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0001322422 FY false 40-F false true 2025-12-31 --12-31 2025 001-34244 HUDBAY MINERALS INC. Z4 1000 98-0485558 25 York Street Suite 800 Toronto ON M5J 2V5 Z4 416 362-8181  Corporation Service Company 2711 Centerville Road Suite 400 Wilmington DE 19808  302 636-5401 Common Shares HBM NYSE true true 395521903 Yes Yes false true false 1208 <div> <p style="text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:14pt"><span style="font-family:Times New Roman,Times,serif"><span><span style="color:rgb(0, 138, 0)">Opinion on the Financial Statements</span></span></span></span></p> <p style="text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>We have audited the accompanying consolidated balance sheets of Hudbay Minerals Inc. and subsidiaries (the "Company") as at December 31, 2025 and 2024, the related consolidated statements of income, comprehensive income, changes in equity, and cash flows, for each of the two years in the period ended December 31, 2025, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as at December 31, 2025 and 2024, and its financial performance and its cash flows for each of the two years in the period ended December 31, 2025, in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board.</span></span></span></p> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated February 19, 2026, expressed an unqualified opinion on the Company's internal control over financial reporting.</span></span></span></p> </div> Deloitte LLP Toronto, Canada 568900000 541800000 0 40000000 377800000 235500000 199200000 197400000 15200000 17400000 800000 15300000 1200000 1100000 1163100000 1048500000 16100000 12900000 21600000 16600000 130900000 12100000 58600000 44300000 4693900000 4181400000 66500000 102600000 72600000 69200000 6223300000 5487600000 342800000 270200000 117400000 100700000 94700000 34400000 122900000 38300000 26700000 30500000 472100000 0 52100000 63100000 1228700000 537200000 155000000 114400000 29300000 44300000 536500000 1107500000 265000000 309100000 7500000 6200000 82400000 80300000 312600000 300800000 375300000 340400000 2992300000 2840200000 2668200000 2641300000 102300000 14300000 460500000 -102400000 3231000000 2553200000 0 94200000 6223300000 5487600000 2211000000 2021200000 1028100000 1040800000 439700000 426600000 1467800000 1467400000 743200000 553800000 94700000 57000000 46300000 42600000 7800000 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style="margin-top:0pt;margin-bottom:0pt">Reporting entity</strong></span></span></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Hudbay Minerals Inc. ("HMI" or the "Company") is a company existing under the <i>Canada Business Corporations Act.</i> The address of the Company's principal executive office is 25 York Street, Suite 800, Toronto, Ontario. The consolidated financial statements ("financial statements") of the Company for the year ended December 31, 2025 and 2024 represent the financial position and the financial performance of the Company and its subsidiaries (together referred to as "Hudbay").</span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Wholly owned subsidiaries as at December 31, 2025 included Copper Mountain Mine (BC) Ltd. ("CMBC"), HudBay Peru Inc., HudBay Peru S.A.C. ("Hudbay Peru"), HudBay (BVI) Inc., Hudbay Arizona Inc., Copper World LLC, ("Copper World") and Mason Resources (US) Inc.<span style="background-color:#ffffff"> ("Mason").</span></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Hudbay is a diversified mining company with long-life assets in North and South America. Hudbay's operations in Cusco (Peru) produce copper with gold, silver and molybdenum by-products. Hudbay's operations in Manitoba (Canada) produce gold with copper, zinc and silver by-products. Hudbay's operations in British Columbia (Canada) produce copper with gold and silver by-products. Hudbay has a development pipeline that includes copper development projects in Arizona and Nevada (United States), and a focused growth strategy on exploration, development, operation, and optimization of properties that Hudbay already controls, as well as other mineral assets that Hudbay may acquire that fit the Company's strategic criteria. The Company is governed by the Canada Business Corporations Act and its shares are listed under the symbol "HBM" on the Toronto Stock Exchange, New York Stock Exchange and Bolsa de Valores de Lima.</span></span></span></span></p> </div> <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#d22630"><strong>2.</strong></span><span style="width:14.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Basis of preparation</strong></span></span></span></p> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(a)</strong><span style="width:11.5pt;text-indent:0pt;display:inline-block"> </span><strong>Statement of compliance:</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">These consolidated financial statements have been prepared in accordance with IFRS^® Accounting Standards as issued by the International Accounting Standards Board ("IASB") effective for the year ended December 31, 2025.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Board of Directors approved these consolidated financial statements on February 19, 2026.</span></span></p> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(b)</strong><span style="width:11.01pt;text-indent:0pt;display:inline-block"> </span><strong>Functional and presentation currency:</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay's consolidated financial statements are presented in US dollars, which is the Company's and all material subsidiaries' functional currency, except the Company's Manitoba and British Columbia business units, which have a functional currency of Canadian dollars. All values are expressed in millions except where otherwise indicated.</span></span></p> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(c)<span style="display:inline-block;width:12pt"> </span>Basis of measurement:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The consolidated financial statements have been prepared on the historical cost basis except for the following items in the consolidated balance sheets:</span></span></p> <p style="text-align:justify;margin-left:72pt;margin-bottom:0pt;text-indent:-18pt;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>Derivatives, embedded derivatives, other financial instruments, and financial assets measured at fair value through profit or loss ("FVTPL");</span></span></p> <p style="text-align:justify;margin-left:72pt;margin-bottom:0pt;text-indent:-18pt;margin-top:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>Contingent and deferred consideration arising from the purchase of non-controlling interest are recognized as financial liability at fair value on the date the obligation arises;</span></span></p> <p style="text-align:justify;margin-left:72pt;margin-bottom:0pt;text-indent:-18pt;margin-top:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>Liabilities for cash-settled share-based compensation arrangements are measured at fair value; and,</span></span></p> <p style="text-align:justify;margin-left:72pt;text-indent:-18pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>A defined benefit liability is recognized as the net total of the plan assets, unrecognized past service costs and unrecognized actuarial losses, less unrecognized actuarial gains and the present value of the defined benefit obligation.</span></span></p> <div></div> <p style="text-align:justify;margin-left:45pt;text-indent:-22.5pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(d)<span style="display:inline-block;width:10pt"> </span>Use of judgements and estimates:</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The preparation of the consolidated financial statements requires Hudbay to make judgements, estimates and assumptions that affect the application of accounting policies, reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and reported amounts of revenue and expenses during the reporting period. Actual results may differ from these estimates.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay reviews these estimates and underlying assumptions on an ongoing basis, based on experience and other factors, including expectations of future events that the Company believes to be reasonable under the circumstances. Revisions to accounting estimates are recognized prospectively in the period in which the estimates are revised and in any future periods affected.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The following are critical and significant judgements and estimates impacting the consolidated financial statements:</span></span></p> <p style="text-align:justify;margin-left:81pt;text-indent:-13.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span><i>Indicators and testing of impairment (reversal of impairment) of non-financial assets (notes 3h, 3i, 13 an</i><span style="background-color:#ffffff"><i>d 14)</i></span><i> - </i>There are a number of potential indicators that could trigger non-financial asset impairment or reversal of impairment. These indicators may require critical judgements to determine the extent that external and/or internal environmental business changes may impact Hudbay's overall assessment of the recoverability of non-financial assets. Such business changes include changes to the life of mine ("LOM") plan, changes to budget, changes to closure plans, changes to discount rates, changes to long-term commodity prices and changes that relate to purchase offers resulting in a third party valuation of the CGU. If an impairment or impairment reversal indicator is identified then there are also critical estimates involved in the determination of the recoverable amount of cash generating units ("CGU"). A CGU to which goodwill has been allocated is tested for impairment at least annually or when events or circumstances indicate that an assessment for impairment is required. Recoverable amounts are calculated using discounted after-tax cash flows based on cash flow projections and assumptions in Hudbay's most recent LOM plans. LOM plans are based on optimized mine and processing plans and the assessment of capital expenditure requirements of a mine site. LOM plans incorporate management's best estimates of key assumptions which include future commodity prices, the value of mineral resources not included in the applicable LOM plans, production based on current estimates of recoverable reserves, discount rates, future operating and capital costs and future foreign exchange rates. Most critical to the value of the recoverable amount are the assumptions of future commodity prices and the value of mineral resources not included in the applicable LOM plans. Expected future cash flows used to determine the recoverable amount during impairment testing are inherently uncertain and could materially change over time. Should management's estimate of the future not reflect actual events, impairments may be identified, which could have a material effect on the financial statements. Although it is reasonably possible for a change in key assumptions to occur, the possible effects of a change in any single assumption may not fairly reflect the impact of CGU's fair value as the assumptions are inextricably linked.</span></span></p> <p style="text-align:justify;margin-left:81pt;text-indent:-13.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span><i>Mineral reserves and resources (notes 3g, 3k and 3i) - </i>Hudbay estimates mineral reserves and resources to determine future recoverable mine production based on assessment of geological, engineering and metallurgical analyses, estimates of future production costs, capital costs and reclamation costs, as well as long term commodity prices and foreign exchange rates. There are numerous uncertainties inherent in estimating mineral reserves and resources, including many factors beyond Hudbay's control. The estimates are based on information compiled by appropriately qualified persons relating to the geological data on the size, depth and shape of the ore body and interpreting this data requires complex geological judgements. Changes in assumptions, including economic assumptions such as metals prices and market conditions, could have a material effect on the financial position and results of operations.</span></span></p> <p style="text-align:justify;margin-left:45pt;text-indent:36pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Changes in the mineral reserve or resource estimates may affect:</span></span></p> <p style="text-align:justify;margin-left:117pt;margin-bottom:0pt;text-indent:-18pt;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>the carrying value of exploration and evaluation assets, capital works in progress, mining properties and plant and equipment, goodwill;</span></span></p> <p style="text-align:justify;margin-left:117pt;margin-bottom:0pt;text-indent:-18pt;margin-top:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>depreciation expense for assets depreciated either on a unit-of-production basis or on a straight line basis where useful lives are restricted by the life of the related mine plan;</span></span></p> <p style="text-align:justify;margin-left:117pt;margin-bottom:0pt;text-indent:-18pt;margin-top:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>the provision for decommissioning, restoration and similar liabilities;</span></span></p> <p style="text-align:justify;margin-left:117pt;margin-bottom:0pt;text-indent:-18pt;margin-top:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>the carrying value of deferred tax assets, and</span></span></p> <p style="text-align:justify;margin-left:117pt;text-indent:-18pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>amortization of deferred revenue.</span></span></p> <div> <div></div> </div> <p style="text-align:justify;margin-left:81pt;text-indent:-13.5pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span><i>Property plant and equipment (notes 3h and 14) - </i>The carrying amounts of property, plant and equipment and exploration and evaluation assets on Hudbay's consolidated balance sheets are significant and reflect multiple estimates and applications of judgement. Management exercises judgement in determining whether the costs related to exploration and evaluation are eligible for capitalization and whether they are likely to be recoverable by future exploration, which may be based on assumptions about future events and circumstances. Judgement and estimates are used when determining whether exploration and evaluation assets should be transferred to capital works in progress within property, plant and equipment. For mines in the production stage, management applies judgement to determine development costs to be capitalized based on the extent they are incurred in order to access reserves mineable over more than one year. For depreciable property, plant and equipment assets, management makes estimates to determine depreciation. For assets depreciated using the straight line method, residual value and useful lives of the assets or components are estimated. A significant estimate is required to determine the total production basis for units-of-production depreciation. The most currently available reserve and resource report is utilized in determining the basis which has material impacts on the amount of depreciation recorded through inventories and the consolidated statements of income. There are numerous uncertainties inherent in estimating mineral reserves, and assumptions that were valid at the reporting date may change when new information becomes available. The actual volume of ore extracted and any changes in these assumptions could affect prospective depreciation rates and carrying values. In determining whether stripping costs incurred during the production phase of a mining property relate to mineral reserves and mineral resources that will be mined in a future period and therefore should be capitalized, Hudbay makes estimates of the proportion of stripping activity which relates to extracting current ore and the proportion which relates to obtaining access to ore reserves which will be mined in the future.</span></span></p> <p style="text-align:justify;margin-left:81pt;text-indent:-13.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span><i>Tax provisions (notes 3m and </i>24) - Management makes estimates in determining the measurement and recognition of deferred tax assets and liabilities recorded on the consolidated balance sheets. The measurement of deferred tax assets and deferred tax liabilities is based on tax rates that are expected to apply in the period that the asset is realized or liability is settled based on tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax assets, including those arising from unutilized tax losses, require management to assess the likelihood of taxable income in the future periods in order to utilize recognized deferred tax assets. Estimates of future taxable income are based on forecasted cash flows from operations and the application of existing tax laws in each jurisdiction. To the extent that future cash flows and taxable income differ significantly from estimates, the ability to realize the net deferred tax assets recorded at the balance sheet date could be affected. At the end of each reporting period, management reassesses the period that the assets are expected to be realized or liabilities are settled and the likelihood of taxable income in future periods in order to support and adjust the deferred tax assets and deferred tax liabilities recognized on the consolidated balance sheets.</span></span></p> <p style="text-align:justify;margin-left:81pt;text-indent:-13.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><i>-</i><span style="display:inline-block;width:10.0pt"> </span><i>Assaying utilized to determine revenue and recoverability of inventories (notes 3c and 3f) - </i>Assaying of contained metal is a key estimate in determining the amount of revenues recorded in the consolidated statements of income. The estimate is finalized after final surveying is completed, which may extend to six months in certain transactions. Since assays are utilized to determine the value of recorded revenues, significant differences in given assays may result in a material misstatement of revenues on the consolidated statements of income. Assay survey results are also a factor utilized to determine if inventories on hand have a net realizable value that exceeds cost. Material differences in assay results may lead to misstatements of inventory balances in the consolidated balance sheets.</span></span></p> <p style="text-align:justify;margin-left:81pt;text-indent:-13.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><i>-</i><span style="display:inline-block;width:10.0pt"> </span><i>Decommissioning and restoration obligations (notes 3k and </i>21<i>) - </i>Significant judgement and estimates are utilized in the determination of the decommissioning and restoration provisions in the consolidated balance sheets. Judgement is involved in determining the timing and extent of cash outflows required to satisfy constructive obligations based on the timing of site closures in the LOM plans, expected unit costs to determine cash obligations to remediate disturbances and regulatory and constructive requirements, as well as technological changes to determine the extent and timing of the remediation required. The timing of cash outflows and discount rates associated with discounting the provision are also key estimates. Changes in these estimates may result in a change in classification of the provision between non-current and current as well as material differences in the total provision recorded in the consolidated balance sheets.</span></span></p> <div> <div></div> </div> <p style="text-align:justify;margin-left:81pt;text-indent:-13.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><i>-</i><span style="display:inline-block;width:10.0pt"> </span><i>Pension and other employee benefit (notes 3j, </i>22<i> and </i>23<i>) - </i>Hudbay'<i>s </i>post retirement obligations relate mainly to ongoing health care benefits plans. Hudbay estimates obligations related to the pension and other employee benefits plans using actuarial determinations that incorporate assumptions using management's best estimates of factors including plan performance, salary escalation, retirement dates of employees and drug cost escalation rates. Due to the complexity of the valuation, the underlying assumptions and its long term nature, the defined benefit obligation is highly sensitive to changes in these assumptions. Management reviews all assumptions at each reporting date. In determining the appropriate discount rate, Hudbay considers the interest rates on corporate bonds in the respective currency with at least an AA rating, with extrapolated maturities corresponding to the expected duration of the defined benefit obligation. The mortality rate is based on publicly available mortality tables for the specific country, and Hudbay bases future salary increases and pension increases on expected future inflation rates for the respective country.</span></span></p> </div> <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#d22630"><strong>3.</strong></span><span style="width:14.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Material accounting policies</strong></span></span></span></p> <div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The accounting policies set out below have been applied consistently to all periods presented in these consolidated financial statements and by all Hudbay's entities.</span></span></p> <div> <div> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(a)<span style="display:inline-block;width:10.5pt"> </span>Basis of consolidation:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Intercompany balances and transactions are eliminated upon consolidation. When a Hudbay entity transacts with an associate or jointly controlled entity of the Company, unrealized profits and losses are eliminated to the extent of Hudbay's interest in the relevant associate or joint venture. The accounting policies of Hudbay's entities are changed when necessary to align them with the policies adopted by the Company.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Subsidiaries </span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">A subsidiary is an entity controlled by Hudbay. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Non-controlling interest</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-controlling interest in subsidiaries are identified separately from the Company's equity in the subsidiaries. The interest of non-controlling shareholders may be initially measured either at fair value or at the non-controlling interest proportionate share of the fair value of the acquiree's identifiable net assets. The choice of measurement basis is made on an acquisition-by-acquisition basis. Subsequent to acquisition, the carrying amount of non-controlling interest is the amount of that interest at initial recognition plus the non-controlling interest share of subsequent changes in equity. Total comprehensive income is attributed to non-controlling interest even if this results in the non-controlling interest having a deficit balance.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Business combinations and goodwill</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Should Hudbay make an acquisition, it first determines whether the assets acquired and liabilities assumed constitute a business, in which case the acquisition requires accounting as a business combination. Management applies judgement in determining whether the acquiree is capable of being conducted and managed for the purpose of providing a return, considering the inputs of the acquiree and processes applied to those inputs that have the ability to create outputs.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay applies the acquisition method of accounting to business combinations, whereby the goodwill is measured at the acquisition date as the fair value of the consideration transferred including the recognized amount of any non-controlling interest in the acquiree. When the excess is negative, a bargain purchase gain is recognized immediately in the consolidated statements of income. The assessment of fair values on acquisition includes those mineral reserves and resources that are able to be reliably measured. In determining these fair values, management must also apply judgement in areas including future cash flows, metal prices, exchange rates and appropriate discount rates. Changes in such estimates and assumptions could result in significant differences in the amount of goodwill recognized.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The consideration transferred is the aggregate of the fair values, at the date of the acquisition, of the sum of the assets transferred, the liabilities incurred or assumed, and the equity instruments issued by the acquirer in exchange for control of the acquiree. Acquisition-related costs are recognized in the consolidated statements of income as incurred, unless they relate to issuance of debt or equity securities.</span></span></p> </div> <div></div> <div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Where applicable, the consideration transferred includes any asset or liability resulting from a contingent consideration arrangement and measured at its acquisition date fair value. Subsequent changes in such fair values are adjusted against the cost of acquisition where they qualify as measurement period adjustments. All other subsequent changes in the fair value of contingent consideration classified as an asset or liability are accounted for in accordance with relevant IFRS Accounting Standards. Changes in the fair value of contingent consideration classified as equity are not recognized.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Where a business combination is achieved in stages, the Company's previously held interest in the acquired entity are remeasured to fair value at the acquisition date, which is the date Hudbay attains control, and any resulting gain or loss is recognized in the consolidated statements of income. Amounts previously recognized in other comprehensive income ("OCI") related to interest in the acquiree prior to the acquisition date are reclassified to the consolidated statements of income, where such treatment would be appropriate if that interest were disposed of.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of Hudbay's CGUs that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. Goodwill is allocated to the lowest level at which it is monitored for internal management purposes and is not larger than an operating segment before aggregation. Where goodwill forms part of a CGU and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the determination of any gain or loss on disposal.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Goodwill is not amortized and is tested for impairment annually and whenever there is an indication of impairment. If any such indication exists, the recoverable amount of the CGU is estimated in order to determine the extent of the impairment, if any. The recoverable amount is determined as the higher of fair value less direct costs to sell and the CGU's value in use. When the recoverable amount of the CGU is less than the carrying amount of that CGU, the impairment loss is allocated to reduce the carrying amount of any goodwill allocated to that CGU first, and then to the other assets of that CGU on a pro-rata basis of the carrying amount of each asset in the CGU. An impairment loss in respect of goodwill is not reversed.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Fair value for mineral interest and related goodwill is generally determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset, including any expansion prospects, and its eventual disposal, using assumptions that an independent market participant may take into account.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Value in use is determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset in its present form and its eventual disposal. Value in use is determined by applying assumptions specific to Hudbay's continued use and cannot take into account future development.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The weighted average cost of capital of Hudbay or comparable market participants is used as a starting point for determining the discount rates, with appropriate adjustments for the risk profile of the countries in which the individual CGUs operate and the specific risks related to the development of the project.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Where the asset does not generate cash flows that are independent of other assets, Hudbay estimates the recoverable amount of the CGU to which the asset belongs. If the carrying amount of an asset or CGU exceeds its recoverable amount, the carrying amount of the asset or CGU is reduced to its recoverable amount. An impairment loss is recognized as an expense in the consolidated statements of income.</span></span></p> </div> </div> <p style="margin:0pt"> </p> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(b)<span style="display:inline-block;width:10pt"> </span>Translation of foreign currencies: </strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Management determines the functional currency of each Hudbay entity as the currency of the primary economic environment in which the entity operates.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Foreign currency transactions</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Transactions in foreign currencies are translated to the respective functional currencies of Hudbay's entities at exchange rates in effect at the transaction dates.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">At the end of each reporting period, monetary assets and liabilities denominated in foreign currencies are translated to the functional currency using the closing exchange rate. Non-monetary assets and liabilities measured at fair value are translated using the exchange rates at the date when fair value was determined. Non-monetary assets and liabilities measured at historical cost in a foreign currency are translated using exchange rates that were in effect at the transaction dates. The same translations are applied when an entity prepares its financial statements from books and records maintained in a currency other than its functional currency, except revenue and expenses may be translated at monthly average exchange rates that approximate those in effect at the transaction dates.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Foreign currency gains and losses arising on period-end revaluations are recognized in the consolidated statements of income, except for a financial liability designated as a hedge of a net investment in a foreign operation, or qualifying cash flow hedges, which are recognized in OCI.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Foreign operations</span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">For the purpose of the consolidated financial statements, assets and liabilities of Hudbay's entities that have functional currencies other than the US dollar are translated to US dollars at the reporting date using the closing exchange rate. Revenue and expenses are translated at monthly average exchange rates that approximate those in effect at the transaction dates. Differences arising from these foreign currency translations are recognized in OCI and presented within equity in the foreign currency translation reserve. When a foreign operation is disposed, the relevant exchange differences accumulated in the foreign currency translation reserve are transferred to the consolidated statements of income as part of the profit or loss on disposal. On the partial disposal of a subsidiary that includes a foreign operation, the relevant proportion of such amount is reattributed to non-controlling interest. On disposal of a partial investment in an associate or joint venture that includes a foreign operation while retaining significant influence or joint control, the relevant proportion is reclassified to profit or loss.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Net investment in a foreign operation</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign currency gains and losses arising on translation of a monetary item receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur in the foreseeable future are considered to form part of a net investment in the foreign operation. Such gains and losses are recognized in OCI and presented within equity in the foreign currency translation reserve.</span></span></p> </div> <p style="margin:0pt"> </p> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(c)<span style="display:inline-block;width:11.5pt"> </span>Revenue recognition: </strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Revenue from the sale of goods is measured at the fair value of the consideration received or receivable, net of treatment and refining charges. Revenue from the sale of by-products is included within revenue.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Revenue is recognized when control of the goods sold has been transferred to the customer. Control is deemed to have passed to the customer when significant risk and reward of the product has passed to the customer, Hudbay has a present right to payment, and physical possession of the product has been transferred to the customer. Sales of doré are recorded when a trade confirmation is duly signed and executed between Hudbay and the end purchaser. Sale of concentrate and finished zinc frequently occur under the following terms, and management has assessed these terms in order to determine timing of transfer of control and revenue recognition as generally outlined in the following table.</span></span></p> <div style="margin-left:55.35pt"> <table border="1" cellpadding="3" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="width:51%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="text-indent:18pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>Incoterms used by Hudbay </strong></span></span></p> </td> <td style="width:45%;padding-right:2.15pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="margin-left:13.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>Revenue recognized when goods:</strong></span></span></p> </td> </tr> <tr> <td style="width:51%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="text-indent:18pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost, Insurance and Freight (CIF)</span></span></p> </td> <td style="border:1pt solid #000000;width:45%;vertical-align:bottom;padding-right:2.15pt;padding-left:2.15pt"> <p style="margin-left:13.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Are loaded on board the vessel</span></span></p> </td> </tr> <tr> <td style="width:51%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="text-indent:18pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Free on Board (FOB)</span></span></p> </td> <td style="border:1pt solid #000000;width:45%;vertical-align:bottom;padding-right:2.15pt;padding-left:2.15pt"> <p style="margin-left:13.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Are loaded on board the vessel</span></span></p> </td> </tr> <tr> <td style="width:51%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="text-indent:18pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Delivered at place (DAP)</span></span></p> </td> <td style="border:1pt solid #000000;width:45%;vertical-align:bottom;padding-right:2.15pt;padding-left:2.15pt"> <p style="margin-left:13.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arrive at the named place of destination</span></span></p> </td> </tr> <tr> <td style="width:51%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="text-indent:18pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Delivered at terminal (DAT)</span></span></p> </td> <td style="border:1pt solid #000000;width:45%;vertical-align:bottom;padding-right:2.15pt;padding-left:2.15pt"> <p style="margin-left:13.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arrive at the named place of destination</span></span></p> </td> </tr> <tr> <td style="width:51%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="text-indent:18pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Free Carrier (FCA)</span></span></p> </td> <td style="border:1pt solid #000000;width:45%;vertical-align:bottom;padding-right:2.15pt;padding-left:2.15pt"> <p style="margin-left:13.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arrive at the named place of delivery</span></span></p> </td> </tr> <tr> <td style="width:51%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="text-indent:18pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Carriage and Insurance Paid (CIP)</span></span></p> </td> <td style="width:45%;padding-right:2.15pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="margin-left:13.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arrive at the named place, upon delivery of the goods by the first carrier</span></span></p> </td> </tr> </table> </div> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Sales of copper and zinc concentrate and certain other products are provisionally priced. For these contracts, sales prices are subject to final adjustment at the end of a future period after shipment, based on quoted market prices during the quotational period specified in the contract. Revenue is recognized when the above criteria are achieved, using weight and assay results and forward market prices to estimate the fair value of the total consideration receivable. Therefore, revenue is initially recorded based on an initial provisional invoice. Subsequently, at each reporting date, until the provisionally priced sale is finalized, sales receivables are marked to market, with adjustments (both gains and losses) recorded within revenue separately as "Pricing and volume adjustments" in the notes to the consolidated financial statements and in trade and other receivables on the consolidated balance sheets. As per IFRS 15 <i>Revenue from contracts with customers</i>, variability in price is deemed to be fair value movements on provisionally priced receivables under the scope of IFRS 9 <i>Financial Instruments</i>; variability in quantities is deemed to be variable consideration. The variable consideration from weights and assay changes to quantities has been assessed to be insignificant to warrant precluding revenue being recorded as a result of possible future sales reversals. An annual analysis of the accuracy of our weights and assays is completed, and if the accuracy rate falls below a certain threshold, management then evaluates whether revenue from future sales should be constrained as a result of it being highly probable that there would be a significant revenue reversal in the future.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Hudbay only includes in the transaction price an amount which is not highly likely to be subject to significant subsequent revenue reversal. Within sales contracts with customers, separate performance obligations may arise pertaining to the shipping of goods sold. If applicable, costs and the transaction price are allocated on a relative standalone selling basis to any separate performance obligations and are recognized over the period of time the goods sold are shipped, on a gross basis.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay recognizes deferred revenue in the event it receives payments from customers before a sale meets criteria for revenue recognition.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Precious metals stream contracts, which at inception of the contract are determined that they can be satisfied through the delivery of Hudbay's own production of non-financial items (i.e. gold and silver credits) rather than cash or other financial assets, are accounted for as deferred revenue. If settlement with Hudbay's own production of gold and silver is not possible, the stream transaction is recognized as a financial liability since settlement may require a cash payment. This would cause a change to the accounting treatment, resulting in the revaluation of the agreement to the fair value through the consolidated statements of income on a recurring basis.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred revenue associated with precious metals stream contracts are subject to variable consideration and contain a significant financing component since funds were received in advance of the delivery of concentrate. When a significant financing component is recognized, finance expense will be higher and revenues will be higher as the larger deferred revenue balance is amortized to revenues. A market-based discount rate is utilized at the inception of each of the respective stream agreements to determine a discount rate for computing the interest charges for the significant financing component of the deferred revenue balance. As product is delivered, the deferred revenue amount including accreted interest will be drawn down. The draw down rate requires the use of proven and probable reserves and certain resources in the calculation that are beyond proven and probable reserves which management is reasonably confident will be transferable to reserves. Key estimates used in determining the significant financing component include the discount rate and the reserve and resources assumed for conversion.</span></span></p> </div> <p style="margin:0pt"> </p> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(d)<span style="display:inline-block;width:10pt"> </span>Cost of sales:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of sales consists of those costs previously included in the measurement of inventory sold during the period, as well as certain costs not included in the measurement of inventory, such as the cost of warehousing and distribution to customers, provisional pricing adjustments related to purchased concentrates, profit sharing, royalty payments, share-based compensation expense and other indirect expenses related to producing operations.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of sales also include non-cash net realizable value adjustments to inventory, one-time adjustments related to overheads incurred when not operating at normal capacity and one-time labour charges related to facilitating the production of inventories for past service pension costs, curtailment gains and severance.</span></span></p> </div> <p style="margin:0pt"> </p> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(e)<span style="display:inline-block;width:11.5pt"> </span>Cash and cash equivalents:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash and cash equivalents include cash, demand deposits and short-term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. Cash equivalents have maturities of three months or less at the date of acquisition. Interest earned is included in finance income on the consolidated statements of income and in investing activities on the consolidated statements of cash flows.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Amounts that are restricted from being used for at least twelve months after the reporting date or are not available for general disbursement, like a debt service account are classified as non-current assets and presented in other financial assets on the consolidated balance sheets. Changes in restricted cash balances are classified as investing or financing activities on the consolidated statements of cash flows.</span></span></p> </div> <p style="margin:0pt"> </p> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(f)<span style="display:inline-block;width:12.5pt"> </span>Inventories: </strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Inventories consist of stockpiles, finished goods inventory (concentrates and metals), and materials and supplies. Concentrates, doré, metals and all other saleable products are valued at the lower of cost and estimated net realizable value. Net realizable value represents the estimated selling price for inventories less all estimated direct and indirect costs of completion and costs necessary to make the sale. Where the net realizable value is less than cost, the difference is charged to the consolidated statements of income as an impairment charge in cost of sales. Costs associated with stripping activities in an open pit mine are capitalized to inventory and recorded through cost of sales unless the stripping activity can be shown to improve access to further quantities of ore that will be mined in future periods, in which case, the stripping costs are capitalized to property, plant and equipment.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of production of concentrate inventory is determined on a weighted average cost basis and the cost of production of finished metal inventory is determined using the first in first out basis. The cost of production includes direct costs associated with conversion of production inventory based on normal production capacity: material, labour, contractor expenses, purchased concentrates, and an attributable portion of production overheads and depreciation of all property, plant and equipment involved with the mining and production process. Hudbay measures in-process inventories based on assays of material received at metallurgical plants and estimates of recoveries in the production processes. Due to significant uncertainty associated with volume and metal content, immaterial costs are not allocated to routine operating levels of stockpiled ore. Estimates and judgements are required to assess the nature of any significant changes to levels of ore stockpiles and determining whether allocation of costs is required.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Supplies are valued at the lower of average cost and net realizable value.</span></span></p> </div> <p style="margin:0pt"> </p> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(g)<span style="display:inline-block;width:10.5pt"> </span>Exploration and evaluation expenditures: </strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exploration and evaluation activity begins when Hudbay obtains legal rights to explore a specific area and involves the search for mineral reserves, the determination of technical feasibility, and the assessment of commercial viability of an identified resource. Expenditures incurred in the exploration and evaluation phase include the cost of acquiring interest in mineral rights, licenses and properties and the costs of Hudbay's exploration activities, such as researching and analyzing existing exploration data, gathering data through geological studies, exploratory drilling, trenching, sampling, and certain feasibility studies.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay expenses the cost of its exploration and evaluation activities and capitalizes the cost of acquiring interest in mineral rights, licenses and properties in business combinations, asset acquisitions or option agreements. Amounts capitalized are recognized as exploration and evaluation assets and presented in property, plant and equipment. Exploration and evaluation assets acquired as a result of an asset acquisition or option agreement are initially recognized at cost, and those acquired in a business combination are recognized at fair value on the acquisition date. They are subsequently carried at cost less accumulated impairment. No depreciation is charged during the exploration and evaluation phase. Hudbay expenses the cost of subsequent exploration and evaluation activity related to acquired exploration and evaluation assets. Cash flows associated with acquiring exploration and evaluation assets are classified as investing activities in the consolidated statements of cash flows; those associated with exploration and evaluation expenses are classified as operating activities.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Judgement is required in determining whether the respective costs are eligible for capitalization where applicable, and whether they are likely to be recoverable, which may be based on assumptions about future events and circumstances. Estimates and assumptions made may change if new information becomes available.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay monitors exploration and evaluation assets for factors that may indicate their carrying amounts are not recoverable. If such indicators are identified, the Company tests the exploration and evaluation assets or their CGUs, as applicable, for impairment. Hudbay also tests for impairment when assets reach the end of the exploration and evaluation phase.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exploration and evaluation assets are transferred to capital works in progress within property, plant and equipment once the Company determines that probable future economic benefits will be generated as a result of the expenditures. Hudbay's determination of probable future economic benefit is based on management's evaluation of the technical feasibility and commercial viability of the geological properties of a given ore body based on information obtained through evaluation activities, including metallurgical testing, resource and reserve estimates and the economic assessment of whether the ore body can be mined economically. Tools that may be used to determine this include a preliminary feasibility study, confidence in converting resources into reserves and the probability that the property could be developed into a mine site. At that time, the property is considered to enter the development phase, and subsequent evaluation costs are capitalized.</span></span></p> </div> <p style="margin:0pt"> </p> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(h)<span style="display:inline-block;width:10pt"> </span>Property, plant and equipment:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay measures items of property, plant and equipment at cost less accumulated depreciation and any accumulated impairment losses.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The initial cost of an item of property, plant and equipment includes its purchase price or construction costs, including import duties and non-refundable purchase taxes, any costs directly attributable to bringing the asset into operation, and for qualifying assets, borrowing costs. The initial cost of property, plant and equipment also includes the initial estimate of the cost of dismantling and removing the item and restoring the site on which it is located, the obligation which Hudbay incurs either when the item is acquired or as a consequence of having used the item during a particular period for purposes other than to produce inventories during that period.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capitalization of costs ceases once an asset is in the location and condition necessary for it to be capable of operating in the manner intended by management. At this time, depreciation commences. For a new mine, this occurs upon commencement of commercial production. Any revenues less cost to produce, earned prior to commencement of commercial production, are included in the consolidated statements of income.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Carrying amounts of property, plant and equipment, including right-of-use ("ROU") assets, are depreciated to their estimated residual value over the estimated useful lives of the assets or the estimated life of the related mine or plant, if shorter. Where components of an asset have different useful lives, depreciation is calculated on each separate component. Components may be physical or non-physical, including the cost of regular major inspections and overhauls required in order to continue operating an item of property, plant and equipment.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Certain items of property, plant and equipment are depreciated on a unit-of-production basis. The unit-of-production method is based on proven and probable tonnes of ore reserves. There are numerous uncertainties inherent in estimating ore reserves, and assumptions that were valid at the reporting date may change when new information becomes available. The actual volume of ore extracted and any changes in these assumptions could affect prospective depreciation rates and carrying values.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The carrying amount of an item of property, plant and equipment is derecognized on disposal or when no future economic benefits are expected from its use or disposal. Upon derecognition of an item of property, plant and equipment, the difference between its carrying value and net sales proceeds, if any, is presented as a gain or loss in other operating income or expense in the consolidated statements of income.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">i.<span style="width:13.5pt;text-indent:0pt;display:inline-block"> </span>Capital works in progress:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capital works in progress consist of items of property, plant and equipment in the course of construction or mineral properties in the course of development, including those transferred upon completion of the exploration and evaluation phase. On completion of construction or development, costs are transferred to plant and equipment and/or mining properties as appropriate. Capital works in progress are not depreciated.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">ii.<span style="width:10.17pt;text-indent:0pt;display:inline-block"> </span>Mining properties:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Mining properties consist of costs transferred from capital works in progress when a mining property reaches commercial production, costs of subsequent mine and exploration development, and acquired mining properties in the production stage.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Mining properties include costs directly attributable to bringing a mineral asset into the state where it is capable of operating in the manner intended by management and includes such costs as the cost of shafts, ramps, track haulage drifts, ancillary drifts, pumps, electrical substations, refuge stations, ventilation raises, permanent manways, and ore and waste pass raises. The determination of development costs to be capitalized during the production stage of a mine operation requires the use of judgements and estimates such as estimates of tonnes of waste to be removed over the life of the mining area and economically recoverable reserves extracted as a result.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">A mining property is considered to be capable of operating in a manner intended by management when it commences commercial production based on pre-established criteria. Upon commencement of commercial production, a mining property is depreciated on a unit-of-production method. Unit-of-production depreciation rates are determined based on the related proven and probable mineral reserves and associated future development costs.</span></span></p> <p style="text-align:justify;margin-left:63pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Subsequent mine development costs are capitalized to the extent they are incurred in order to access reserves mineable over more than one year. Ongoing maintenance and development expenditures are expensed as incurred and included in cost of sales in profit or loss. These include ore stope access drifts, footwall and hangingwall drifts in stopes, drawpoints, drill drifts, sublevels, slots, drill raises, stope manway access raises and definition diamond drilling.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">iii.<span style="width:7.5pt;text-indent:0pt;display:inline-block"> </span>Plant and equipment:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Plant and equipment consists of buildings and fixtures, surface and underground fixed and mobile equipment and assets under lease.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Plant and equipment are depreciated on either unit-of-production or straight-line basis based on factors including the production life of assets and mineable reserves. In general, mining assets are depreciated using a unit-of-production method; equipment is depreciated using the straight-line method, based on the shorter of its useful life and that of the related mine or facility; and plants are depreciated using the straight-line method, with useful lives limited by those of related mining assets.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">iv.<span style="width:9pt;text-indent:0pt;display:inline-block;margin-top:0pt;margin-bottom:0pt"> </span>Right-of-use lease assets:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">At inception of a contract, Hudbay assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company assesses the following criteria in the determination of whether a contract conveys the right to control the use of an identified asset:</span></span></p> <p style="margin-left:90pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:15pt"> </span>The contract involves the use of an identified asset - this may be specified explicitly or implicitly, and should be physically distinct or represent substantially all of the capacity of a physically distinct asset. If the supplier has substantive substitution rights, then the asset is not identified;</span></span></p> <p style="margin-top:0pt;margin-left:90pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:15pt"> </span>Hudbay has the right to obtain substantially all of the economic benefits from use of the asset throughout the period of use; and</span></span></p> <p style="margin-top:0pt;margin-left:90pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:15pt"> </span>Hudbay has the right to direct the use of the asset by means of decision making rights that are most relevant to changing how and for what purpose the asset is used. In the case where decisions about the asset's purpose is predetermined, Hudbay is deemed to have the right to direct the use of the asset if either:</span></span></p> <p style="margin-top:0pt;margin-left:117pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">▪<span style="display:inline-block;width:15pt"> </span>Hudbay has the right to operate the asset; or,</span></span></p> <p style="margin-top:0pt;margin-left:117pt;text-indent:-18pt;text-align:justify;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">▪<span style="display:inline-block;width:15pt"> </span>Hudbay designed the asset in a way that predetermines how and for what purpose it will be used.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company recognizes a ROU asset and lease liability at the lease commencement date. The initial measurement of the ROU asset is on a present value basis. This is based on the calculated lease liability plus any initial direct costs incurred, an estimate of removal or restoration costs, and any payments made prior to commencement of the lease less any lease incentives received.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The right of use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The estimated useful lives of the right-of-use assets are determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The lease liability is measured at the present value of the lease payments that are yet to be paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be easily determined, Hudbay's incremental borrowing rate. Generally, the Company uses its incremental borrowing rate as the discount rate for applicable leases.</span></span></p> <p style="text-align:justify;margin-left:63pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Lease payments included in the measurement of the lease liability comprise fixed payments including in substance fixed payments and variable payments that depend on an index or rate, amounts expected to be payable under a residual value guarantee and the additional costs Hudbay reasonably expects to incur due to purchase options, extension options and termination options reasonably expected to be exercised.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in the expected future cash flows of a leasing contract either due to a change in index or rate, or due to a change in terms of the contract. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset is zero.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay has elected not to separate non-lease components and account for the lease and non-lease components as a single lease component for lease contracts of all asset classes.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company has elected not to recognize ROU assets and lease liabilities for short-term leases of machinery that have a lease term of 12 months or less and leases of low-value assets. Hudbay recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay does not enter into transactions where the Company acts as a lessor.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The incremental borrowing rate used to discount leases and to compute interest for new ROU leases is considered a key management judgement.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">v.<span style="width:11pt;text-indent:0pt;display:inline-block;margin-top:0pt;margin-bottom:0pt"> </span>Depreciation rates of major categories of assets:</span></span></p> <div style="margin-left:90pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:11.7pt"> </span>Capital works in progress</span></span></td> <td style="width:60%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">- not depreciated</span></span></td> </tr> <tr> <td><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:11.7pt"> </span>Mining properties</span></span></td> <td style="width:60%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">- unit-of-production</span></span></td> </tr> <tr> <td><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:11.7pt"> </span>Mining asset</span></span></td> <td style="width:60%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">- unit-of-production</span></span></td> </tr> <tr> <td><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:11.7pt"> </span>Plant and Equipment</span></span></td> <td style="width:60%"> </td> </tr> <tr> <td style="padding-left:30pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">◦<span style="display:inline-block;width:15pt"> </span>Equipment</span></span></td> <td style="width:60%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">- straight-line over 1 to 20 years</span></span></td> </tr> <tr> <td style="padding-left:30pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">◦<span style="display:inline-block;width:15pt"> </span>Other plant assets</span></span></td> <td style="width:60%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">- straight-line over 1 to 20 years/unit-of-production</span></span></td> </tr> <tr> <td><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:11.7pt"> </span>ROU Assets</span></span></td> <td style="width:60%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">- straight-line over 1 to 20 years</span></span></td> </tr> </table> </div> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay reviews its depreciation methods, remaining useful lives and residual values at least annually and accounts for changes in estimates prospectively.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">vi.<span style="width:8pt;text-indent:0pt;display:inline-block"> </span>Commercial production:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Commercial production is the level of activities intended by management for a mine, or a mine and mill complex, to be capable of operating in the manner intended by management. Hudbay considers a range of factors when determining the level of activity that represents commercial production for a particular project, including a predetermined percentage of design capacity for the mine and mill; achievement of continuous production, ramp-ups, or other output; or specific factors such as recoveries, grades, or inventory build-ups. In a phased mining approach, management may consider achievement of specific milestones at each phase of completion. In a non-phased mining approach, management considers average actual metrics that are at least 60% of average design capacity or plan over a continuous period. Management assesses the operation's ability to sustain production over a period of approximately one to three months, depending on the complexity related to the stability of continuous operation. Commercial production is considered to have commenced, and depreciation expense is recognized, at the beginning of the month after criteria have been met.</span></span></p> <p style="text-align:justify;margin-left:63pt;text-indent:-18pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">vii.<span style="width:6pt;text-indent:0pt;display:inline-block"> </span>Capitalized borrowing costs:</span></span></p> <p style="text-align:justify;margin-left:63pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company capitalizes borrowing costs that are directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time, generally one year or more, to get ready for their intended use or sale. Capitalization of borrowing costs ceases once the qualifying assets commence commercial production or are otherwise ready for their intended use or sale.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Where funds are borrowed specifically to finance a project, the amount capitalized represents the actual borrowing costs incurred. Where the funds used to finance a project form part of general borrowings, the amount capitalized is calculated using a weighted average of interest rates applicable to relevant general borrowings of Hudbay during the period, to a maximum of actual borrowing costs incurred. Investment income earned by temporarily investing specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization. Capitalization of interest is suspended during extended periods in which active development is interrupted.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">All other borrowing costs are recognized in the consolidated statements of income in the period in which they are incurred.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">viii.<span style="width:3pt;text-indent:0pt;display:inline-block"> </span>Capitalized stripping costs:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Costs associated with stripping activities in an open pit mine are capitalized to inventory and recorded through cost of sales unless the stripping activity can be shown to improve access to further quantities of ore that will be mined in future periods, in which case, the stripping costs are capitalized to property, plant and equipment. Capitalized stripping costs are included in "mining properties" within property, plant and equipment.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capitalized stripping costs are depreciated using a units-of-production method over the expected reserves within a given phase of mine development.</span></span></p> </div> <p style="margin:0pt"> </p> <div></div> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(i)<span style="display:inline-block;width:14pt"> </span>Impairment of non-financial assets: </strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">At the end of each reporting period, Hudbay reviews the carrying amounts of property, plant and equipment, exploration and evaluation assets and intangible assets - computer software to determine whether there is any indication of impairment. If any such indication exists, the Company estimates the recoverable amount of the asset in order to determine the extent of the impairment loss, if any. Hudbay generally assesses impairment at the level of CGUs, which are the smallest identifiable groups of assets that generate cash inflows that are largely independent of cash inflows from other assets.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay's CGUs consist of Manitoba, British Columbia, Peru, Arizona and greenfield exploration assets.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company allocates near mine exploration and evaluation assets to CGUs based on their operating segment, geographic location and management's intended use for the property. Near mine exploration and evaluation assets are allocated to CGUs separate from those containing producing or development-phase assets, except where such exploration and evaluation assets have the potential to significantly affect the future production of producing or development-phase assets.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Goodwill is tested for impairment annually and whenever there is an indication that the asset may be impaired. The Company performs goodwill impairment tests on an annual basis as at July 1 each year. This represents a change in accounting policy regarding the timing of the annual goodwill impairment test which was previously performed as at December 31. If the carrying value of the CGU or group of CGUs to which goodwill is assigned exceeds its recoverable amount, an impairment loss is recognized. Goodwill impairment losses are recorded in the consolidated statements of income and they are not subsequently reversed.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Where an indicator of impairment exists, a formal estimate of the recoverable amount of the asset or CGU is made. The recoverable amount is the higher of the fair value less costs of disposal and value in use:</span></span></p> <p style="margin-left:79pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>Fair value less costs of disposal is the amount obtainable from the sale of the asset or CGU in an arm's length transaction between knowledgeable, willing parties, less costs of disposal. Fair value for mineral assets is often determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset, including any expansion prospects, and its eventual disposal, using assumptions that an independent market participant may take into account. These cash flows are discounted by an appropriate discount rate that reflects current market assessments of the time value of money and the risks specific to the asset to arrive at a net present value of the asset.</span></span></p> <p style="margin-left:79pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>Value in use is determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset or CGU in its present form and its eventual disposal, discounted using a pre-tax rate that reflects current market assessments of the time value of money and risks specific to the asset for which estimates of future cash flows have not been adjusted. Value in use calculations apply assumptions specific to the Company's continued use and cannot take into account future development. These assumptions are different to those used in calculating fair value, and consequently the value in use calculation is likely to give a different result to a fair value calculation.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay estimates future cash flows based on estimated future recoverable mine production, expected sales prices (considering current and historical commodity prices, price trends and related factors), production levels and cash costs of production, all based on detailed engineering LOM plans. Future recoverable mine production is determined from reserves and resources after taking into account estimated dilution and recoveries during mining, and estimated losses during ore processing and treatment. Estimates of recoverable production from measured, indicated and inferred mineral resources not included in the LOM plan are assessed for economic recoverability and may also be included in the valuation of fair value less costs of disposal. Gains from the expected disposal of assets are not included in estimated future cash flows. Assumptions underlying future cash flow estimates are subject to risks and uncertainties. Changes in estimates may affect the expected recoverability of the Company's investments in mining properties.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">If the carrying amount of an asset or CGU exceeds its recoverable amount, the carrying amount is reduced to the recoverable amount, and an impairment loss is recognized in the consolidated statements of income in the expense category consistent with the function of the impaired asset or CGU. Hudbay presents impairment losses on the consolidated statements of income as part of results from operating activities. Impairment losses recognized in respect of a CGU are allocated first to reduce the carrying amount of any goodwill allocated to the CGU and then to reduce the carrying amounts of other assets in the CGU on a pro-rata basis for depreciable assets.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="text-align:justify;margin-left:45pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">The Company assesses previously recognized impairment losses each reporting date for any indications that the losses have decreased or no longer exist. Such an impairment loss is reversed, in full or in part, if there have been significant changes with a positive effect on the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized for the asset in prior years. Such reversals of impairment losses are recognized in the consolidated statements of income. An impairment loss recognized in relation to goodwill is not reversed for subsequent increases in the recoverable amount.</span></span></p> </div> <p style="margin:0pt"> </p> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(j)<span style="display:inline-block;width:12.5pt"> </span>Pension and other employee benefits:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay has non-contributory and contributory defined benefit programs for certain of its Canadian employees. The defined benefit pension benefits are based on years of service and final average salary for the salaried plans and are based on a flat dollar amount combined with years of service for the hourly plans. The Company provides non pension health and other post-employment benefits to certain active employees and pensioners (post-employment benefits) and also provides disability income, health benefits and other post-employment benefits to hourly and salaried disabled employees (other long-term employee benefits).</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay accrues its obligations under the defined benefit plans as the employees render the services necessary to earn the pension and post-employment benefits. The actuarial determination of the accrued benefit obligations for pensions and post-employment benefits uses the projected benefit method pro-rated on service (which incorporates management's best estimate of future salary levels, other cost escalation, retirement ages of employees and other actuarial factors). For other long-term employee benefits, the Company recognizes the full cost of the benefit obligation at the time the employee becomes disabled. Actuarial advice is provided by external consultants.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">For the funded defined benefit plans, Hudbay recognizes the deficit or excess of the fair value of plan assets over the present value of the defined benefit obligation as a liability or an asset in the consolidated balance sheets. However, the Company recognizes an excess of assets only to the extent that it represents a future economic benefit which is available in the form of refunds from the plan or reductions in future contributions to the plan. When these criteria are not met, it is not recognized but is disclosed in the notes to the consolidated financial statements. Impacts of minimum funding requirements in relation to past service are considered when determining the balance sheet position.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Defined benefit costs are categorized as follows:</span></span></p> <p style="margin-left:79pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>Service costs (including current service cost, past service cost, as well as gains and losses on curtailments and settlements and administration costs);</span></span></p> <p style="margin-top:0pt;margin-left:79pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>Net interest expense or income; and,</span></span></p> <p style="margin-top:0pt;margin-left:79pt;text-indent:-18pt;text-align:justify;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>Remeasurement.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The first two components of defined benefit costs shown above are recognized in the consolidated statements of income. Past service cost as well as curtailment gains are recognized in the consolidated statements of income in the period of a plan amendment. Net interest is calculated by applying the discount rate at the beginning of the period to the net defined benefit liability or asset.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Purchases and sales of plan assets are recorded on settlement date.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Remeasurement, comprising actuarial gains and losses, the effect of changes to the asset ceiling (if applicable) and the return on plan assets (excluding interest), is reflected immediately in the consolidated balance sheets with a gain or loss recognized in OCI in the period in which they occur. Remeasurement recognized in OCI is reflected in the remeasurement reserve and will not be reclassified to the consolidated statements of income. For the other long-term employee benefits plan, remeasurements are recognized immediately in the consolidated statements of income.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Actuarial determinations used in estimating obligations relating to these plans incorporate assumptions using management's best estimates of factors including plan performance, salary escalation, retirement dates of employees and healthcare cost escalation rates. Due to the complexity of the valuation, the underlying assumptions and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date. In determining the appropriate discount rate, management considers the interest rates on corporate bonds in the respective currency with at least an AA rating, with extrapolated maturities corresponding to the expected duration of the defined benefit obligation. The mortality rate is based on publicly available mortality tables for the specific country. Future salary increases and pension increases are based on expected future inflation rates for the respective country.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay also has defined contribution plans providing pension benefits for certain of its salaried employees and certain of its US employees utilizing 401K plans. The Company recognizes the cost of the defined contribution plans based on the contributions required to be made during each period.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Termination benefits are recognized as an expense when Hudbay is committed demonstrably, without realistic possibility of withdrawal, to a formal detailed plan to either terminate employment before the normal retirement date, or to provide termination benefits as a result of an offer made to encourage voluntary redundancy. Termination benefits for voluntary redundancies are recognized as an expense if the Company has made an offer of voluntary redundancy, it is probable that the offer will be accepted, and the number of acceptances can be estimated reliably. Benefits that are payable more than one year after the reporting period are discounted to their present value.</span></span></p> </div> <p style="margin:0pt"> </p> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(k)<span style="display:inline-block;width:10pt"> </span>Environmental and other provisions:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Provisions are recognized when Hudbay has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and a reliable estimate can be made. The provisions are recorded as management's best estimate of the amount required to settle an obligation.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Provisions are stated at their present value, which is determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Decommissioning, restoration and similar liabilities </span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Provisions are recorded for legal and constructive obligations associated with the future costs of rehabilitating the Company's current and previous operating and development sites. Such costs are associated with decommissioning and restoration activities such as dismantling and removing structures, rehabilitating mines and tailings, and reclamation and re-vegetation of affected areas.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The present value of estimated costs is recorded in the period in which the asset is installed or the environment is disturbed and a reasonable estimate of future costs and discount rates can be made. The provision is discounted using a risk-free rate, and estimates of future cash flows are adjusted to reflect risk.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Subsequent to the initial measurement, the obligation is adjusted to reflect the passage of time and changes in the estimated future cash flows underlying the obligation. The increase in the provision due to the passage of time is recognized as finance expense, whereas increases and decreases due to changes in the estimated future cash flows, which are not the result of current inventory production, are capitalized and depreciated over the life of the related operating asset. Actual costs incurred upon settlement of the site restoration obligation are charged against the provision to the extent the provision was established for those costs. Upon settlement of the liability, a gain or loss may be recorded. For closed sites, changes to estimated costs are recognized immediately in the consolidated statements of income within other expenses.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay assesses the reasonableness of its estimates and assumptions each year and when conditions change, the estimates are revised accordingly. Judgement is required to determine the scope and timing of future decommissioning and restoration activities, as well as best available estimates and assumptions including discount rates, expected timing of decommissioning and restoration costs, inflationary factors and market risks. Changes in cost estimates, which may arise from changes in technology and pricing of the individual components of the cost may result in offsetting changes to the asset and liability and corresponding changes to the associated depreciation and finance costs. In view of the uncertainties concerning these future obligations, the ultimate timing and cost of reclamation and mine closure may differ materially from these estimates.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">If the change in estimate results in a significant increase in the decommissioning liability and therefore an addition to the carrying value of the asset, the Company considers whether this is an indication of impairment of the asset as a whole and, if so, tests for impairment in accordance with IAS 36,<i> Impairment of non-financial assets</i>. If, for mature mines, the revised mine assets net of decommissioning and restoration liabilities exceeds the recoverable value, that portion of the increase is charged directly to expense as an impairment loss, within the gross profit / (loss) line.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">In view of the uncertainties concerning environmental remediation, the ultimate cost of decommissioning and restoration liabilities could differ materially from the estimated amounts provided. The estimate of the total liability is subject to change based on amendments to laws and regulations and as new information concerning Hudbay's operations becomes available. Future changes, if any, to the estimated total liability as a result of amended requirements, laws, regulations and operating assumptions, as well as discount rates, may be significant and would be recognized prospectively as a change in accounting estimate, when applicable. Environmental laws, regulations and technology are continually evolving in all regions in which the Company operates. Hudbay is not able to determine the impact, if any, of environmental laws, regulations and technology that may be enacted in the future on its results of operations or financial position due to the uncertainty surrounding the ultimate form that such future laws and regulations may take.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="text-decoration:underline;margin-top:0pt;margin-bottom:0pt">Onerous contracts</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">A contract is considered to be onerous when the unavoidable costs of meeting obligations under the contract exceed the economic benefits expected to be received under it. Hudbay records a provision for any onerous contracts at the lesser of costs to comply with a contract and costs to terminate it.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Restructuring provisions </span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">A provision for restructuring is recognized when management, with appropriate authority within Hudbay, has approved a detailed and formal restructuring plan, and the restructuring has either commenced or has been announced publicly. Future operating costs are not provided for.</span></span></p> </div> <p style="margin:0pt"> </p> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(l)<span style="display:inline-block;width:13pt"> </span>Financial instruments:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-derivative financial instruments are initially recognized at fair value plus, in the case of a financial asset or financial liability not measured at fair value through profit or loss, directly attributable transaction costs. Measurement in subsequent periods depends on the financial instrument's classification. Hudbay uses trade date accounting for regular way purchases or sales of financial assets. The Company determines the classification of its financial instruments and non-financial derivatives at initial recognition.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial assets and liabilities are offset and the net amount presented in the consolidated balance sheets when, and only when, Hudbay has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The classification of financial assets is based on the results of the contractual characteristics test and the business model assessment which will result in the financial asset being classified as either: amortized cost, fair value through profit or loss ("FVTPL") or fair value through other comprehensive income ("FVTOCI").</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">i.<span style="width:13.5pt;text-indent:0pt;display:inline-block"> </span>Non-derivative financial instruments - classification:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Financial assets at fair value through profit or loss</span></span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Provisionally priced copper and zinc concentrate sales receivables, warrants and investments in securities of junior mining companies are classified as financial assets at fair value through profit or loss and are measured at fair value. The gains or losses related to changes in fair value are reported in the consolidated statements of income.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Amortized cos</span>t</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash, certain receivables, other assets related to agreements with communities near the Peru operations, trade and other payables, long-term debt, deferred consideration, contingent consideration and restricted cash are classified as and measured at amortized cost and are carried at amortized cost using the effective interest rate method, less impairment losses, if any.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Non-derivative financial liabilities</span></span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accounts payable and senior unsecured notes are initially recognized at fair value and subsequently accounted for at amortized cost, using the effective interest method. The amortization of senior unsecured notes issue costs is calculated using the effective interest rate method.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">ii.<span style="width:10pt;text-indent:0pt;display:inline-block"> </span>Derivatives:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Derivatives are initially recognized at fair value when Hudbay becomes a party to the derivative contract and are subsequently re-measured to fair value at the end of each reporting period. The resulting gain or loss is recognized in the consolidated statements of income immediately unless the derivative is designated and effective as a hedging instrument. Derivatives with positive fair value are recognized as assets; derivatives with negative fair value are recognized as liabilities.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Derivatives contracts that are entered to economically hedge a risk exposure but are not designated as a hedging instrument for hedge accounting purposes, and are physically settled, are initially and subsequently measured at fair value. Subsequent movements in fair value are recognized within the revenue line item in the consolidated statements of income.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:63pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Hudbay enters into derivatives contracts to hedge commodity price risk exposure associated with quotational pricing terms in our sales contract as well as for non-quotational pricing ("non-QP"), which are not designated as hedging instrument for hedge accounting purposes. These non-quotational pricing derivative contracts are not physically settled and are referred to as non-QP hedges. These are initially and subsequently measured at fair value. Subsequent movements in fair value of these non-QP hedges are recognized in change in fair value of financial instruments on the consolidated statement of income.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">iii.<span style="width:7.5pt;text-indent:0pt;display:inline-block"> </span>Embedded derivatives:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay considers whether a contract contains an embedded derivative when it becomes a party to the contract. Derivatives embedded in other financial liabilities or other non-financial host contracts are treated as separate derivatives when their risks and characteristics are not closely related to those of the host contracts and the host contracts are not measured at FVTPL.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">iv.<span style="width:8.5pt;text-indent:0pt;display:inline-block"> </span>Fair value of financial instruments:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The fair value of a financial instrument is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm's length transaction.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Fair values of financial instruments traded in active markets are determined based on quoted market prices, where available. Bid prices are generally used for assets held or liabilities to be issued; asking prices are generally used for assets to be acquired or liabilities held.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">For financial instruments not traded in an active market, fair values are determined based on appropriate valuation techniques. Such techniques may include discounted cash flow analysis, using recent arm's length market transactions, reference to the current fair value of another instrument that is substantially the same, and other valuation models.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company applies a hierarchy to classify valuation methods used to measure financial instruments carried at fair value. Levels 1 to 3 are defined based on the degree to which fair value inputs are observable and have a significant effect on the recorded fair value, as follows:</span></span></p> <p style="margin-left:78pt;margin-bottom:0pt;text-indent:-13.5pt;text-align:justify;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span>Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities;</span></span></p> <p style="margin-top:0pt;margin-left:78pt;margin-bottom:0pt;text-indent:-13.5pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span>Level 2: Valuation techniques use significant observable inputs, either directly (i.e. as prices) or indirectly (i.e. derived from prices), or valuations are based on quoted prices for similar instruments; and,</span></span></p> <p style="margin-top:0pt;margin-left:78pt;text-indent:-13.5pt;text-align:justify;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span>Level 3: Valuation techniques use significant inputs that are not based on observable market data (unobservable inputs).</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">An analysis of fair values of financial instruments is provided in note 29.</span></span></p> <p style="text-align:justify;margin-left:63pt;text-indent:-18pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">v.<span style="width:11pt;text-indent:0pt;display:inline-block"> </span>Impairment of financial instruments:</span></span></p> <p style="text-align:justify;margin-left:63pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay recognizes loss allowances for Expected Credit Losses ("ECL") for trade receivables not measured at FVTPL.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Loss allowances for trade receivables are measured at an amount equal to lifetime ECL. ECL is a probability-weighted estimate measured at the present value of all cash shortfalls including the impact of forward-looking information.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay has established a provision based on the Company's historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">vi.<span style="width:7.5pt;text-indent:0pt;display:inline-block"> </span>Derecognition of financial instruments:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay derecognizes financial assets when the contractual rights to the cash flows from the assets expire, or when the Company transfers the rights to receive the contractual cash flows on the financial assets in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Any interest in the transferred financial assets that is created or retained by Hudbay is recognized as a separate asset or liability.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay derecognizes financial liabilities when its contractual obligations are discharged, cancelled or expire or when its terms are modified and the cash flows of the modified liability are substantially different.</span></span></p> </div> <p style="margin:0pt"> </p> <div></div> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(m)<span style="display:inline-block;width:8.5pt"> </span>Taxation:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Current Tax</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the balance sheet date.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay is subject to income taxes in numerous jurisdictions. Significant judgement is required in determining the worldwide provision for income taxes due to the complexity of legislation. There are many transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. The Company recognizes liabilities for anticipated tax issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will affect the income tax and deferred tax provisions in the period in which such determination is made.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Additionally, future changes in tax laws in the jurisdictions in which Hudbay operates could limit the ability of the Company to obtain tax deductions in future periods.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Deferred Tax</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax is recognized using the balance sheet method in respect of temporary differences at the balance sheet date between the tax basis of assets and liabilities, and their carrying amounts for financial reporting purposes.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred income tax liabilities are recognized for all taxable temporary differences, except:</span></span></p> <p style="margin-left:66pt;text-indent:-13.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span>where the deferred income tax liability arises from the initial recognition of goodwill, or the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and</span></span></p> <p style="margin-left:66pt;text-indent:-13.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span>in respect of taxable temporary differences associated with investments in subsidiaries, associates and interest in joint ventures, where the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred income tax assets are recognized for all deductible temporary differences, carry-forward of unused tax assets and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry-forward of unused tax assets and unused tax losses can be utilized, except:</span></span></p> <p style="margin-left:66pt;text-indent:-13.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span>where the deferred income tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and</span></span></p> <p style="margin-left:66pt;text-indent:-13.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span>in respect of deductible temporary differences associated with investments in subsidiaries, associates and interest in joint ventures, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">To the extent that it is probable that taxable profit will be available to offset the deductible temporary differences, Hudbay recognizes the deferred tax asset regarding the temporary difference on decommissioning, restoration and similar liabilities and recognizes the corresponding deferred tax liability regarding the temporary difference on the related assets.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The carrying amount of deferred income tax assets is reviewed at each balance sheet date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized. Unrecognized deferred income tax assets are reassessed at each balance sheet date and are recognized to the extent that it has become probable that future taxable profit will be available to allow the deferred tax asset to be recovered. </span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Judgement is required in determining whether deferred tax assets are recognized on the consolidated balance sheets. Deferred tax assets, including those arising from unutilized tax losses, require management to assess the likelihood of taxable profit in future periods in order to utilize recognized deferred tax assets. Estimates of future taxable income are based on forecast cash flows from operations and the application of existing tax laws in each jurisdiction. To the extent that future cash flows and taxable income differ significantly from estimates, the ability to realize the net deferred tax assets recorded at the balance sheet date could be affected.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the asset is realized or the liability is settled, based on tax rates and tax laws enacted or substantively enacted at the balance sheet date.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred income tax assets and deferred income tax liabilities are offset if a legally enforceable right exists to offset current tax assets against current tax liabilities and the deferred income taxes relate to the same taxable entity and the same taxation authority.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Current and deferred taxes relating to items recognized outside profit or loss (whether in other comprehensive income or directly in equity) are recognized outside profit or loss and not in the consolidated statements of income. Mining taxes and royalties are treated and disclosed as current and deferred taxes if they have the characteristics of an income tax.</span></span></p> </div> <p style="margin:0pt"> </p> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(n)<span style="display:inline-block;width:10pt"> </span>Share capital and reserves: </strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Transaction costs</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Transaction costs directly attributable to equity transactions are recognized as a deduction from equity.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Other capital reserve</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The other capital reserve is used for equity-settled share-based compensation and includes amounts for stocks options granted and not exercised.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Foreign currency translation reserve</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The foreign currency translation reserve is used to record exchange differences arising from the translation of the financial statements of foreign operations. Exchange differences arising from the translation of the financial statements of foreign operations form part of the net investment in the foreign operation. Translation gains and losses remain in the reserve until disposal of all or a portion of the foreign operation.</span></span></p> </div> <p style="margin:0pt"> </p> <div> <p style="text-align:justify;margin-left:22pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(o)<span style="display:inline-block;width:11.5pt"> </span>Flow-through shares </strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Resource expenditure deductions for income tax purposes related to exploration activities funded by flow-through share arrangements are renounced to investors under Canadian income tax legislation. On issuance, the Corporation separates the flow-through share into i) a flow-through share premium, equal to the difference between the current market price of the Corporation's common shares and the issue price of the flow-through share and ii) share capital. Upon qualifying exploration and/or development expenditures being incurred, the sale of tax deductions is recognized as other income in the statement of income and the related liability is reduced. The Company may also be subject to a Part XII.6 tax on flow-through proceeds renounced, in accordance with the Canadian Income Tax Act flow-through regulations. When applicable, the estimated tax payable is accrued until paid.</span></span></p> </div> <p style="margin:0pt"> </p> <div> <p style="text-align:justify;margin-left:22pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(p)<span style="display:inline-block;width:10pt"> </span>Share-based compensation:</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay compensates its employees in part through the use of a Deferred Share Unit ("DSU") plan for non-employee members of the Board of Directors, a Restricted Share Unit ("RSU") plan for employees, a Performance Share Unit ("PSU") plan for employees and a stock option plan for employees. These plans are included in provisions on the consolidated balance sheets and further described in note 26. Changes in the fair value of the liabilities are recorded in the consolidated statements of income.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash-settled transactions, consisting of DSUs, RSUs and PSUs, are initially measured at fair value and recognized as an obligation at the grant date. The liabilities are remeasured to fair value at each reporting date up to and including the settlement date, with changes in fair value recognized in the consolidated statements of income. Hudbay values the liabilities based on the change in the Company's share price. Additional DSUs, RSUs and PSUs are credited to reflect dividends paid on Hudbay common shares over the vesting period. The current portion of the liability reflects those grants that have vested or that are expected to vest within twelve months.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">DSUs vest on the grant date and are redeemable when a participant is no longer a member of the Board of Directors. Issue and redemption prices of DSUs are based on the average closing price of the Company's common shares for the five trading days prior to issuance or redemption.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">RSUs and PSUs are issued under Hudbay's Long Term Equity Plan ("LTEP Plan") and vest on or before the third anniversary of the grant. RSUs and PSUs granted under the LTEP Plan may be settled in the form of the Company's common shares or, at the option of Hudbay, the cash equivalent based on the market price of the common shares as of the vesting date. Hudbay has historically settled RSUs in cash. Except in specified circumstances, RSUs and PSUs terminate when an employee ceases to be employed by the Company. Valuations of RSUs and PSUs reflect estimated forfeitures.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Equity-settled transactions with employees relate to stock options and are measured by reference to the fair value at the earlier of the grant date and the date that the employee unconditionally became entitled to the award. Fair value is determined using a Black-Scholes option pricing model, which relies on estimates of the future risk-free interest rate, future dividend payments, future share price volatility and the expected average life of the options. Hudbay believes this model adequately captures the substantive features of the option awards and is appropriate to calculate their fair values. The fair value determined at the grant date is recognized over the vesting period in accordance with vesting terms and conditions, with a corresponding increase to other capital reserves. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market vesting conditions are expected to be met.</span></span></p> </div> <p style="margin:0pt"> </p> <div> <p style="text-align:justify;margin-left:22pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(q)<span style="display:inline-block;width:10pt"> </span>Earnings per share:</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company presents basic and diluted earnings (loss) per share ("EPS") data for its common shares. Basic EPS is calculated by dividing the profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all dilutive potential common shares, which previously consisted of stock options granted to employees and warrants.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">When calculating earnings per share for periods where the Company has a loss, Hudbay's calculation of diluted earnings per share excludes any incremental shares from the assumed conversion of stock options as they would be anti-dilutive.</span></span></p> </div> <p style="margin:0pt"> </p> <div> <p style="text-align:justify;margin-left:22pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(r)<span style="display:inline-block;width:11.5pt"> </span>Leases:</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Leases, under which substantially all the risks and rewards incidental to ownership of the leased item are transferred to Hudbay, are capitalized as assets at the inception of the lease at the lower of fair value or the present value of the minimum lease payments. Lease payments are apportioned between finance charges and the reduction of the liability so as to achieve a constant periodic rate of interest on the remaining balance of the liability. Finance charges are reflected in the consolidated statements of income as finance costs.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-ROU lease payments are recognized as an expense in the consolidated statements of income on a straight-line basis over the lease term.</span></span></p> </div> <p style="margin:0pt"> </p> <div> <p style="margin-left:27pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(s)<span style="display:inline-block;width:7.5pt"> </span>Segment reporting:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">An operating segment is a component of the Company that engages in business activities from which it may earn revenue and incur expenses and for which discrete financial information is available. Hudbay's chief executive officer regularly reviews the operating results of each operating segment to make decisions about resources to be allocated to the segment and assess its performance. In determining operating segments, Hudbay considers location and decision-making authorities. Refer to note 34.</span></span></p> </div> </div> </div> <div> <div> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(a)<span style="display:inline-block;width:10.5pt"> </span>Basis of consolidation:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Intercompany balances and transactions are eliminated upon consolidation. When a Hudbay entity transacts with an associate or jointly controlled entity of the Company, unrealized profits and losses are eliminated to the extent of Hudbay's interest in the relevant associate or joint venture. The accounting policies of Hudbay's entities are changed when necessary to align them with the policies adopted by the Company.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Subsidiaries </span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">A subsidiary is an entity controlled by Hudbay. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Non-controlling interest</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-controlling interest in subsidiaries are identified separately from the Company's equity in the subsidiaries. The interest of non-controlling shareholders may be initially measured either at fair value or at the non-controlling interest proportionate share of the fair value of the acquiree's identifiable net assets. The choice of measurement basis is made on an acquisition-by-acquisition basis. Subsequent to acquisition, the carrying amount of non-controlling interest is the amount of that interest at initial recognition plus the non-controlling interest share of subsequent changes in equity. Total comprehensive income is attributed to non-controlling interest even if this results in the non-controlling interest having a deficit balance.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Business combinations and goodwill</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Should Hudbay make an acquisition, it first determines whether the assets acquired and liabilities assumed constitute a business, in which case the acquisition requires accounting as a business combination. Management applies judgement in determining whether the acquiree is capable of being conducted and managed for the purpose of providing a return, considering the inputs of the acquiree and processes applied to those inputs that have the ability to create outputs.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay applies the acquisition method of accounting to business combinations, whereby the goodwill is measured at the acquisition date as the fair value of the consideration transferred including the recognized amount of any non-controlling interest in the acquiree. When the excess is negative, a bargain purchase gain is recognized immediately in the consolidated statements of income. The assessment of fair values on acquisition includes those mineral reserves and resources that are able to be reliably measured. In determining these fair values, management must also apply judgement in areas including future cash flows, metal prices, exchange rates and appropriate discount rates. Changes in such estimates and assumptions could result in significant differences in the amount of goodwill recognized.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The consideration transferred is the aggregate of the fair values, at the date of the acquisition, of the sum of the assets transferred, the liabilities incurred or assumed, and the equity instruments issued by the acquirer in exchange for control of the acquiree. Acquisition-related costs are recognized in the consolidated statements of income as incurred, unless they relate to issuance of debt or equity securities.</span></span></p> </div> <div></div> <div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Where applicable, the consideration transferred includes any asset or liability resulting from a contingent consideration arrangement and measured at its acquisition date fair value. Subsequent changes in such fair values are adjusted against the cost of acquisition where they qualify as measurement period adjustments. All other subsequent changes in the fair value of contingent consideration classified as an asset or liability are accounted for in accordance with relevant IFRS Accounting Standards. Changes in the fair value of contingent consideration classified as equity are not recognized.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Where a business combination is achieved in stages, the Company's previously held interest in the acquired entity are remeasured to fair value at the acquisition date, which is the date Hudbay attains control, and any resulting gain or loss is recognized in the consolidated statements of income. Amounts previously recognized in other comprehensive income ("OCI") related to interest in the acquiree prior to the acquisition date are reclassified to the consolidated statements of income, where such treatment would be appropriate if that interest were disposed of.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of Hudbay's CGUs that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. Goodwill is allocated to the lowest level at which it is monitored for internal management purposes and is not larger than an operating segment before aggregation. Where goodwill forms part of a CGU and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the determination of any gain or loss on disposal.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Goodwill is not amortized and is tested for impairment annually and whenever there is an indication of impairment. If any such indication exists, the recoverable amount of the CGU is estimated in order to determine the extent of the impairment, if any. The recoverable amount is determined as the higher of fair value less direct costs to sell and the CGU's value in use. When the recoverable amount of the CGU is less than the carrying amount of that CGU, the impairment loss is allocated to reduce the carrying amount of any goodwill allocated to that CGU first, and then to the other assets of that CGU on a pro-rata basis of the carrying amount of each asset in the CGU. An impairment loss in respect of goodwill is not reversed.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Fair value for mineral interest and related goodwill is generally determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset, including any expansion prospects, and its eventual disposal, using assumptions that an independent market participant may take into account.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Value in use is determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset in its present form and its eventual disposal. Value in use is determined by applying assumptions specific to Hudbay's continued use and cannot take into account future development.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The weighted average cost of capital of Hudbay or comparable market participants is used as a starting point for determining the discount rates, with appropriate adjustments for the risk profile of the countries in which the individual CGUs operate and the specific risks related to the development of the project.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Where the asset does not generate cash flows that are independent of other assets, Hudbay estimates the recoverable amount of the CGU to which the asset belongs. If the carrying amount of an asset or CGU exceeds its recoverable amount, the carrying amount of the asset or CGU is reduced to its recoverable amount. An impairment loss is recognized as an expense in the consolidated statements of income.</span></span></p> </div> </div> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(b)<span style="display:inline-block;width:10pt"> </span>Translation of foreign currencies: </strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Management determines the functional currency of each Hudbay entity as the currency of the primary economic environment in which the entity operates.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Foreign currency transactions</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Transactions in foreign currencies are translated to the respective functional currencies of Hudbay's entities at exchange rates in effect at the transaction dates.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">At the end of each reporting period, monetary assets and liabilities denominated in foreign currencies are translated to the functional currency using the closing exchange rate. Non-monetary assets and liabilities measured at fair value are translated using the exchange rates at the date when fair value was determined. Non-monetary assets and liabilities measured at historical cost in a foreign currency are translated using exchange rates that were in effect at the transaction dates. The same translations are applied when an entity prepares its financial statements from books and records maintained in a currency other than its functional currency, except revenue and expenses may be translated at monthly average exchange rates that approximate those in effect at the transaction dates.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Foreign currency gains and losses arising on period-end revaluations are recognized in the consolidated statements of income, except for a financial liability designated as a hedge of a net investment in a foreign operation, or qualifying cash flow hedges, which are recognized in OCI.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Foreign operations</span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">For the purpose of the consolidated financial statements, assets and liabilities of Hudbay's entities that have functional currencies other than the US dollar are translated to US dollars at the reporting date using the closing exchange rate. Revenue and expenses are translated at monthly average exchange rates that approximate those in effect at the transaction dates. Differences arising from these foreign currency translations are recognized in OCI and presented within equity in the foreign currency translation reserve. When a foreign operation is disposed, the relevant exchange differences accumulated in the foreign currency translation reserve are transferred to the consolidated statements of income as part of the profit or loss on disposal. On the partial disposal of a subsidiary that includes a foreign operation, the relevant proportion of such amount is reattributed to non-controlling interest. On disposal of a partial investment in an associate or joint venture that includes a foreign operation while retaining significant influence or joint control, the relevant proportion is reclassified to profit or loss.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Net investment in a foreign operation</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign currency gains and losses arising on translation of a monetary item receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur in the foreseeable future are considered to form part of a net investment in the foreign operation. Such gains and losses are recognized in OCI and presented within equity in the foreign currency translation reserve.</span></span></p> </div> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(c)<span style="display:inline-block;width:11.5pt"> </span>Revenue recognition: </strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Revenue from the sale of goods is measured at the fair value of the consideration received or receivable, net of treatment and refining charges. Revenue from the sale of by-products is included within revenue.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Revenue is recognized when control of the goods sold has been transferred to the customer. Control is deemed to have passed to the customer when significant risk and reward of the product has passed to the customer, Hudbay has a present right to payment, and physical possession of the product has been transferred to the customer. Sales of doré are recorded when a trade confirmation is duly signed and executed between Hudbay and the end purchaser. Sale of concentrate and finished zinc frequently occur under the following terms, and management has assessed these terms in order to determine timing of transfer of control and revenue recognition as generally outlined in the following table.</span></span></p> <div style="margin-left:55.35pt"> <table border="1" cellpadding="3" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="width:51%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="text-indent:18pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>Incoterms used by Hudbay </strong></span></span></p> </td> <td style="width:45%;padding-right:2.15pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="margin-left:13.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>Revenue recognized when goods:</strong></span></span></p> </td> </tr> <tr> <td style="width:51%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="text-indent:18pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost, Insurance and Freight (CIF)</span></span></p> </td> <td style="border:1pt solid #000000;width:45%;vertical-align:bottom;padding-right:2.15pt;padding-left:2.15pt"> <p style="margin-left:13.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Are loaded on board the vessel</span></span></p> </td> </tr> <tr> <td style="width:51%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="text-indent:18pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Free on Board (FOB)</span></span></p> </td> <td style="border:1pt solid #000000;width:45%;vertical-align:bottom;padding-right:2.15pt;padding-left:2.15pt"> <p style="margin-left:13.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Are loaded on board the vessel</span></span></p> </td> </tr> <tr> <td style="width:51%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="text-indent:18pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Delivered at place (DAP)</span></span></p> </td> <td style="border:1pt solid #000000;width:45%;vertical-align:bottom;padding-right:2.15pt;padding-left:2.15pt"> <p style="margin-left:13.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arrive at the named place of destination</span></span></p> </td> </tr> <tr> <td style="width:51%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="text-indent:18pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Delivered at terminal (DAT)</span></span></p> </td> <td style="border:1pt solid #000000;width:45%;vertical-align:bottom;padding-right:2.15pt;padding-left:2.15pt"> <p style="margin-left:13.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arrive at the named place of destination</span></span></p> </td> </tr> <tr> <td style="width:51%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="text-indent:18pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Free Carrier (FCA)</span></span></p> </td> <td style="border:1pt solid #000000;width:45%;vertical-align:bottom;padding-right:2.15pt;padding-left:2.15pt"> <p style="margin-left:13.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arrive at the named place of delivery</span></span></p> </td> </tr> <tr> <td style="width:51%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="text-indent:18pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Carriage and Insurance Paid (CIP)</span></span></p> </td> <td style="width:45%;padding-right:2.15pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid #000000"> <p style="margin-left:13.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arrive at the named place, upon delivery of the goods by the first carrier</span></span></p> </td> </tr> </table> </div> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Sales of copper and zinc concentrate and certain other products are provisionally priced. For these contracts, sales prices are subject to final adjustment at the end of a future period after shipment, based on quoted market prices during the quotational period specified in the contract. Revenue is recognized when the above criteria are achieved, using weight and assay results and forward market prices to estimate the fair value of the total consideration receivable. Therefore, revenue is initially recorded based on an initial provisional invoice. Subsequently, at each reporting date, until the provisionally priced sale is finalized, sales receivables are marked to market, with adjustments (both gains and losses) recorded within revenue separately as "Pricing and volume adjustments" in the notes to the consolidated financial statements and in trade and other receivables on the consolidated balance sheets. As per IFRS 15 <i>Revenue from contracts with customers</i>, variability in price is deemed to be fair value movements on provisionally priced receivables under the scope of IFRS 9 <i>Financial Instruments</i>; variability in quantities is deemed to be variable consideration. The variable consideration from weights and assay changes to quantities has been assessed to be insignificant to warrant precluding revenue being recorded as a result of possible future sales reversals. An annual analysis of the accuracy of our weights and assays is completed, and if the accuracy rate falls below a certain threshold, management then evaluates whether revenue from future sales should be constrained as a result of it being highly probable that there would be a significant revenue reversal in the future.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Hudbay only includes in the transaction price an amount which is not highly likely to be subject to significant subsequent revenue reversal. Within sales contracts with customers, separate performance obligations may arise pertaining to the shipping of goods sold. If applicable, costs and the transaction price are allocated on a relative standalone selling basis to any separate performance obligations and are recognized over the period of time the goods sold are shipped, on a gross basis.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay recognizes deferred revenue in the event it receives payments from customers before a sale meets criteria for revenue recognition.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Precious metals stream contracts, which at inception of the contract are determined that they can be satisfied through the delivery of Hudbay's own production of non-financial items (i.e. gold and silver credits) rather than cash or other financial assets, are accounted for as deferred revenue. If settlement with Hudbay's own production of gold and silver is not possible, the stream transaction is recognized as a financial liability since settlement may require a cash payment. This would cause a change to the accounting treatment, resulting in the revaluation of the agreement to the fair value through the consolidated statements of income on a recurring basis.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred revenue associated with precious metals stream contracts are subject to variable consideration and contain a significant financing component since funds were received in advance of the delivery of concentrate. When a significant financing component is recognized, finance expense will be higher and revenues will be higher as the larger deferred revenue balance is amortized to revenues. A market-based discount rate is utilized at the inception of each of the respective stream agreements to determine a discount rate for computing the interest charges for the significant financing component of the deferred revenue balance. As product is delivered, the deferred revenue amount including accreted interest will be drawn down. The draw down rate requires the use of proven and probable reserves and certain resources in the calculation that are beyond proven and probable reserves which management is reasonably confident will be transferable to reserves. Key estimates used in determining the significant financing component include the discount rate and the reserve and resources assumed for conversion.</span></span></p> </div> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(d)<span style="display:inline-block;width:10pt"> </span>Cost of sales:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of sales consists of those costs previously included in the measurement of inventory sold during the period, as well as certain costs not included in the measurement of inventory, such as the cost of warehousing and distribution to customers, provisional pricing adjustments related to purchased concentrates, profit sharing, royalty payments, share-based compensation expense and other indirect expenses related to producing operations.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of sales also include non-cash net realizable value adjustments to inventory, one-time adjustments related to overheads incurred when not operating at normal capacity and one-time labour charges related to facilitating the production of inventories for past service pension costs, curtailment gains and severance.</span></span></p> </div> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(e)<span style="display:inline-block;width:11.5pt"> </span>Cash and cash equivalents:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash and cash equivalents include cash, demand deposits and short-term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. Cash equivalents have maturities of three months or less at the date of acquisition. Interest earned is included in finance income on the consolidated statements of income and in investing activities on the consolidated statements of cash flows.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Amounts that are restricted from being used for at least twelve months after the reporting date or are not available for general disbursement, like a debt service account are classified as non-current assets and presented in other financial assets on the consolidated balance sheets. Changes in restricted cash balances are classified as investing or financing activities on the consolidated statements of cash flows.</span></span></p> </div> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(f)<span style="display:inline-block;width:12.5pt"> </span>Inventories: </strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Inventories consist of stockpiles, finished goods inventory (concentrates and metals), and materials and supplies. Concentrates, doré, metals and all other saleable products are valued at the lower of cost and estimated net realizable value. Net realizable value represents the estimated selling price for inventories less all estimated direct and indirect costs of completion and costs necessary to make the sale. Where the net realizable value is less than cost, the difference is charged to the consolidated statements of income as an impairment charge in cost of sales. Costs associated with stripping activities in an open pit mine are capitalized to inventory and recorded through cost of sales unless the stripping activity can be shown to improve access to further quantities of ore that will be mined in future periods, in which case, the stripping costs are capitalized to property, plant and equipment.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of production of concentrate inventory is determined on a weighted average cost basis and the cost of production of finished metal inventory is determined using the first in first out basis. The cost of production includes direct costs associated with conversion of production inventory based on normal production capacity: material, labour, contractor expenses, purchased concentrates, and an attributable portion of production overheads and depreciation of all property, plant and equipment involved with the mining and production process. Hudbay measures in-process inventories based on assays of material received at metallurgical plants and estimates of recoveries in the production processes. Due to significant uncertainty associated with volume and metal content, immaterial costs are not allocated to routine operating levels of stockpiled ore. Estimates and judgements are required to assess the nature of any significant changes to levels of ore stockpiles and determining whether allocation of costs is required.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Supplies are valued at the lower of average cost and net realizable value.</span></span></p> </div> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(g)<span style="display:inline-block;width:10.5pt"> </span>Exploration and evaluation expenditures: </strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exploration and evaluation activity begins when Hudbay obtains legal rights to explore a specific area and involves the search for mineral reserves, the determination of technical feasibility, and the assessment of commercial viability of an identified resource. Expenditures incurred in the exploration and evaluation phase include the cost of acquiring interest in mineral rights, licenses and properties and the costs of Hudbay's exploration activities, such as researching and analyzing existing exploration data, gathering data through geological studies, exploratory drilling, trenching, sampling, and certain feasibility studies.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay expenses the cost of its exploration and evaluation activities and capitalizes the cost of acquiring interest in mineral rights, licenses and properties in business combinations, asset acquisitions or option agreements. Amounts capitalized are recognized as exploration and evaluation assets and presented in property, plant and equipment. Exploration and evaluation assets acquired as a result of an asset acquisition or option agreement are initially recognized at cost, and those acquired in a business combination are recognized at fair value on the acquisition date. They are subsequently carried at cost less accumulated impairment. No depreciation is charged during the exploration and evaluation phase. Hudbay expenses the cost of subsequent exploration and evaluation activity related to acquired exploration and evaluation assets. Cash flows associated with acquiring exploration and evaluation assets are classified as investing activities in the consolidated statements of cash flows; those associated with exploration and evaluation expenses are classified as operating activities.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Judgement is required in determining whether the respective costs are eligible for capitalization where applicable, and whether they are likely to be recoverable, which may be based on assumptions about future events and circumstances. Estimates and assumptions made may change if new information becomes available.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay monitors exploration and evaluation assets for factors that may indicate their carrying amounts are not recoverable. If such indicators are identified, the Company tests the exploration and evaluation assets or their CGUs, as applicable, for impairment. Hudbay also tests for impairment when assets reach the end of the exploration and evaluation phase.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exploration and evaluation assets are transferred to capital works in progress within property, plant and equipment once the Company determines that probable future economic benefits will be generated as a result of the expenditures. Hudbay's determination of probable future economic benefit is based on management's evaluation of the technical feasibility and commercial viability of the geological properties of a given ore body based on information obtained through evaluation activities, including metallurgical testing, resource and reserve estimates and the economic assessment of whether the ore body can be mined economically. Tools that may be used to determine this include a preliminary feasibility study, confidence in converting resources into reserves and the probability that the property could be developed into a mine site. At that time, the property is considered to enter the development phase, and subsequent evaluation costs are capitalized.</span></span></p> </div> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(h)<span style="display:inline-block;width:10pt"> </span>Property, plant and equipment:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay measures items of property, plant and equipment at cost less accumulated depreciation and any accumulated impairment losses.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The initial cost of an item of property, plant and equipment includes its purchase price or construction costs, including import duties and non-refundable purchase taxes, any costs directly attributable to bringing the asset into operation, and for qualifying assets, borrowing costs. The initial cost of property, plant and equipment also includes the initial estimate of the cost of dismantling and removing the item and restoring the site on which it is located, the obligation which Hudbay incurs either when the item is acquired or as a consequence of having used the item during a particular period for purposes other than to produce inventories during that period.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capitalization of costs ceases once an asset is in the location and condition necessary for it to be capable of operating in the manner intended by management. At this time, depreciation commences. For a new mine, this occurs upon commencement of commercial production. Any revenues less cost to produce, earned prior to commencement of commercial production, are included in the consolidated statements of income.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Carrying amounts of property, plant and equipment, including right-of-use ("ROU") assets, are depreciated to their estimated residual value over the estimated useful lives of the assets or the estimated life of the related mine or plant, if shorter. Where components of an asset have different useful lives, depreciation is calculated on each separate component. Components may be physical or non-physical, including the cost of regular major inspections and overhauls required in order to continue operating an item of property, plant and equipment.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Certain items of property, plant and equipment are depreciated on a unit-of-production basis. The unit-of-production method is based on proven and probable tonnes of ore reserves. There are numerous uncertainties inherent in estimating ore reserves, and assumptions that were valid at the reporting date may change when new information becomes available. The actual volume of ore extracted and any changes in these assumptions could affect prospective depreciation rates and carrying values.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The carrying amount of an item of property, plant and equipment is derecognized on disposal or when no future economic benefits are expected from its use or disposal. Upon derecognition of an item of property, plant and equipment, the difference between its carrying value and net sales proceeds, if any, is presented as a gain or loss in other operating income or expense in the consolidated statements of income.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">i.<span style="width:13.5pt;text-indent:0pt;display:inline-block"> </span>Capital works in progress:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capital works in progress consist of items of property, plant and equipment in the course of construction or mineral properties in the course of development, including those transferred upon completion of the exploration and evaluation phase. On completion of construction or development, costs are transferred to plant and equipment and/or mining properties as appropriate. Capital works in progress are not depreciated.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">ii.<span style="width:10.17pt;text-indent:0pt;display:inline-block"> </span>Mining properties:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Mining properties consist of costs transferred from capital works in progress when a mining property reaches commercial production, costs of subsequent mine and exploration development, and acquired mining properties in the production stage.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Mining properties include costs directly attributable to bringing a mineral asset into the state where it is capable of operating in the manner intended by management and includes such costs as the cost of shafts, ramps, track haulage drifts, ancillary drifts, pumps, electrical substations, refuge stations, ventilation raises, permanent manways, and ore and waste pass raises. The determination of development costs to be capitalized during the production stage of a mine operation requires the use of judgements and estimates such as estimates of tonnes of waste to be removed over the life of the mining area and economically recoverable reserves extracted as a result.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">A mining property is considered to be capable of operating in a manner intended by management when it commences commercial production based on pre-established criteria. Upon commencement of commercial production, a mining property is depreciated on a unit-of-production method. Unit-of-production depreciation rates are determined based on the related proven and probable mineral reserves and associated future development costs.</span></span></p> <p style="text-align:justify;margin-left:63pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Subsequent mine development costs are capitalized to the extent they are incurred in order to access reserves mineable over more than one year. Ongoing maintenance and development expenditures are expensed as incurred and included in cost of sales in profit or loss. These include ore stope access drifts, footwall and hangingwall drifts in stopes, drawpoints, drill drifts, sublevels, slots, drill raises, stope manway access raises and definition diamond drilling.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">iii.<span style="width:7.5pt;text-indent:0pt;display:inline-block"> </span>Plant and equipment:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Plant and equipment consists of buildings and fixtures, surface and underground fixed and mobile equipment and assets under lease.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Plant and equipment are depreciated on either unit-of-production or straight-line basis based on factors including the production life of assets and mineable reserves. In general, mining assets are depreciated using a unit-of-production method; equipment is depreciated using the straight-line method, based on the shorter of its useful life and that of the related mine or facility; and plants are depreciated using the straight-line method, with useful lives limited by those of related mining assets.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">iv.<span style="width:9pt;text-indent:0pt;display:inline-block;margin-top:0pt;margin-bottom:0pt"> </span>Right-of-use lease assets:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">At inception of a contract, Hudbay assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company assesses the following criteria in the determination of whether a contract conveys the right to control the use of an identified asset:</span></span></p> <p style="margin-left:90pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:15pt"> </span>The contract involves the use of an identified asset - this may be specified explicitly or implicitly, and should be physically distinct or represent substantially all of the capacity of a physically distinct asset. If the supplier has substantive substitution rights, then the asset is not identified;</span></span></p> <p style="margin-top:0pt;margin-left:90pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:15pt"> </span>Hudbay has the right to obtain substantially all of the economic benefits from use of the asset throughout the period of use; and</span></span></p> <p style="margin-top:0pt;margin-left:90pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:15pt"> </span>Hudbay has the right to direct the use of the asset by means of decision making rights that are most relevant to changing how and for what purpose the asset is used. In the case where decisions about the asset's purpose is predetermined, Hudbay is deemed to have the right to direct the use of the asset if either:</span></span></p> <p style="margin-top:0pt;margin-left:117pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">▪<span style="display:inline-block;width:15pt"> </span>Hudbay has the right to operate the asset; or,</span></span></p> <p style="margin-top:0pt;margin-left:117pt;text-indent:-18pt;text-align:justify;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">▪<span style="display:inline-block;width:15pt"> </span>Hudbay designed the asset in a way that predetermines how and for what purpose it will be used.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company recognizes a ROU asset and lease liability at the lease commencement date. The initial measurement of the ROU asset is on a present value basis. This is based on the calculated lease liability plus any initial direct costs incurred, an estimate of removal or restoration costs, and any payments made prior to commencement of the lease less any lease incentives received.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The right of use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The estimated useful lives of the right-of-use assets are determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The lease liability is measured at the present value of the lease payments that are yet to be paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be easily determined, Hudbay's incremental borrowing rate. Generally, the Company uses its incremental borrowing rate as the discount rate for applicable leases.</span></span></p> <p style="text-align:justify;margin-left:63pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Lease payments included in the measurement of the lease liability comprise fixed payments including in substance fixed payments and variable payments that depend on an index or rate, amounts expected to be payable under a residual value guarantee and the additional costs Hudbay reasonably expects to incur due to purchase options, extension options and termination options reasonably expected to be exercised.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in the expected future cash flows of a leasing contract either due to a change in index or rate, or due to a change in terms of the contract. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset is zero.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay has elected not to separate non-lease components and account for the lease and non-lease components as a single lease component for lease contracts of all asset classes.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company has elected not to recognize ROU assets and lease liabilities for short-term leases of machinery that have a lease term of 12 months or less and leases of low-value assets. Hudbay recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay does not enter into transactions where the Company acts as a lessor.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The incremental borrowing rate used to discount leases and to compute interest for new ROU leases is considered a key management judgement.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">v.<span style="width:11pt;text-indent:0pt;display:inline-block;margin-top:0pt;margin-bottom:0pt"> </span>Depreciation rates of major categories of assets:</span></span></p> <div style="margin-left:90pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:11.7pt"> </span>Capital works in progress</span></span></td> <td style="width:60%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">- not depreciated</span></span></td> </tr> <tr> <td><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:11.7pt"> </span>Mining properties</span></span></td> <td style="width:60%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">- unit-of-production</span></span></td> </tr> <tr> <td><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:11.7pt"> </span>Mining asset</span></span></td> <td style="width:60%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">- unit-of-production</span></span></td> </tr> <tr> <td><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:11.7pt"> </span>Plant and Equipment</span></span></td> <td style="width:60%"> </td> </tr> <tr> <td style="padding-left:30pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">◦<span style="display:inline-block;width:15pt"> </span>Equipment</span></span></td> <td style="width:60%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">- straight-line over 1 to 20 years</span></span></td> </tr> <tr> <td style="padding-left:30pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">◦<span style="display:inline-block;width:15pt"> </span>Other plant assets</span></span></td> <td style="width:60%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">- straight-line over 1 to 20 years/unit-of-production</span></span></td> </tr> <tr> <td><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:11.7pt"> </span>ROU Assets</span></span></td> <td style="width:60%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">- straight-line over 1 to 20 years</span></span></td> </tr> </table> </div> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay reviews its depreciation methods, remaining useful lives and residual values at least annually and accounts for changes in estimates prospectively.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">vi.<span style="width:8pt;text-indent:0pt;display:inline-block"> </span>Commercial production:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Commercial production is the level of activities intended by management for a mine, or a mine and mill complex, to be capable of operating in the manner intended by management. Hudbay considers a range of factors when determining the level of activity that represents commercial production for a particular project, including a predetermined percentage of design capacity for the mine and mill; achievement of continuous production, ramp-ups, or other output; or specific factors such as recoveries, grades, or inventory build-ups. In a phased mining approach, management may consider achievement of specific milestones at each phase of completion. In a non-phased mining approach, management considers average actual metrics that are at least 60% of average design capacity or plan over a continuous period. Management assesses the operation's ability to sustain production over a period of approximately one to three months, depending on the complexity related to the stability of continuous operation. Commercial production is considered to have commenced, and depreciation expense is recognized, at the beginning of the month after criteria have been met.</span></span></p> <p style="text-align:justify;margin-left:63pt;text-indent:-18pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">vii.<span style="width:6pt;text-indent:0pt;display:inline-block"> </span>Capitalized borrowing costs:</span></span></p> <p style="text-align:justify;margin-left:63pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company capitalizes borrowing costs that are directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time, generally one year or more, to get ready for their intended use or sale. Capitalization of borrowing costs ceases once the qualifying assets commence commercial production or are otherwise ready for their intended use or sale.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Where funds are borrowed specifically to finance a project, the amount capitalized represents the actual borrowing costs incurred. Where the funds used to finance a project form part of general borrowings, the amount capitalized is calculated using a weighted average of interest rates applicable to relevant general borrowings of Hudbay during the period, to a maximum of actual borrowing costs incurred. Investment income earned by temporarily investing specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization. Capitalization of interest is suspended during extended periods in which active development is interrupted.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">All other borrowing costs are recognized in the consolidated statements of income in the period in which they are incurred.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">viii.<span style="width:3pt;text-indent:0pt;display:inline-block"> </span>Capitalized stripping costs:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Costs associated with stripping activities in an open pit mine are capitalized to inventory and recorded through cost of sales unless the stripping activity can be shown to improve access to further quantities of ore that will be mined in future periods, in which case, the stripping costs are capitalized to property, plant and equipment. Capitalized stripping costs are included in "mining properties" within property, plant and equipment.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capitalized stripping costs are depreciated using a units-of-production method over the expected reserves within a given phase of mine development.</span></span></p> </div> straight-line over 1 to 20 years straight-line over 1 to 20 years/unit-of-production straight-line over 1 to 20 years <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(i)<span style="display:inline-block;width:14pt"> </span>Impairment of non-financial assets: </strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">At the end of each reporting period, Hudbay reviews the carrying amounts of property, plant and equipment, exploration and evaluation assets and intangible assets - computer software to determine whether there is any indication of impairment. If any such indication exists, the Company estimates the recoverable amount of the asset in order to determine the extent of the impairment loss, if any. Hudbay generally assesses impairment at the level of CGUs, which are the smallest identifiable groups of assets that generate cash inflows that are largely independent of cash inflows from other assets.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay's CGUs consist of Manitoba, British Columbia, Peru, Arizona and greenfield exploration assets.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company allocates near mine exploration and evaluation assets to CGUs based on their operating segment, geographic location and management's intended use for the property. Near mine exploration and evaluation assets are allocated to CGUs separate from those containing producing or development-phase assets, except where such exploration and evaluation assets have the potential to significantly affect the future production of producing or development-phase assets.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Goodwill is tested for impairment annually and whenever there is an indication that the asset may be impaired. The Company performs goodwill impairment tests on an annual basis as at July 1 each year. This represents a change in accounting policy regarding the timing of the annual goodwill impairment test which was previously performed as at December 31. If the carrying value of the CGU or group of CGUs to which goodwill is assigned exceeds its recoverable amount, an impairment loss is recognized. Goodwill impairment losses are recorded in the consolidated statements of income and they are not subsequently reversed.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Where an indicator of impairment exists, a formal estimate of the recoverable amount of the asset or CGU is made. The recoverable amount is the higher of the fair value less costs of disposal and value in use:</span></span></p> <p style="margin-left:79pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>Fair value less costs of disposal is the amount obtainable from the sale of the asset or CGU in an arm's length transaction between knowledgeable, willing parties, less costs of disposal. Fair value for mineral assets is often determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset, including any expansion prospects, and its eventual disposal, using assumptions that an independent market participant may take into account. These cash flows are discounted by an appropriate discount rate that reflects current market assessments of the time value of money and the risks specific to the asset to arrive at a net present value of the asset.</span></span></p> <p style="margin-left:79pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>Value in use is determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset or CGU in its present form and its eventual disposal, discounted using a pre-tax rate that reflects current market assessments of the time value of money and risks specific to the asset for which estimates of future cash flows have not been adjusted. Value in use calculations apply assumptions specific to the Company's continued use and cannot take into account future development. These assumptions are different to those used in calculating fair value, and consequently the value in use calculation is likely to give a different result to a fair value calculation.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay estimates future cash flows based on estimated future recoverable mine production, expected sales prices (considering current and historical commodity prices, price trends and related factors), production levels and cash costs of production, all based on detailed engineering LOM plans. Future recoverable mine production is determined from reserves and resources after taking into account estimated dilution and recoveries during mining, and estimated losses during ore processing and treatment. Estimates of recoverable production from measured, indicated and inferred mineral resources not included in the LOM plan are assessed for economic recoverability and may also be included in the valuation of fair value less costs of disposal. Gains from the expected disposal of assets are not included in estimated future cash flows. Assumptions underlying future cash flow estimates are subject to risks and uncertainties. Changes in estimates may affect the expected recoverability of the Company's investments in mining properties.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">If the carrying amount of an asset or CGU exceeds its recoverable amount, the carrying amount is reduced to the recoverable amount, and an impairment loss is recognized in the consolidated statements of income in the expense category consistent with the function of the impaired asset or CGU. Hudbay presents impairment losses on the consolidated statements of income as part of results from operating activities. Impairment losses recognized in respect of a CGU are allocated first to reduce the carrying amount of any goodwill allocated to the CGU and then to reduce the carrying amounts of other assets in the CGU on a pro-rata basis for depreciable assets.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="text-align:justify;margin-left:45pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">The Company assesses previously recognized impairment losses each reporting date for any indications that the losses have decreased or no longer exist. Such an impairment loss is reversed, in full or in part, if there have been significant changes with a positive effect on the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized for the asset in prior years. Such reversals of impairment losses are recognized in the consolidated statements of income. An impairment loss recognized in relation to goodwill is not reversed for subsequent increases in the recoverable amount.</span></span></p> </div> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(j)<span style="display:inline-block;width:12.5pt"> </span>Pension and other employee benefits:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay has non-contributory and contributory defined benefit programs for certain of its Canadian employees. The defined benefit pension benefits are based on years of service and final average salary for the salaried plans and are based on a flat dollar amount combined with years of service for the hourly plans. The Company provides non pension health and other post-employment benefits to certain active employees and pensioners (post-employment benefits) and also provides disability income, health benefits and other post-employment benefits to hourly and salaried disabled employees (other long-term employee benefits).</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay accrues its obligations under the defined benefit plans as the employees render the services necessary to earn the pension and post-employment benefits. The actuarial determination of the accrued benefit obligations for pensions and post-employment benefits uses the projected benefit method pro-rated on service (which incorporates management's best estimate of future salary levels, other cost escalation, retirement ages of employees and other actuarial factors). For other long-term employee benefits, the Company recognizes the full cost of the benefit obligation at the time the employee becomes disabled. Actuarial advice is provided by external consultants.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">For the funded defined benefit plans, Hudbay recognizes the deficit or excess of the fair value of plan assets over the present value of the defined benefit obligation as a liability or an asset in the consolidated balance sheets. However, the Company recognizes an excess of assets only to the extent that it represents a future economic benefit which is available in the form of refunds from the plan or reductions in future contributions to the plan. When these criteria are not met, it is not recognized but is disclosed in the notes to the consolidated financial statements. Impacts of minimum funding requirements in relation to past service are considered when determining the balance sheet position.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Defined benefit costs are categorized as follows:</span></span></p> <p style="margin-left:79pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>Service costs (including current service cost, past service cost, as well as gains and losses on curtailments and settlements and administration costs);</span></span></p> <p style="margin-top:0pt;margin-left:79pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>Net interest expense or income; and,</span></span></p> <p style="margin-top:0pt;margin-left:79pt;text-indent:-18pt;text-align:justify;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:15.0pt"> </span>Remeasurement.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The first two components of defined benefit costs shown above are recognized in the consolidated statements of income. Past service cost as well as curtailment gains are recognized in the consolidated statements of income in the period of a plan amendment. Net interest is calculated by applying the discount rate at the beginning of the period to the net defined benefit liability or asset.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Purchases and sales of plan assets are recorded on settlement date.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Remeasurement, comprising actuarial gains and losses, the effect of changes to the asset ceiling (if applicable) and the return on plan assets (excluding interest), is reflected immediately in the consolidated balance sheets with a gain or loss recognized in OCI in the period in which they occur. Remeasurement recognized in OCI is reflected in the remeasurement reserve and will not be reclassified to the consolidated statements of income. For the other long-term employee benefits plan, remeasurements are recognized immediately in the consolidated statements of income.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Actuarial determinations used in estimating obligations relating to these plans incorporate assumptions using management's best estimates of factors including plan performance, salary escalation, retirement dates of employees and healthcare cost escalation rates. Due to the complexity of the valuation, the underlying assumptions and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date. In determining the appropriate discount rate, management considers the interest rates on corporate bonds in the respective currency with at least an AA rating, with extrapolated maturities corresponding to the expected duration of the defined benefit obligation. The mortality rate is based on publicly available mortality tables for the specific country. Future salary increases and pension increases are based on expected future inflation rates for the respective country.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay also has defined contribution plans providing pension benefits for certain of its salaried employees and certain of its US employees utilizing 401K plans. The Company recognizes the cost of the defined contribution plans based on the contributions required to be made during each period.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Termination benefits are recognized as an expense when Hudbay is committed demonstrably, without realistic possibility of withdrawal, to a formal detailed plan to either terminate employment before the normal retirement date, or to provide termination benefits as a result of an offer made to encourage voluntary redundancy. Termination benefits for voluntary redundancies are recognized as an expense if the Company has made an offer of voluntary redundancy, it is probable that the offer will be accepted, and the number of acceptances can be estimated reliably. Benefits that are payable more than one year after the reporting period are discounted to their present value.</span></span></p> </div> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(k)<span style="display:inline-block;width:10pt"> </span>Environmental and other provisions:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Provisions are recognized when Hudbay has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and a reliable estimate can be made. The provisions are recorded as management's best estimate of the amount required to settle an obligation.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Provisions are stated at their present value, which is determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Decommissioning, restoration and similar liabilities </span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Provisions are recorded for legal and constructive obligations associated with the future costs of rehabilitating the Company's current and previous operating and development sites. Such costs are associated with decommissioning and restoration activities such as dismantling and removing structures, rehabilitating mines and tailings, and reclamation and re-vegetation of affected areas.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The present value of estimated costs is recorded in the period in which the asset is installed or the environment is disturbed and a reasonable estimate of future costs and discount rates can be made. The provision is discounted using a risk-free rate, and estimates of future cash flows are adjusted to reflect risk.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Subsequent to the initial measurement, the obligation is adjusted to reflect the passage of time and changes in the estimated future cash flows underlying the obligation. The increase in the provision due to the passage of time is recognized as finance expense, whereas increases and decreases due to changes in the estimated future cash flows, which are not the result of current inventory production, are capitalized and depreciated over the life of the related operating asset. Actual costs incurred upon settlement of the site restoration obligation are charged against the provision to the extent the provision was established for those costs. Upon settlement of the liability, a gain or loss may be recorded. For closed sites, changes to estimated costs are recognized immediately in the consolidated statements of income within other expenses.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay assesses the reasonableness of its estimates and assumptions each year and when conditions change, the estimates are revised accordingly. Judgement is required to determine the scope and timing of future decommissioning and restoration activities, as well as best available estimates and assumptions including discount rates, expected timing of decommissioning and restoration costs, inflationary factors and market risks. Changes in cost estimates, which may arise from changes in technology and pricing of the individual components of the cost may result in offsetting changes to the asset and liability and corresponding changes to the associated depreciation and finance costs. In view of the uncertainties concerning these future obligations, the ultimate timing and cost of reclamation and mine closure may differ materially from these estimates.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">If the change in estimate results in a significant increase in the decommissioning liability and therefore an addition to the carrying value of the asset, the Company considers whether this is an indication of impairment of the asset as a whole and, if so, tests for impairment in accordance with IAS 36,<i> Impairment of non-financial assets</i>. If, for mature mines, the revised mine assets net of decommissioning and restoration liabilities exceeds the recoverable value, that portion of the increase is charged directly to expense as an impairment loss, within the gross profit / (loss) line.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">In view of the uncertainties concerning environmental remediation, the ultimate cost of decommissioning and restoration liabilities could differ materially from the estimated amounts provided. The estimate of the total liability is subject to change based on amendments to laws and regulations and as new information concerning Hudbay's operations becomes available. Future changes, if any, to the estimated total liability as a result of amended requirements, laws, regulations and operating assumptions, as well as discount rates, may be significant and would be recognized prospectively as a change in accounting estimate, when applicable. Environmental laws, regulations and technology are continually evolving in all regions in which the Company operates. Hudbay is not able to determine the impact, if any, of environmental laws, regulations and technology that may be enacted in the future on its results of operations or financial position due to the uncertainty surrounding the ultimate form that such future laws and regulations may take.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="text-decoration:underline;margin-top:0pt;margin-bottom:0pt">Onerous contracts</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">A contract is considered to be onerous when the unavoidable costs of meeting obligations under the contract exceed the economic benefits expected to be received under it. Hudbay records a provision for any onerous contracts at the lesser of costs to comply with a contract and costs to terminate it.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Restructuring provisions </span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">A provision for restructuring is recognized when management, with appropriate authority within Hudbay, has approved a detailed and formal restructuring plan, and the restructuring has either commenced or has been announced publicly. Future operating costs are not provided for.</span></span></p> </div> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(l)<span style="display:inline-block;width:13pt"> </span>Financial instruments:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-derivative financial instruments are initially recognized at fair value plus, in the case of a financial asset or financial liability not measured at fair value through profit or loss, directly attributable transaction costs. Measurement in subsequent periods depends on the financial instrument's classification. Hudbay uses trade date accounting for regular way purchases or sales of financial assets. The Company determines the classification of its financial instruments and non-financial derivatives at initial recognition.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial assets and liabilities are offset and the net amount presented in the consolidated balance sheets when, and only when, Hudbay has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The classification of financial assets is based on the results of the contractual characteristics test and the business model assessment which will result in the financial asset being classified as either: amortized cost, fair value through profit or loss ("FVTPL") or fair value through other comprehensive income ("FVTOCI").</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">i.<span style="width:13.5pt;text-indent:0pt;display:inline-block"> </span>Non-derivative financial instruments - classification:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Financial assets at fair value through profit or loss</span></span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Provisionally priced copper and zinc concentrate sales receivables, warrants and investments in securities of junior mining companies are classified as financial assets at fair value through profit or loss and are measured at fair value. The gains or losses related to changes in fair value are reported in the consolidated statements of income.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Amortized cos</span>t</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash, certain receivables, other assets related to agreements with communities near the Peru operations, trade and other payables, long-term debt, deferred consideration, contingent consideration and restricted cash are classified as and measured at amortized cost and are carried at amortized cost using the effective interest rate method, less impairment losses, if any.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Non-derivative financial liabilities</span></span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accounts payable and senior unsecured notes are initially recognized at fair value and subsequently accounted for at amortized cost, using the effective interest method. The amortization of senior unsecured notes issue costs is calculated using the effective interest rate method.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">ii.<span style="width:10pt;text-indent:0pt;display:inline-block"> </span>Derivatives:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Derivatives are initially recognized at fair value when Hudbay becomes a party to the derivative contract and are subsequently re-measured to fair value at the end of each reporting period. The resulting gain or loss is recognized in the consolidated statements of income immediately unless the derivative is designated and effective as a hedging instrument. Derivatives with positive fair value are recognized as assets; derivatives with negative fair value are recognized as liabilities.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Derivatives contracts that are entered to economically hedge a risk exposure but are not designated as a hedging instrument for hedge accounting purposes, and are physically settled, are initially and subsequently measured at fair value. Subsequent movements in fair value are recognized within the revenue line item in the consolidated statements of income.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:63pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Hudbay enters into derivatives contracts to hedge commodity price risk exposure associated with quotational pricing terms in our sales contract as well as for non-quotational pricing ("non-QP"), which are not designated as hedging instrument for hedge accounting purposes. These non-quotational pricing derivative contracts are not physically settled and are referred to as non-QP hedges. These are initially and subsequently measured at fair value. Subsequent movements in fair value of these non-QP hedges are recognized in change in fair value of financial instruments on the consolidated statement of income.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">iii.<span style="width:7.5pt;text-indent:0pt;display:inline-block"> </span>Embedded derivatives:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay considers whether a contract contains an embedded derivative when it becomes a party to the contract. Derivatives embedded in other financial liabilities or other non-financial host contracts are treated as separate derivatives when their risks and characteristics are not closely related to those of the host contracts and the host contracts are not measured at FVTPL.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">iv.<span style="width:8.5pt;text-indent:0pt;display:inline-block"> </span>Fair value of financial instruments:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The fair value of a financial instrument is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm's length transaction.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Fair values of financial instruments traded in active markets are determined based on quoted market prices, where available. Bid prices are generally used for assets held or liabilities to be issued; asking prices are generally used for assets to be acquired or liabilities held.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">For financial instruments not traded in an active market, fair values are determined based on appropriate valuation techniques. Such techniques may include discounted cash flow analysis, using recent arm's length market transactions, reference to the current fair value of another instrument that is substantially the same, and other valuation models.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company applies a hierarchy to classify valuation methods used to measure financial instruments carried at fair value. Levels 1 to 3 are defined based on the degree to which fair value inputs are observable and have a significant effect on the recorded fair value, as follows:</span></span></p> <p style="margin-left:78pt;margin-bottom:0pt;text-indent:-13.5pt;text-align:justify;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span>Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities;</span></span></p> <p style="margin-top:0pt;margin-left:78pt;margin-bottom:0pt;text-indent:-13.5pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span>Level 2: Valuation techniques use significant observable inputs, either directly (i.e. as prices) or indirectly (i.e. derived from prices), or valuations are based on quoted prices for similar instruments; and,</span></span></p> <p style="margin-top:0pt;margin-left:78pt;text-indent:-13.5pt;text-align:justify;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span>Level 3: Valuation techniques use significant inputs that are not based on observable market data (unobservable inputs).</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">An analysis of fair values of financial instruments is provided in note 29.</span></span></p> <p style="text-align:justify;margin-left:63pt;text-indent:-18pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">v.<span style="width:11pt;text-indent:0pt;display:inline-block"> </span>Impairment of financial instruments:</span></span></p> <p style="text-align:justify;margin-left:63pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay recognizes loss allowances for Expected Credit Losses ("ECL") for trade receivables not measured at FVTPL.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Loss allowances for trade receivables are measured at an amount equal to lifetime ECL. ECL is a probability-weighted estimate measured at the present value of all cash shortfalls including the impact of forward-looking information.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay has established a provision based on the Company's historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.</span></span></p> <p style="margin-left:63pt;text-indent:-18pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">vi.<span style="width:7.5pt;text-indent:0pt;display:inline-block"> </span>Derecognition of financial instruments:</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay derecognizes financial assets when the contractual rights to the cash flows from the assets expire, or when the Company transfers the rights to receive the contractual cash flows on the financial assets in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Any interest in the transferred financial assets that is created or retained by Hudbay is recognized as a separate asset or liability.</span></span></p> <p style="margin-left:63pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay derecognizes financial liabilities when its contractual obligations are discharged, cancelled or expire or when its terms are modified and the cash flows of the modified liability are substantially different.</span></span></p> </div> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(m)<span style="display:inline-block;width:8.5pt"> </span>Taxation:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Current Tax</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the balance sheet date.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay is subject to income taxes in numerous jurisdictions. Significant judgement is required in determining the worldwide provision for income taxes due to the complexity of legislation. There are many transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. The Company recognizes liabilities for anticipated tax issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will affect the income tax and deferred tax provisions in the period in which such determination is made.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Additionally, future changes in tax laws in the jurisdictions in which Hudbay operates could limit the ability of the Company to obtain tax deductions in future periods.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Deferred Tax</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax is recognized using the balance sheet method in respect of temporary differences at the balance sheet date between the tax basis of assets and liabilities, and their carrying amounts for financial reporting purposes.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred income tax liabilities are recognized for all taxable temporary differences, except:</span></span></p> <p style="margin-left:66pt;text-indent:-13.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span>where the deferred income tax liability arises from the initial recognition of goodwill, or the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and</span></span></p> <p style="margin-left:66pt;text-indent:-13.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span>in respect of taxable temporary differences associated with investments in subsidiaries, associates and interest in joint ventures, where the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred income tax assets are recognized for all deductible temporary differences, carry-forward of unused tax assets and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry-forward of unused tax assets and unused tax losses can be utilized, except:</span></span></p> <p style="margin-left:66pt;text-indent:-13.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span>where the deferred income tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and</span></span></p> <p style="margin-left:66pt;text-indent:-13.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:10.0pt"> </span>in respect of deductible temporary differences associated with investments in subsidiaries, associates and interest in joint ventures, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">To the extent that it is probable that taxable profit will be available to offset the deductible temporary differences, Hudbay recognizes the deferred tax asset regarding the temporary difference on decommissioning, restoration and similar liabilities and recognizes the corresponding deferred tax liability regarding the temporary difference on the related assets.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The carrying amount of deferred income tax assets is reviewed at each balance sheet date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized. Unrecognized deferred income tax assets are reassessed at each balance sheet date and are recognized to the extent that it has become probable that future taxable profit will be available to allow the deferred tax asset to be recovered. </span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Judgement is required in determining whether deferred tax assets are recognized on the consolidated balance sheets. Deferred tax assets, including those arising from unutilized tax losses, require management to assess the likelihood of taxable profit in future periods in order to utilize recognized deferred tax assets. Estimates of future taxable income are based on forecast cash flows from operations and the application of existing tax laws in each jurisdiction. To the extent that future cash flows and taxable income differ significantly from estimates, the ability to realize the net deferred tax assets recorded at the balance sheet date could be affected.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the asset is realized or the liability is settled, based on tax rates and tax laws enacted or substantively enacted at the balance sheet date.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred income tax assets and deferred income tax liabilities are offset if a legally enforceable right exists to offset current tax assets against current tax liabilities and the deferred income taxes relate to the same taxable entity and the same taxation authority.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Current and deferred taxes relating to items recognized outside profit or loss (whether in other comprehensive income or directly in equity) are recognized outside profit or loss and not in the consolidated statements of income. Mining taxes and royalties are treated and disclosed as current and deferred taxes if they have the characteristics of an income tax.</span></span></p> </div> <div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(n)<span style="display:inline-block;width:10pt"> </span>Share capital and reserves: </strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Transaction costs</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Transaction costs directly attributable to equity transactions are recognized as a deduction from equity.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Other capital reserve</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The other capital reserve is used for equity-settled share-based compensation and includes amounts for stocks options granted and not exercised.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Foreign currency translation reserve</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The foreign currency translation reserve is used to record exchange differences arising from the translation of the financial statements of foreign operations. Exchange differences arising from the translation of the financial statements of foreign operations form part of the net investment in the foreign operation. Translation gains and losses remain in the reserve until disposal of all or a portion of the foreign operation.</span></span></p> </div> <div> <p style="text-align:justify;margin-left:22pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(o)<span style="display:inline-block;width:11.5pt"> </span>Flow-through shares </strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Resource expenditure deductions for income tax purposes related to exploration activities funded by flow-through share arrangements are renounced to investors under Canadian income tax legislation. On issuance, the Corporation separates the flow-through share into i) a flow-through share premium, equal to the difference between the current market price of the Corporation's common shares and the issue price of the flow-through share and ii) share capital. Upon qualifying exploration and/or development expenditures being incurred, the sale of tax deductions is recognized as other income in the statement of income and the related liability is reduced. The Company may also be subject to a Part XII.6 tax on flow-through proceeds renounced, in accordance with the Canadian Income Tax Act flow-through regulations. When applicable, the estimated tax payable is accrued until paid.</span></span></p> </div> <div> <p style="text-align:justify;margin-left:22pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(p)<span style="display:inline-block;width:10pt"> </span>Share-based compensation:</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay compensates its employees in part through the use of a Deferred Share Unit ("DSU") plan for non-employee members of the Board of Directors, a Restricted Share Unit ("RSU") plan for employees, a Performance Share Unit ("PSU") plan for employees and a stock option plan for employees. These plans are included in provisions on the consolidated balance sheets and further described in note 26. Changes in the fair value of the liabilities are recorded in the consolidated statements of income.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash-settled transactions, consisting of DSUs, RSUs and PSUs, are initially measured at fair value and recognized as an obligation at the grant date. The liabilities are remeasured to fair value at each reporting date up to and including the settlement date, with changes in fair value recognized in the consolidated statements of income. Hudbay values the liabilities based on the change in the Company's share price. Additional DSUs, RSUs and PSUs are credited to reflect dividends paid on Hudbay common shares over the vesting period. The current portion of the liability reflects those grants that have vested or that are expected to vest within twelve months.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">DSUs vest on the grant date and are redeemable when a participant is no longer a member of the Board of Directors. Issue and redemption prices of DSUs are based on the average closing price of the Company's common shares for the five trading days prior to issuance or redemption.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">RSUs and PSUs are issued under Hudbay's Long Term Equity Plan ("LTEP Plan") and vest on or before the third anniversary of the grant. RSUs and PSUs granted under the LTEP Plan may be settled in the form of the Company's common shares or, at the option of Hudbay, the cash equivalent based on the market price of the common shares as of the vesting date. Hudbay has historically settled RSUs in cash. Except in specified circumstances, RSUs and PSUs terminate when an employee ceases to be employed by the Company. Valuations of RSUs and PSUs reflect estimated forfeitures.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Equity-settled transactions with employees relate to stock options and are measured by reference to the fair value at the earlier of the grant date and the date that the employee unconditionally became entitled to the award. Fair value is determined using a Black-Scholes option pricing model, which relies on estimates of the future risk-free interest rate, future dividend payments, future share price volatility and the expected average life of the options. Hudbay believes this model adequately captures the substantive features of the option awards and is appropriate to calculate their fair values. The fair value determined at the grant date is recognized over the vesting period in accordance with vesting terms and conditions, with a corresponding increase to other capital reserves. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market vesting conditions are expected to be met.</span></span></p> </div> <div> <p style="text-align:justify;margin-left:22pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(q)<span style="display:inline-block;width:10pt"> </span>Earnings per share:</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company presents basic and diluted earnings (loss) per share ("EPS") data for its common shares. Basic EPS is calculated by dividing the profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all dilutive potential common shares, which previously consisted of stock options granted to employees and warrants.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">When calculating earnings per share for periods where the Company has a loss, Hudbay's calculation of diluted earnings per share excludes any incremental shares from the assumed conversion of stock options as they would be anti-dilutive.</span></span></p> </div> <div> <p style="text-align:justify;margin-left:22pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(r)<span style="display:inline-block;width:11.5pt"> </span>Leases:</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Leases, under which substantially all the risks and rewards incidental to ownership of the leased item are transferred to Hudbay, are capitalized as assets at the inception of the lease at the lower of fair value or the present value of the minimum lease payments. Lease payments are apportioned between finance charges and the reduction of the liability so as to achieve a constant periodic rate of interest on the remaining balance of the liability. Finance charges are reflected in the consolidated statements of income as finance costs.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-ROU lease payments are recognized as an expense in the consolidated statements of income on a straight-line basis over the lease term.</span></span></p> </div> <div> <p style="margin-left:27pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(s)<span style="display:inline-block;width:7.5pt"> </span>Segment reporting:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">An operating segment is a component of the Company that engages in business activities from which it may earn revenue and incur expenses and for which discrete financial information is available. Hudbay's chief executive officer regularly reviews the operating results of each operating segment to make decisions about resources to be allocated to the segment and assess its performance. In determining operating segments, Hudbay considers location and decision-making authorities. Refer to note 34.</span></span></p> </div> <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span style="color:#d22630"><strong>4.</strong></span><span style="width:14.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>New standards </strong></span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span style="text-decoration:underline">New standards issued but not yet effective</span></span></span></span></p> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><strong>(a)<span style="display:inline-block;width:10.5pt"> </span>IFRS 18 - Presentation and Disclosure in Financial Statements</strong></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>In April 2024, the IASB released IFRS 18 Presentation and Disclosure in Financial Statements. IFRS 18 will replace IAS 1 Presentation of Financial Statements. The standard amends the presentation of the statement of income by introducing a newly defined 'operating profit' subtotal and a requirement for income and expenses to be allocated between three new distinct categories based on a company's main business activities, which are Operating, Financing and Investing. In addition, organizations will need to disclose certain 'non-GAAP' measures known as management-defined performance measures. The standard will be effective from January 1, 2027 with early adoption permitted and requires retrospective application. The Company is assessing the impact of adoption of this amendment on its consolidated financial statements.</span></span></span></p> <div> <div></div> </div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><strong>(b)<span style="display:inline-block;width:10pt"> </span>Amendments to IFRS 9 - Financial Instruments and IFRS 7 - Financial Instruments: Disclosures</strong></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>In May 2024, the IASB issued amendments to IFRS 9 and 7 to clarify the recognition or derecognition of a financial asset or liability, with a new exception for some financial liabilities settled through an electronic cash transfer system. The amendments also add guidance for assessing whether a financial asset meets the solely payments of principal and interest (SPPI) criterion, by introducing an additional SPPI test for financial assets with contingent features that are not related directly to a change in basic lending risks or costs. In addition, the amendments will add new disclosures for certain instruments with contractual terms that can change cash flows. Lastly, the amendments will require additional disclosures for equity instruments designated at fair value through other comprehensive income. The amendments will apply for reporting periods beginning on or after January 1, 2026, with early application permitted. The Company has assessed the impact of these amendments to be immaterial to the consolidated financial statements.</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>In December 2024, the IASB issued amendments to IFRS 9 and 7 to clarify the application of the 'own-use' exemption and provide guidance on hedge accounting for companies that hedge their purchase or sales of electricity using renewable power purchase agreements. The amendments also introduce new disclosure requirements. The amendments will apply for reporting periods beginning on or after January 1, 2026, with early application permitted. Hudbay has concluded that the impact of these amendments will not result in material changes to the consolidated financial statements.</span></span></span></p> </div> <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#d22630"><strong>5.</strong></span><span style="width:14.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Copper Mountain non-controlling interest acquisition</strong></span></span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">On April 30, 2025, Hudbay completed the acquisition of Mitsubishi Materials Corporation's ("MMC") 25% interest in CMBC (the "Transaction"). The cash consideration of the Transaction consisted of:</span></span></p> <p style="text-align:justify;margin-left:58.5pt;text-indent:-18pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:15pt"> </span>$4.5 million on closing date of the Transaction,</span></span></p> <p style="text-align:justify;margin-left:58.5pt;text-indent:-18pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:15pt"> </span>$21.0 million in seven annual deferred payments of $3.0 million each, commencing on the 12-month anniversary of the closing date of the Transaction, and</span></span></p> <p style="text-align:justify;margin-left:58.5pt;text-indent:-18pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">•<span style="display:inline-block;width:15pt"> </span>up to $18.75 million in five additional contingent payments of $3.75 million each, payable in the years following New Ingerbelle achieving certain minimum annual operating thresholds. MMC's right to the contingent payments concludes on the 15-year anniversary of the closing date of the Transaction.</span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As a result of the Transaction, Hudbay increased its ownership of the Copper Mountain mine from 75% to 100%.</span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The company recorded $35.9 million of total consideration for the Transaction which included the cash payment of $4.5 million on the closing date, $16.6 million of deferred payments and $13.3 million of contingent consideration recorded as financial liability at amortized cost (note 17) and $1.5 million of transaction costs recorded within equity. </span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As a result of the Transaction, the Company recorded an increase to equity as follows:</span></span></p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Carrying value of non-controlling interest as at April 30, 2025</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>93.2</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Transfer of net gain on translation of foreign currency balances</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>4.0</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Less: total consideration</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(35.9</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Surplus - recorded in equity</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>61.3</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> <p style="text-align:justify;margin-left:22pt;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">There were no substantive changes to the Company's ownership in CMBC during the year ended December 31, 2024.</span></span></p> </div> 0.25 4500000 21000000 3000000 18750000 3750000 0.75 1 35900000 4500000 16600000 13300000 1500000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Carrying value of non-controlling interest as at April 30, 2025</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>93.2</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Transfer of net gain on translation of foreign currency balances</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>4.0</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Less: total consideration</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(35.9</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Surplus - recorded in equity</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>61.3</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> 93200000 4000000 35900000 61300000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#d22630"><strong>6.</strong></span><span style="width:14.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Revenue and expenses</strong></span></span></span></span></span></p> <div> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>(a)</strong><span style="width:11.5pt;text-indent:0pt;display:inline-block"> </span><strong>Revenue</strong></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Hudbay's revenue by significant product types:</span></span></span></span></p> <div style="margin-left:45pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap;background-color:#5b6770"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-bottom:1.5pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-bottom:1.5pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended </span><br/><span style="color:#ffffff">December 31,</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-bottom:1.5pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Copper</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>1,161.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1,154.8</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Gold</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>794.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>673.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Zinc</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>43.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>71.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Silver</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>53.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>51.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Molybdenum</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>63.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>60.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Other</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.7</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Revenue from contracts</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2,116.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2,012.8</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Non-cash streaming arrangement items: ¹</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26pt;vertical-align:bottom;text-indent:-20pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Amortization of deferred revenue - gold</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>31.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>40.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26pt;vertical-align:bottom;text-indent:-20pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Amortization of deferred revenue - silver</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>33.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>33.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-indent:-20pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Amortization of deferred revenue - variable consideration adjustments - prior periods</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>9.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(3.8</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>75.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>70.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pricing and volume adjustments ²</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>47.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>35.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2,239.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2,118.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Treatment and refining charges</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(28.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(97.3</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2,211.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2,021.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="7" style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>¹See note 20.</span></span></span></span></td> </tr> <tr> <td colspan="7" style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>²Pricing and volume adjustments represent mark-to-market adjustments on initial estimate of provisionally priced sales, realized and unrealized changes to fair value of quotational pricing hedge derivative contracts and adjustments to originally invoiced weights and assays.</span></span></span></span></td> </tr> </table> </div> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Consideration from the Company's stream agreements is considered variable (note 20). Gold and silver stream revenue can be subject to cumulative adjustments when the amount of precious metals to be delivered under the contract changes. As a result of changes in the Company's mineral reserve and resource estimate in the first quarter of 2025, the amortization rate by which deferred revenue is drawn down into income was adjusted and, as required, a variable consideration adjustment was made for all prior year stream revenues since the stream agreement inception date. This variable consideration adjustment for the year ended December 31, 2025 resulted in an increase in revenue of <span style="background-color:#ffffff">$</span>9.9<span style="background-color:#ffffff"> million </span>(year ended December 31, 2024 - decrease in revenue of $3.8 million).</span></span></span></span></p> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>(b)</strong><span style="width:11.01pt;text-indent:0pt;display:inline-block"> </span><strong>Depreciation and amortization</strong></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Depreciation of property, plant and equipment and amortization of intangible assets are reflected in the consolidated statements of income as follows:</span></span></span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;text-align:center;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;text-align:center;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended </span><br/><span style="color:#ffffff">December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;text-align:center;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Cost of sales</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>439.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>426.6</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Selling and administrative expenses</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>1.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.4</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>441.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>428.0</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> <p style="margin:0pt"> </p> </div> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span id="page_33"></span></span></span></p> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">(c)<span style="display:inline-block;width:12pt;margin-top:0pt;margin-bottom:0pt"> </span>Share-based compensation expense</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Share-based compensation expenses are reflected in the consolidated statements of income as follows:</span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td rowspan="2" style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;width:29.927%"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;width:0.973236%"> </td> <td colspan="7" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;width:38.6861%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Cash-settled</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;width:1.94647%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #a2aaad;width:0.973236%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #a2aaad;width:10.9489%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #a2aaad;width:1.94647%"> </td> <td rowspan="2" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:0.973236%"> </td> <td rowspan="2" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;border-bottom:0.75pt solid rgb(162, 170, 173);width:10.9489%;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Total share-</span></span></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">based</span></span></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">compensation</span></span></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">expense</span></span></span></span></span></span></span></span></p> </td> <td rowspan="2" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;width:1.94647%"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#566770;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:0.973236%"> </td> <td style="vertical-align:bottom;background-color:#566770;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">RSUs</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:1.94647%"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:0.973236%"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">DSUs</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:1.94647%"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:0.973236%"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">PSUs</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:1.94647%"> </td> <td style="vertical-align:bottom;background-color:#566770;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:0.973236%"> </td> <td style="vertical-align:bottom;background-color:#566770;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Stock options</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:1.94647%"> </td> </tr> <tr> <td colspan="3" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:41.8491%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Year ended December 31, 2025</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;width:29.927%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of sales</span></span></td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;width:29.927%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Selling and administrative</span></span></td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">53.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;width:29.927%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other expenses</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.5</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.5</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:29.927%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:0.973236%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">61.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1.94647%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left;width:29.927%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Year ended December 31, 2024</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left;width:0.973236%;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left;width:10.9489%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;width:29.927%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of sales</span></span></td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;width:29.927%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Selling and administrative</span></span></td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;width:29.927%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other expenses</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.7</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.7</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:29.927%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:0.973236%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">19.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1.94647%"> </td> </tr> </table> </div> <p style="text-align:justify;margin-left:45pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During the year ended December 31, 2025, the Company granted 828,720 stock options (year ended December 31, 2024 - 902,874). For further details on stock options, see note 26b.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The increase in share-based compensation expense during the year ended December 31, 2025 compared with the same periods last year primarily relates to the change in the Company's share price, in addition to anticipated adjustments to the performance based multiplier on performance share units.</span></span></p> <div> <div></div><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span id="page_34"></span></span></span> </div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(d)<span style="display:inline-block;width:10pt"> </span>Employee benefits expense </strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">This table presents employee benefit expense recognized in the consolidated statements of income, including amounts transferred from inventory upon sale of goods:</span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;background-color:#566770;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-bottom:1.5pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-bottom:1.5pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended December 31, </span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-bottom:1.5pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Current employee benefits</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">239.4</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">239.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Profit-sharing plan expense</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">82.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">51.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Share-based compensation (notes 6c, 22, 26)</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Equity settled stock options</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash-settled restricted share units</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash-settled deferred share units</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash-settled performance share units</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Employee share purchase plan</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Post-employee pension benefits</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Defined benefit plans</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Defined contribution plans</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Past service cost (note 22, 23)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other post-retirement employee benefits</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Termination benefits</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.7</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.7</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">398.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">331.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Manitoba has a profit sharing plan required by the collective bargaining agreement whereby 10% of Manitoba's after tax profit (excluding provisions or recoveries for deferred income tax and deferred mining tax) for any given fiscal year will be distributed to all eligible employees in the Flin Flon/Snow Lake operations, with the exception of executive officers and key management personnel.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Peru has a profit sharing plan required by Peruvian law whereby 8% of Peru's taxable income will be distributed to all employees within Peru's operations.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company has an employee share purchase plan for executives and other eligible employees where participants may contribute between 1% and 10% of their pre-tax base salary to acquire Hudbay shares. The Company makes a matching contribution of 75% of the participant's contribution.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">In addition, the Company recognized a past service cost provision adjustment related to pensions and post-employment plans for certain Manitoba employees of $<span style="-sec-ix-hidden:Fxbrl_20260224141859113">nil</span> during the year ended December 31, 2025 (year ended December 31, 2024 - $4.3 million).</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">See note 22 for a description of Hudbay's pension plans and note 23 for Hudbay's other employee benefit plans.</span></span></p> <div> <div></div><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span id="page_35"></span></span></span> </div> <p style="text-align:justify;margin-left:22pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(e)<span style="display:inline-block;width:11.5pt"> </span>Other operating expenses</strong></span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Year ended</span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">December 31,</span></span></span></span></span></span></p> </td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">2024</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Regional costs</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Write-down/loss on disposal of PP&amp;E</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">27.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Amortization of community costs (other assets)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Restructuring</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Wildfire evacuation costs</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Care &amp; maintenance - Manitoba</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Evaluation costs</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Insurance recovery</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(25.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Reduction of obligation to renounce flow-through share expenditures, net of provisions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(5.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Option agreement proceeds (Marubeni)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.3</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.5</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">57.4</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During the year ended December 31, 2025, the Manitoba business unit incurred costs related to emergency and evacuation activities of $4.4 million as a result of regional wildfires in Snow Lake, Flin Flon and surrounding areas. </span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During the year ended December 31, 2025, a recovery of $25.0 million was recorded to reflect the business interruption insurance proceeds related to the wildfire evacuation and temporary suspension of operations at Manitoba. As of December 31, 2025, all of the proceeds related to this gain have been received.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Flin Flon concentrator and tailings impoundment is on care and maintenance to provide optionality should another mineral discovery occur in the Flin Flon area. During the year ended December 31, 2025, care &amp; maintenance costs were $13.2 million (year ended December 31, 2024 - $14.6 million).</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Arizona business unit held an option to acquire water rights and land, which expired during the first quarter of 2024 without being extended or exercised. The previously capitalized cost to maintain the option, net of accrued interest, of $8.1 million is presented as part of write-down of PP&amp;E in 2024.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During the year ended December 31, 2024, the British Columbia business unit has recognized an impairment loss on a ball mill that is no longer being used in its operation. As a result, the carrying value of the asset has been written down to its recoverable amount, and $7.2 million is presented as part of write-down of PP&amp;E. Furthermore, the British Columbia business unit recognized a loss of $7.8 million resulting from the replacement of components of mobile equipment and disposal of other mill equipment during the year ended December 31, 2024.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span id="page_36"></span></span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"> <p style="text-align:justify;margin-top:0pt;margin-bottom:10pt;margin-left:25pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">(f)<span style="display:inline-block;width:7.5pt;margin-top:0pt;margin-bottom:0pt"> </span>Impairment reversal</strong></span></span></span></span></p> <div style="margin-left:45pt;margin-top:0pt;margin-bottom:0pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">As at December 31,<br/>2025</span></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Pre-tax impairment reversal to:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Property, plant &amp; equipment (note 14)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">(322.3</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Tax impact</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">79.6</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">After-tax impairment reversal</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">(242.7</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> </tr> </table> </div> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">On August 12, 2025, the Company entered into an agreement with Mitsubishi Corporation ("Mitsubishi"), pursuant to which Mitsubishi agreed to acquire a 30% interest in Copper World, a wholly-owned subsidiary of Hudbay which owns the fully-permitted Copper World Project in Arizona. Mitsubishi will contribute $420 million of proceeds on closing as well as an additional $180 million within 18 months of closing to complete its 30% minority investment (the "Copper World Transaction") and will also fund its pro-rata 30% share of future equity capital contributions. The Copper World Transaction closed in January 2026 (note 35). Based on the Copper World Transaction, a market participant would value the Arizona CGU at $2,000.0 million.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">The Copper World Transaction has been determined to be an indicator of impairment reversal for the Arizona cash generating unit ("CGU"). As a result, an assessment of the recoverable amount of the Arizona CGU was performed. The recoverable amount of the Arizona CGU exceeded the carrying amount of $784.4 million. </span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Based on this market evidence and updated assumptions, the Company recognized a $322.3 million pre-tax impairment reversal in the consolidated statements of income during the year ended December 31, 2025. The reversal is limited to the amount of the previous impairment and does not increase the carrying amount above the level that would have been determined had no impairment been recognized previously.</span></span></p> </div> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(g)<span style="display:inline-block;width:10.5pt"> </span>Consideration received from sale of non-core project</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As part of a contingent consideration deed dated December 12, 2022, Harmony Gold (Australia) PTY Limited agreed to pay the Company a contingent amount upon the discovery of a new resource beyond certain parameters at the Eva project, which was previously sold by Copper Mountain prior to Hudbay's acquisition of Copper Mountain in June 2023. During the year ended 2025, a new discovery was made at the Eva project. As a result, the Company recognized the contingent payment received of $14.9 million as other income on the consolidated statements of income.</span></span></p> <div> <div></div><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span id="page_37"></span></span></span> </div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(h)<span style="display:inline-block;width:10pt"> </span>Net finance expense</strong></span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended </span><br/><span style="color:#ffffff">December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">2024</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Net interest expense on long-term debt</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net interest expense on long-term debt</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">60.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">69.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Accretion on streaming arrangements (note 20)</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Additions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Variable consideration adjustments - prior periods</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.6</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">19.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Change in fair value of financial instruments</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Gold prepayment liability</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Unrealized loss on non-quotational pricing hedges</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>-</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>0.2</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Realized loss on non-quotational pricing hedges</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Investments at fair value through profit or loss (note 11)</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(55.2</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.2</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(52.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Other net finance (income) expense</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net foreign exchange (gain) loss</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(18.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">21.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accretion on community agreements measured at amortized cost</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accretion on environmental provisions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">11.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accretion on Wheaton refund liability</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accretion on deferred and contingent liability (note 17)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Withholding taxes</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Loss on disposal of investments</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Interest on equipment financing and leases</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Interest income</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(22.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(15.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other finance expense</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.1</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.0</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">38.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Net finance expense</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">19.4</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">148.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other finance expense relates primarily to standby fees on Hudbay's revolving credit facilities.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Commencing in the first quarter of 2024, Hudbay has entered into copper forward sales, copper costless collars and gold costless collars which are non-quotational pricing ("non-QP") contracts (note 29b). Subsequent movements in the fair value of non-QP contracts are recognized in change in fair value of financial instruments in the consolidated statements of income. As of December 31, 2025, there are no non-QP hedges outstanding.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During the third quarter of 2024, the Company completed the final delivery and settled the obligation for the gold prepayment liability.</span></span></p> </div> </div> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap;background-color:#5b6770"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-bottom:1.5pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-bottom:1.5pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended </span><br/><span style="color:#ffffff">December 31,</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-bottom:1.5pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Copper</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>1,161.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1,154.8</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Gold</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>794.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>673.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Zinc</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>43.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>71.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Silver</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>53.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>51.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Molybdenum</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>63.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>60.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Other</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.7</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Revenue from contracts</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2,116.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2,012.8</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Non-cash streaming arrangement items: ¹</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26pt;vertical-align:bottom;text-indent:-20pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Amortization of deferred revenue - gold</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>31.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>40.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26pt;vertical-align:bottom;text-indent:-20pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Amortization of deferred revenue - silver</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>33.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>33.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-indent:-20pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Amortization of deferred revenue - variable consideration adjustments - prior periods</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>9.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(3.8</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>75.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>70.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pricing and volume adjustments ²</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>47.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>35.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2,239.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2,118.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Treatment and refining charges</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(28.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(97.3</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2,211.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2,021.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 1161500000 1154800000 794400000 673600000 43500000 71100000 53600000 51500000 63900000 60100000 0 1700000 2116900000 2012800000 31300000 40700000 33800000 33600000 9900000 -3800000 75000000 70500000 47500000 35200000 2239400000 2118500000 28400000 97300000 2211000000 2021200000 9900000 -3800000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;text-align:center;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;text-align:center;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended </span><br/><span style="color:#ffffff">December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;text-align:center;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Cost of sales</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>439.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>426.6</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Selling and administrative expenses</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>1.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.4</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>441.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>428.0</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 439700000 426600000 1500000 1400000 441200000 428000000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td rowspan="2" style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;width:29.927%"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;width:0.973236%"> </td> <td colspan="7" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;width:38.6861%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Cash-settled</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;width:1.94647%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #a2aaad;width:0.973236%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #a2aaad;width:10.9489%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #a2aaad;width:1.94647%"> </td> <td rowspan="2" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:0.973236%"> </td> <td rowspan="2" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;border-bottom:0.75pt solid rgb(162, 170, 173);width:10.9489%;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Total share-</span></span></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">based</span></span></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">compensation</span></span></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">expense</span></span></span></span></span></span></span></span></p> </td> <td rowspan="2" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;width:1.94647%"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#566770;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:0.973236%"> </td> <td style="vertical-align:bottom;background-color:#566770;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">RSUs</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:1.94647%"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:0.973236%"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">DSUs</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:1.94647%"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:0.973236%"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">PSUs</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:0.75pt solid #a2aaad;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:1.94647%"> </td> <td style="vertical-align:bottom;background-color:#566770;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:0.973236%"> </td> <td style="vertical-align:bottom;background-color:#566770;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Stock options</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;text-align:center;white-space:nowrap;border-bottom:0.75pt solid #a2aaad;width:1.94647%"> </td> </tr> <tr> <td colspan="3" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:41.8491%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Year ended December 31, 2025</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;width:29.927%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of sales</span></span></td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;width:29.927%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Selling and administrative</span></span></td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">53.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;width:29.927%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other expenses</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.5</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.5</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:29.927%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:0.973236%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1.94647%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:0.973236%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:10.9489%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">61.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1.94647%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left;width:29.927%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Year ended December 31, 2024</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left;width:0.973236%;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left;width:10.9489%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0.973236%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10.9489%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.94647%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;width:29.927%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of sales</span></span></td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;width:29.927%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Selling and administrative</span></span></td> <td style="vertical-align:bottom;text-align:left;width:0.973236%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;text-align:left;width:0.973236%"> </td> <td style="vertical-align:bottom;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1.94647%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;width:29.927%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other expenses</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.7</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:0.973236%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.7</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1.94647%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:29.927%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:0.973236%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1.94647%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:0.973236%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:10.9489%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">19.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1.94647%"> </td> </tr> </table> 5900000 0 0 0 5900000 12900000 13900000 24600000 2500000 53900000 1500000 0 0 0 1500000 20300000 13900000 24600000 2500000 61300000 2000000 0 0 0 2000000 4000000 6300000 4200000 2100000 16600000 700000 0 0 0 700000 6700000 6300000 4200000 2100000 19300000 828720 902874 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;background-color:#566770;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-bottom:1.5pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-bottom:1.5pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended December 31, </span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-bottom:1.5pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Current employee benefits</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">239.4</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">239.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Profit-sharing plan expense</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">82.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">51.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Share-based compensation (notes 6c, 22, 26)</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Equity settled stock options</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash-settled restricted share units</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash-settled deferred share units</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash-settled performance share units</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Employee share purchase plan</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Post-employee pension benefits</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Defined benefit plans</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Defined contribution plans</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Past service cost (note 22, 23)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other post-retirement employee benefits</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Termination benefits</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.7</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.7</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">398.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">331.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 239400000 239200000 82100000 51100000 2500000 2100000 20300000 6700000 13900000 6300000 24600000 4200000 2100000 1800000 4700000 4400000 2500000 2100000 0 4300000 6000000 7500000 700000 1700000 398800000 331400000 0.10 0.10 0.08 0.08 0.01 0.01 0.10 0.10 0.75 0.75 4300000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Year ended</span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">December 31,</span></span></span></span></span></span></p> </td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">2024</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Regional costs</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Write-down/loss on disposal of PP&amp;E</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">27.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Amortization of community costs (other assets)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Restructuring</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Wildfire evacuation costs</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Care &amp; maintenance - Manitoba</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Evaluation costs</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Insurance recovery</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(25.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Reduction of obligation to renounce flow-through share expenditures, net of provisions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(5.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Option agreement proceeds (Marubeni)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.3</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.5</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">57.4</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 7700000 5400000 3500000 27400000 7100000 8500000 100000 1200000 4400000 0 13200000 14600000 3500000 1200000 -25000000 0 -5500000 -2000000 -4500000 -400000 3300000 1500000 7800000 57400000 4400000 25000000 13200000 14600000 8100000 7200000 7800000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">As at December 31,<br/>2025</span></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Pre-tax impairment reversal to:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Property, plant &amp; equipment (note 14)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">(322.3</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Tax impact</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">79.6</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">After-tax impairment reversal</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">(242.7</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> </tr> </table> 322300000 -79600000 242700000 0.30 420000000 180000000 0.30 0.30 2000000000 784400000 322300000 14900000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended </span><br/><span style="color:#ffffff">December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">2024</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Net interest expense on long-term debt</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net interest expense on long-term debt</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">60.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">69.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Accretion on streaming arrangements (note 20)</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Additions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Variable consideration adjustments - prior periods</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.6</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">19.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Change in fair value of financial instruments</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Gold prepayment liability</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Unrealized loss on non-quotational pricing hedges</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>-</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>0.2</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Realized loss on non-quotational pricing hedges</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Investments at fair value through profit or loss (note 11)</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(55.2</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.2</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(52.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Other net finance (income) expense</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net foreign exchange (gain) loss</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(18.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">21.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accretion on community agreements measured at amortized cost</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accretion on environmental provisions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">11.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accretion on Wheaton refund liability</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accretion on deferred and contingent liability (note 17)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Withholding taxes</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Loss on disposal of investments</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Interest on equipment financing and leases</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Interest income</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(22.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(15.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other finance expense</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.1</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.0</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">38.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Net finance expense</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">19.4</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">148.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 60700000 69800000 20500000 24000000 -600000 200000 19900000 24200000 0 10700000 0 200000 2300000 8900000 55200000 3200000 -52900000 16600000 18600000 -21000000 6400000 4700000 11100000 10500000 600000 600000 1400000 0 0 2200000 0 -100000 9000000 6700000 22300000 15700000 4100000 8000000 8300000 -38100000 -19400000 -148700000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span style="color:#d22630"><strong>7.</strong></span><span style="width:14.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Cash and cash equivalents</strong></span></span></span></span></p> <p style="margin-left:22pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Cash and cash equivalents balances represent demand deposits and deposits with an original maturity date of less than three months.</span></span></span></p> </div> <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#d22630"><strong>8.</strong></span><span style="width:14.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Short-term investments</strong></span></span></span></span></span></p> <p style="margin-left:22pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Short-term investments include guaranteed investment certificates held with Canadian financial institutions. The Company currently holds nil guaranteed investment certificates. As at December 31, 2024, the Company held two $20.0 million guaranteed investment certificates that matured in March 2025 and June 2025, respectively.</span></span></span></span></p> </div> 20000000 20000000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(210, 38, 48);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">9.</strong></span><span style="width:14.99pt;text-indent:0pt;display:inline-block;margin-top:0pt;margin-bottom:0pt"> </span><span style="color:rgb(210, 38, 48);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Trade and other receivables</strong></span></span></span></span></span></p> <p style="margin:0pt"> </p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-family:Times New Roman,Times,serif"><span style="font-size:10pt"><span><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Trade receivables</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>343.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>179.1</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Statutory receivables</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>30.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>50.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Other receivables</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>3.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.4</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>377.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>235.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> <p style="margin:0pt"> </p> <p style="text-align:justify;margin-left:22.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">The increase in trade receivables during the year ended December 31, 2025 primarily relates to one shipment, representing approximately 40,000 tonnes of copper, which occurred late in the fiscal year and received revenue recognition but for which timing of cash receipts occur in 2026, along with additional revenue as a result of higher metal prices.</span></span></span></span></p> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-family:Times New Roman,Times,serif"><span style="font-size:10pt"><span><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Trade receivables</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>343.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>179.1</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Statutory receivables</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>30.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>50.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Other receivables</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>3.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.4</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>377.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>235.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 343800000 179100000 30200000 50000000 3800000 6400000 377800000 235500000 40000 <div> <div> <p style="margin-left:22.5pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:rgb(210, 38, 48);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">10.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block;margin-top:0pt;margin-bottom:0pt"> </span><span style="color:rgb(210, 38, 48);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Inventories</strong></span></span></span></span></span></p> <p style="margin:0pt"> </p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Current</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Stockpile</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>17.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>26.9</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Finished goods</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>76.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>81.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Materials and supplies</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>105.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>88.9</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>199.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>197.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Non-current</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Stockpile</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>5.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.2</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Low grade stockpile¹</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>5.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Materials and supplies</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>10.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>8.9</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>21.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>16.6</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>220.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>214.0</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="7" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify;width:0px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>¹Primarily all of the low grade stockpile inventory is expected to be processed at the end of the Copper Mountain mine life.</span></span></span></span></td> </tr> </table> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The cost of inventories recognized as an expense, including depreciation and included in cost of sales, amounted to $1,243.4 million for the year ended December 31, 2025 (year ended December 31, 2024 - $1,288.4 million, respectively).</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>As a result of the Manitoba wildfires and the social unrest in Peru, both the Manitoba and Peru operations underwent a temporary suspension of operations. Fixed overhead costs of $25.6 million were incurred at Manitoba for the year ended December 31, 2025, which were recognized directly to cost of sales. Additionally, Peru incurred $13.0 million in fixed overhead costs for the year ended December 31, 2025, which were recognized directly to cost of sales.</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>During the year ended December 31, 2025, Hudbay recognized an expense of nil in cost of sales primarily related to adjustments of the carrying value of copper concentrate and stockpile inventory to net realizable value (year ended December 31, 2024 - $0.2 million).</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>During the year ended December 31, 2025, Hudbay recognized an expense of $4.1 million in cost of sales related to the writedown of certain non-current inventory supplies (year ended December 31, 2024 - $2.7 million).</span></span></span></span></p> </div> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Current</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Stockpile</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>17.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>26.9</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Finished goods</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>76.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>81.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Materials and supplies</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>105.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>88.9</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>199.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>197.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Non-current</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Stockpile</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>5.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.2</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Low grade stockpile¹</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>5.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Materials and supplies</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>10.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>8.9</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>21.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>16.6</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>220.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>214.0</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 17900000 26900000 76000000 81600000 105300000 88900000 199200000 197400000 5300000 2200000 5700000 5500000 10600000 8900000 21600000 16600000 220800000 214000000 1243400000 1288400000 25600000 13000000 0 200000 4100000 2700000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#d22630"><strong>11.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Other financial assets</strong></span></span></span></p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Current</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Derivative assets</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Collateral deposit (note 19)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Restricted cash</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">15.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Non-current</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Investments at fair value through profit or loss</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">130.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.1</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">130.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">131.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">27.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> <p style="text-align:justify;margin-left:22pt;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Investments at fair value through profit or loss primarily relate to common shares held in various mining companies. For the year ended December 31, 2025, the Company recorded additions of $62.1 million, unrealized mark-to-market gains of $55.2 million (note 6h), disposals of $0.3 million and unrealized foreign exchange gains of $1.8 million.</span></span></p> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Current</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Derivative assets</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Collateral deposit (note 19)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Restricted cash</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">15.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Non-current</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Investments at fair value through profit or loss</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">130.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.1</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">130.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">131.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">27.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 600000 14300000 0 600000 200000 400000 800000 15300000 130900000 12100000 130900000 12100000 131700000 27400000 62100000 55200000 300000 1800000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span style="color:#d22630"><strong>12.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Intangibles and other assets</strong></span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Intangibles and other assets of $58.6 million (December 31, 2024 - $44.3 million) includes $51.5 million of other assets (December 31, 2024 - $38.8 million) and $7.1 million of intangibles (December 31, 2024 - $5.5 million).</span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Other assets include $42.8 million of the carrying value of certain future community costs that relate to agreements with communities near the Peru operations which allow Hudbay to extract or explore minerals over the useful life of Peru operations. The liability remaining for these costs is recorded in agreements with communities recorded at amortized cost (note 17). Amortization of the carrying amount is recorded in the consolidated statements of income within other expenses (note 6e) or exploration expenses, depending on the nature of the agreement.</span></span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Other assets also include $8.7 million related to cash advances and equipment financing advances made on long lead equipment (December 31, 2024 - nil).</span></span></span></p> <div></div> <p style="text-align:justify;margin-left:22pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Intangibles mainly represent computer software costs. The following table summarizes changes in intangibles:</span></span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span style="color:#5b6770"><strong>Cost</strong></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Balance, beginning of year</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><strong>$</strong></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>22.5</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>$</span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>21.2</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Additions</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>2.1</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>2.5</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Effects of movement in exchange rates</span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>0.7</span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>(1.2</span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>)</span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Balance, end of year</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>25.3</span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>22.5</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span style="color:#5b6770"><strong>Accumulated amortization</strong></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Balance, beginning of year</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>17.0</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>17.2</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Depreciation for the year</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>0.7</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>0.8</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Effects of movement in exchange rates</span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>0.5</span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>(1.0</span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>)</span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Balance, end of year</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>18.2</span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>17.0</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span style="color:#5b6770"><strong>Intangibles, net book value</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><strong>$</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>7.1</span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>$</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>5.5</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> </div> 58600000 44300000 51500000 38800000 7100000 5500000 42800000 8700000 0 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span style="color:#5b6770"><strong>Cost</strong></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Balance, beginning of year</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><strong>$</strong></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>22.5</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>$</span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>21.2</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Additions</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>2.1</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>2.5</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Effects of movement in exchange rates</span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>0.7</span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>(1.2</span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>)</span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Balance, end of year</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>25.3</span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>22.5</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span style="color:#5b6770"><strong>Accumulated amortization</strong></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Balance, beginning of year</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>17.0</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>17.2</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Depreciation for the year</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>0.7</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>0.8</span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Effects of movement in exchange rates</span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>0.5</span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>(1.0</span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>)</span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Balance, end of year</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>18.2</span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>17.0</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span style="color:#5b6770"><strong>Intangibles, net book value</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><strong>$</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>7.1</span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>$</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>5.5</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 22500000 21200000 2100000 2500000 700000 -1200000 25300000 22500000 -17000000 -17200000 -700000 -800000 -500000 1000000 -18200000 -17000000 7100000 5500000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span style="color:#d22630"><strong>13.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Goodwill</strong></span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>The following table summarizes changes in goodwill:</span></span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Balance, January 1, 2024</span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>$</span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>75.3</span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Effects of changes in foreign exchange</span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>(6.1</span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>)</span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Balance, January 1, 2025</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>$</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>69.2</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Effects of changes in foreign exchange</span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>3.4</span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span style="color:#5b6770"><strong>Balance, December 31, 2025</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><strong>$</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><strong>72.6</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> </div> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Goodwill resulted from the purchase price allocation associated with the Copper Mountain acquisition.</span></span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>As of December 31, 2025, all of the Company's goodwill relates to the British Columbia CGU. Goodwill is tested for impairment annually on July 1 or when circumstances indicate that the carrying value may not be recoverable. Goodwill impairment is determined by assessing the recoverable amount of the CGU.</span></span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>For the annual impairment test completed at July 1, 2025, FVLCD was used to determine the recoverable amount since it is higher than value in use. FVLCD was calculated using discounted after-tax cash flows based on cash flow projections and assumptions in Hudbay's most current LOM. The fair value measurement in its entirety is categorized as Level 3 based on the degree to which fair value inputs are observable and have a significant effect on the recorded fair value. LOM plans are based on optimized mine and processing plans and the assessment of capital expenditure requirements of a mine site for the CGU.</span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Management used judgement in determining estimates and assumptions with respect to discount rates, future production levels including amounts of recoverable reserves, resources and exploration potential, operating and capital costs, long-term metal prices, value of mineral resources not included in the LOM plan and future foreign exchange rates. Metal pricing assumptions were based on consensus forecast pricing, and the discount rates were based on a weighted average cost of capital, adjusted for country risk and other risks specific to the CGU. Cash flows were projected through to 2043. Changes in any of the assumptions or estimates used in determining the fair values could impact the impairment analysis.</span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>The discount rate was based on the CGU's weighted average cost of capital, of which the two main components are the cost of equity and the after-tax cost of debt. Cost of equity was calculated based on the capital asset pricing model, incorporating the risk-free rate of return based on the Canadian Government's marketable bond yields as at the valuation date, the Company's beta coefficient adjustment to the market equity risk premium based on the volatility of the Company's return in relation to that of a comparable market portfolio, plus a country risk premium, size premium and company-specific risk factor. Cost of debt was determined by applying an appropriate market indication of the Company's borrowing capabilities and the corporate income tax rate applicable to the segment's jurisdiction. A real discount rate of 7.00% (December 31, 2024 - 7.25%) for the British Columbia CGU was used to calculate the estimated after- tax discounted future net cash flows, commensurate with its individual estimated level of risk.</span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Commodity prices used in the impairment assessment were determined by reference to external market participant sources. The key commodity price for this assessment is the price of copper. The cash flow calculations were based on estimates of future production levels applying forecasts for metal prices, which utilized a long-term copper price of $4.25/lb (December 31, 2024 - $4.15/lb), and capital, operating and reclamation costs based on the most current LOM plans. A value of $366.5 million was utilized to estimate the value of mineral resources not included in the LOM plan.</span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Expected future cash flows used to determine the FVLCD in the impairment test are inherently uncertain and could materially change over time. The Company has conducted an analysis of the sensitivity of the impairment test to changes in the key assumptions used to determine the recoverable amount for the CGUs to which goodwill is allocated. Management believes that any reasonably possible change in the key assumptions on which the recoverable amount is based would not cause the aggregate carrying amount to exceed the aggregate recoverable amount of the related CGU.</span></span></span></p> <p style="margin-left:22pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>The estimated recoverable amount of the British Columbia CGU including goodwill exceeded its carrying amount as at July 1, 2025, accordingly no impairment was recorded.</span></span></span></p> </div> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Balance, January 1, 2024</span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>$</span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>75.3</span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Effects of changes in foreign exchange</span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>(6.1</span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>)</span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Balance, January 1, 2025</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>$</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>69.2</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Effects of changes in foreign exchange</span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>3.4</span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span style="color:#5b6770"><strong>Balance, December 31, 2025</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><strong>$</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><strong>72.6</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> 75300000 -6100000 69200000 3400000 72600000 0.07 0.0725 4.25 4.15 366500000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#d22630"><strong>14.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Property, plant and equipment</strong></span></span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Exploration</strong></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">and</strong></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">evaluation</strong></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">assets</strong></span></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Capital</strong></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">works in</strong></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">progress</strong></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Mining</strong></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">properties</strong></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Plant and</strong></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">equipment</strong></span></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Plant and</strong></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">equipment</strong></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">- ROU</strong></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">assets</strong><sup style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">1</strong></sup></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Total</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Jan. 1, 2025</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">103.4</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">863.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,578.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,345.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">255.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,146.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Additions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">285.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">23.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">68.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">400.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capitalized stripping and development</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">182.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">182.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Decommissioning and restoration</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capitalized accretion and depreciation</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Transfers and other movements</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(117.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">108.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Disposals</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(13.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(5.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(20.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Impairment reversal (note 6f)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">322.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">322.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-9pt;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effects of movements in exchange rates</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">55.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">58.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">121.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Dec. 31, 2025</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">108.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,359.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,842.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,567.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">273.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8,152.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Accumulated depreciation</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Jan. 1, 2025</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,274.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,524.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">165.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,964.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Depreciation for the year</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">225.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">208.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">28.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">462.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Disposals</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(10.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(14.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-9pt;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effects of movement in exchange rates</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">23.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">21.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">45.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Dec. 31, 2025</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,523.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,743.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">191.4</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,458.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net book value</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">108.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,359.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,319.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,823.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">82.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,693.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="19" style="vertical-align:bottom;text-align:justify;width:0px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹Includes $5.3 million of capital works in progress - ROU assets (costs) that relate to the Arizona business unit</span></span></td> </tr> </table> </div> <p style="margin:0pt"> </p> </div> <div></div> <div style="margin-left:22.5pt"> <div> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Exploration</span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">and</span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">evaluation</span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">assets</span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Capital</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">works in</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">progress</span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Mining</span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">properties</span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Plant and</span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">equipment</span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Plant and</span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">equipment-</span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">ROU</span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt">assets</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Total</span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Jan. 1, 2024</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">96.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">804.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,482.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,274.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">243.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6,901.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Additions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">239.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">37.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">25.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">325.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capitalized stripping and development</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">160.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">160.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Decommissioning and restoration</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(18.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capitalized accretion and depreciation</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Transfers and other movements</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(168.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">174.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Disposals</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(11.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(23.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(42.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effects of movements in exchange rates</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.1</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.0</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(89.2</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(99.3</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.4</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(196.0</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Dec. 31, 2024</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">103.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">863.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,578.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,345.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">255.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,146.0</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Accumulated depreciation</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Jan. 1, 2024</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,093.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,348.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">143.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,585.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Depreciation for the year</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">216.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">216.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">456.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Disposals</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(9.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(10.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effects of movement in exchange rates</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(35.5</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31.7</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.5</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(67.7</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Dec. 31, 2024</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,274.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,524.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">165.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,964.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net book value</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">103.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">863.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,303.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,820.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">89.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,181.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹Includes $3.8 million of capital works in progress - ROU assets (costs) that relate to the Arizona business unit.</span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">On a quarterly basis, management assesses for internal and external indicators of impairment and impairment reversal. During the third quarter of 2025, management identified Mitsubishi's agreement to acquire a 30% interest of Copper World to be an indicator of impairment reversal for Arizona CGU.</span></span></p> <p style="margin-left:22pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As a result, a $322.3 million full reversal of the previously recorded impairment was recorded, as the recoverable amount of the Arizona CGU exceeded the current carrying value (note 6f).</span></span></p> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Exploration</strong></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">and</strong></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">evaluation</strong></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">assets</strong></span></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Capital</strong></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">works in</strong></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">progress</strong></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Mining</strong></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">properties</strong></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Plant and</strong></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">equipment</strong></span></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Plant and</strong></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">equipment</strong></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">- ROU</strong></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">assets</strong><sup style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">1</strong></sup></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Total</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Jan. 1, 2025</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">103.4</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">863.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,578.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,345.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">255.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,146.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Additions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">285.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">23.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">68.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">400.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capitalized stripping and development</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">182.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">182.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Decommissioning and restoration</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capitalized accretion and depreciation</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Transfers and other movements</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(117.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">108.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Disposals</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(13.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(5.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(20.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Impairment reversal (note 6f)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">322.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">322.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-9pt;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effects of movements in exchange rates</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">55.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">58.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">121.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Dec. 31, 2025</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">108.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,359.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,842.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,567.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">273.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8,152.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Accumulated depreciation</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Jan. 1, 2025</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,274.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,524.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">165.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,964.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Depreciation for the year</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">225.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">208.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">28.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">462.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Disposals</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(10.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(14.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-9pt;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effects of movement in exchange rates</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">23.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">21.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">45.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Dec. 31, 2025</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,523.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,743.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">191.4</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,458.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net book value</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">108.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,359.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,319.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,823.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">82.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,693.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Exploration</span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">and</span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">evaluation</span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">assets</span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Capital</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">works in</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">progress</span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Mining</span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">properties</span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Plant and</span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">equipment</span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Plant and</span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">equipment-</span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">ROU</span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt">assets</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Total</span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Jan. 1, 2024</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">96.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">804.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,482.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,274.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">243.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6,901.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Additions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">239.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">37.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">25.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">325.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capitalized stripping and development</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">160.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">160.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Decommissioning and restoration</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(18.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capitalized accretion and depreciation</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Transfers and other movements</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(168.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">174.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Disposals</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(11.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(23.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(42.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effects of movements in exchange rates</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.1</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.0</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(89.2</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(99.3</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.4</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(196.0</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Dec. 31, 2024</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">103.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">863.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,578.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,345.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">255.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,146.0</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Accumulated depreciation</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Jan. 1, 2024</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,093.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,348.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">143.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,585.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Depreciation for the year</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">216.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">216.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">456.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Disposals</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(9.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(10.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effects of movement in exchange rates</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(35.5</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31.7</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.5</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(67.7</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, Dec. 31, 2024</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,274.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,524.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">165.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,964.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net book value</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">103.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">863.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,303.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,820.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">89.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,181.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 103400000 863900000 2578300000 3345300000 255100000 7146000000 5200000 285600000 23400000 68400000 17700000 400300000 0 0 182200000 0 0 182200000 0 300000 -900000 400000 0 -200000 0 2000000 0 0 -2000000 0 0 -117500000 3700000 108200000 5600000 0 1100000 600000 0 13400000 5000000 20100000 0 322300000 0 0 0 322300000 1400000 3800000 55900000 58300000 2100000 121500000 108900000 1359800000 2842600000 3567200000 273500000 8152000000 0 0 -1274400000 -1524600000 -165600000 -2964600000 0 0 225200000 208000000 28900000 462100000 0 0 0 -10000000 -4000000 -14000000 0 0 -23400000 -21100000 -900000 -45400000 0 0 -1523000000 -1743700000 -191400000 -3458100000 108900000 1359800000 1319600000 1823500000 82100000 4693900000 5300000 96900000 804600000 2482700000 3274200000 243500000 6901900000 8600000 239400000 14500000 37700000 25500000 325700000 0 0 160500000 0 0 160500000 0 0 13500000 -18200000 0 -4700000 0 2200000 0 0 -1600000 600000 0 -168400000 -3700000 174600000 -2500000 0 0 11900000 0 23700000 6400000 42000000 -2100000 -2000000 -89200000 -99300000 -3400000 -196000000 103400000 863900000 2578300000 3345300000 255100000 7146000000 0 0 -1093900000 -1348900000 -143100000 -2585900000 0 0 216000000 216800000 24000000 456800000 0 0 0 -9400000 -1000000 -10400000 0 0 35500000 31700000 500000 67700000 0 0 -1274400000 -1524600000 -165600000 -2964600000 103400000 863900000 1303900000 1820700000 89500000 4181400000 3800000 0.30 322300000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#d22630"><strong>15.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Trade and other payables</strong></span></span></span></span></span></p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Trade payables</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>84.8</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>66.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Accruals and payables</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>231.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>173.4</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Accrued interest</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>13.8</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>15.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Statutory payables</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>12.3</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>15.0</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>342.8</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>270.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> <p style="margin-left:18pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>  Accruals and payables include operational and capital costs and employee benefit amounts owing.</span></span></span></span></p> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Trade payables</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>84.8</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>66.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Accruals and payables</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>231.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>173.4</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Accrued interest</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>13.8</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>15.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Statutory payables</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>12.3</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>15.0</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>342.8</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>270.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 84800000 66700000 231900000 173400000 13800000 15100000 12300000 15000000 342800000 270200000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#d22630"><strong>16.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Other liabilities</strong></span></span></span></span></span></p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Environmental and other provisions (note 21)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>90.2</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>29.9</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pension obligations</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Other employee benefits</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.6</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>94.7</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>34.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Environmental and other provisions (note 21)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>90.2</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>29.9</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pension obligations</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Other employee benefits</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.6</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>94.7</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>34.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 90200000 29900000 900000 1000000 3600000 3500000 94700000 34400000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#d22630"><strong>17.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Other financial liabilities</strong></span></span></span></span></span></p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Current</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Derivative liabilities</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>31.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Equipment financing</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>26.2</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>16.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Deferred Copper Mountain acquisition consideration</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Agreements with communities recorded at amortized cost</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>61.8</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>21.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>122.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>38.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Non-current</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Equipment financing</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>66.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>60.4</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Agreements with communities recorded at amortized cost</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>44.1</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>46.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Deferred Copper Mountain acquisition consideration</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>14.4</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Contingent Copper Mountain acquisition consideration</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>13.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Wheaton refund liability</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>7.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>7.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Other financial liability</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>8.7</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>155.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>114.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>277.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>152.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Equipment financing represents agreements that Hudbay has entered into to purchase mining equipment. Hudbay owns the assets and finances the payment of these assets over the specified term. These agreements expire between 2026 and 2032 with interest rates between 2.25% and 7.55% per annum. During the year ended December 31, 2025, $33.1 million (December 31, 2024 - $71.0 million) of capital additions related to the recognition of property, plant and equipment that has been financed (note 32). </span></span></span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Agreements with communities recorded at amortized cost relate to agreements with communities near the Constancia operation which allow Hudbay to extract minerals over the useful life of the Constancia operation, carry out exploration and evaluation activities in the area and provide Hudbay with community support to operate in the region. During the year ended December 31, 2025, there was a change in estimate related to amendments of life of mine agreements with respect to Pampacancha and Constancia, and Hudbay entered into three additional two-year agreements, resulting in net additions of $39.5 million.</span></span></span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>As part of the acquisition of the remaining 25% interest in CMBC (note 5), the Company recorded $16.6 million of deferred payment consideration and $13.3 million of contingent consideration as a financial liability at amortized cost on the closing of the transaction. During the year ended December 31, 2025, accretion related to these liabilities was $1.4 million (note 6h).</span></span></span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>As part of the streaming agreement for the 777 mine, Hudbay must repay, with precious metals credits, the stream deposit by August 1, 2052, the expiry date of the agreement. If the stream deposit is not fully repaid with precious metals credits from 777 production by the expiry date, a payment for the remaining amount will be due at the expiry date of the agreement. As the 777 mine has concluded all mining activities following the depletion of reserves and finalized the sales of produced concentrate, Hudbay concluded that the remaining stream deposit will not be repaid by means of precious metals credits from 777 production. The repayment amount is recorded as a Wheaton refund liability<span style="background-color:#ffffff">, </span>which is and will be discounted at the 9.0% rate inherent in the original 777 stream agreement and accreted over the remaining term of the agreement.</span></span></span></span></p> <div></div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The following table summarizes changes in agreements with communities recorded at amortized cost:</span></span></span></span></p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:2.65pt;vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, January 1, 2024</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>54.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Net additions</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>18.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Disbursements</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(9.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Accretion (note 6h)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effects of changes in foreign exchange</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.7</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, December 31, 2024</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>68.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Net additions</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>39.5</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Disbursements</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(17.5</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Accretion (note 6h)</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.4</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Effects of changes in foreign exchange</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>9.1</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Balance, December 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>105.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Current</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Derivative liabilities</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>31.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Equipment financing</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>26.2</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>16.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Deferred Copper Mountain acquisition consideration</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Agreements with communities recorded at amortized cost</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>61.8</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>21.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>122.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>38.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Non-current</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Equipment financing</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>66.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>60.4</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Agreements with communities recorded at amortized cost</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>44.1</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>46.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Deferred Copper Mountain acquisition consideration</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>14.4</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Contingent Copper Mountain acquisition consideration</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>13.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Wheaton refund liability</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>7.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>7.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Other financial liability</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>8.7</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>155.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>114.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>277.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>152.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 31900000 300000 26200000 16300000 3000000 0 61800000 21700000 122900000 38300000 66000000 60400000 44100000 46700000 14400000 0 13900000 0 7900000 7300000 8700000 0 155000000 114400000 277900000 152700000 0.0225 0.0755 33100000 71000000 39500000 0.25 16600000 13300000 1400000 0.09 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:2.65pt;vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, January 1, 2024</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>54.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Net additions</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>18.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Disbursements</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(9.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Accretion (note 6h)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effects of changes in foreign exchange</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.7</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, December 31, 2024</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>68.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Net additions</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>39.5</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Disbursements</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(17.5</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Accretion (note 6h)</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.4</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Effects of changes in foreign exchange</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>9.1</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Balance, December 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>105.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> 54900000 18600000 9100000 4700000 -700000 68400000 39500000 17500000 6400000 9100000 105900000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#d22630"><strong>18.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Lease liabilities </strong></span></span></span></span></span></p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, January 1, 2024</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>90.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Additional capitalized leases</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>25.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Lease payments</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(31.4</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Derecognized leases</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(11.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Accretion and other movements</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.9</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, December 31, 2024</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>74.8</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Additional capitalized leases</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>17.7</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Lease payments</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(36.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Derecognized leases</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Accretion and other movements </strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.3</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Balance, December 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>56.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> <p style="margin-left:36pt;text-indent:-13.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Lease liabilities are reflected in the consolidated balance sheets as follows:</span></span></span></span></p> <div style="margin-left:22.5pt"> <div> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Current</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>26.7</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>30.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Non-current</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>29.3</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>44.3</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>56.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>74.8</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> </div> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Hudbay has entered into leases which expire between 2026 and 2037. The interest rates on leases which were capitalized have interest rates between 2.50% and 8.49%, per annum. The range of interest rates utilized for discounting the lease depends mostly on Hudbay acting as a lessee and duration of the lease. For certain leases, Hudbay has the option to purchase the equipment and vehicles leased at the end of the terms of the leases. Hudbay's obligations under these leases are secured by the lessor's title to the leased assets. The present value of applicable lease payments has been recognized as an ROU asset, which was included as a non-cash addition to property, plant and equipment, and a corresponding amount as a lease liability.</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>There are no restrictions placed on Hudbay by entering into these leases.</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The following outlines expenses recognized within the Company's consolidated statements of income, relating to leases for which a recognition exemption was applied.</span></span></span></span></p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Short-term leases</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>19.6</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>9.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Low value leases</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.4</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.4</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Variable leases</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>18.6</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>23.0</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>38.6</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>33.1</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> <p style="margin-left:22pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Payments made for short-term, low value and variable leases would mostly be captured as expenses in the consolidated statements of income, however, certain amounts may be capitalized to PP&amp;E for the Arizona segment during its development phase and certain amounts may be reported in inventories given the timing of sales. Variable payment leases include equipment used for heavy civil works at Constancia.</span></span></span></span></p> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, January 1, 2024</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>90.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Additional capitalized leases</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>25.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Lease payments</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(31.4</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Derecognized leases</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(11.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Accretion and other movements</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.9</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, December 31, 2024</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>74.8</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Additional capitalized leases</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>17.7</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Lease payments</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(36.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Derecognized leases</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Accretion and other movements </strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.3</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Balance, December 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>56.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Current</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>26.7</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>30.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Non-current</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>29.3</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>44.3</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>56.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>74.8</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 90300000 25500000 31400000 11500000 1900000 74800000 17700000 36900000 900000 1300000 56000000 26700000 30500000 29300000 44300000 56000000 74800000 0.025 0.0849 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Short-term leases</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>19.6</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>9.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Low value leases</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.4</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.4</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Variable leases</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>18.6</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>23.0</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>38.6</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>33.1</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 19600000 9700000 400000 400000 18600000 23000000 38600000 33100000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#d22630"><strong>19.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Long-term debt</strong></span></span></span></span></span></span></p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#5b6770"><strong>Current</strong></span>:</span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Senior unsecured notes (a)</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>$</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span><span>472.1</span></span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #a2aaad;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>$</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>-</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #a2aaad"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#5b6770"><strong>Non-current:</strong></span></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Senior unsecured notes (a)</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span><span>538.8</span></span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>1,111.1</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Senior secured revolving credit facilities (b)</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span><span>(2.3</span></span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>)</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>(3.6</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>)</span></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span><span>536.5</span></span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>1,107.5</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#5b6770"><strong>Total Long-term debt</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>$</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span><span>1,008.6</span></span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>$</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>1,107.5</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>(a)</strong><span style="width:11.5pt;text-indent:0pt;display:inline-block"> </span><strong>Senior unsecured notes</strong></span></span></span></span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-top:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Balance, January 1, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>$</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>1,190.6</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Repurchases</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>(82.6</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>)</span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Write-down of unamortized transaction costs</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>0.6</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Accretion of transaction costs and premiums</span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>2.5</span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-top:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Balance, December 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>$</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>1,111.1</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>Repurchases</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>(102.5</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>)</strong></span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>Write-down of unamortized transaction costs</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>0.2</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>Accretion of transaction costs and premiums</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>2.1</span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#5b6770"><strong>Balance, December 31, 2025</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>$</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>1,010.9</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>As at December 31, 2025, $1,014.9 million aggregate principal amount of senior notes were outstanding in two series: (i) a series of 4.50% senior notes due April 2026 ("2026 notes") in an aggregate principal amount of $472.5 million and (ii) a series of 6.125% senior notes due April 2029 ("2029 notes") in an aggregate principal amount of $542.4 million. To date, the Company repurchased and retired a total of $127.5 million of the 2026 notes and $57.6 million of the 2029 notes at a discount.</span></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>During the year ended December 31, 2025, the Company repurchased and retired a total of $102.5 million of the 2026 notes at a discount. For the year ended December 31, 2025, the discount of $0.4 million (year ended December 31, 2024 - $0.7 million) was recorded as Other expenses in the consolidated statements of income. Upon the repurchase and retirement of $102.5 million of senior unsecured notes, the unamortized transaction costs related to this principal amount for the year ended December 31, 2025 of $0.1 million (year ended December 31, 2024 - $0.6 million) were recorded as a finance expense in the consolidated statements of income.</span></span></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>The senior notes are guaranteed on a senior unsecured basis by substantially all of the Company's subsidiaries, other than HudBay (BVI) Inc. and certain excluded or unrestricted subsidiaries, and subsidiaries that hold the Copper World and Mason projects as well as any newly formed or acquired subsidiaries that primarily hold or may develop non-producing mineral assets that are in the pre-construction phase of development.</span></span></span></span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">(b)</strong><span style="width:11.01pt;text-indent:0pt;display:inline-block;margin-top:0pt;margin-bottom:0pt"> </span><strong style="margin-top:0pt;margin-bottom:0pt">Senior secured revolving credit facilities</strong></span></span></span></span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Balance, January 1, 2024¹</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>$</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>96.9</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Repayments</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>(100.0</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>)</span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Accretion of transaction costs</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>2.0</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Transaction costs</span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>(2.5</span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>)</span></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Balance, December 31, 2024¹</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>$</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>(3.6</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>)</span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>Accretion of transaction costs</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span><span>1.3</span></span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#5b6770"><strong>Balance, December 31, 2025</strong>^{<strong>1</strong>}</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>$</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>(2.3</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>)</strong></span></span></span></span></span></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="4" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:0px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>¹ Balance, representing deferred transaction costs, is in an asset position.</span></span></span></span></span></td> </tr> </table> </div> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Hudbay has two senior secured revolving credit facilities with total commitments of $450.0 million and substantially similar terms and conditions for its Canadian and Peruvian businesses. Hudbay's revolving credit facilities are secured against substantially all of the Company's assets, other than those associated with Copper World and Mason projects. During 2024, Hudbay repaid $10.0 million under its Canadian revolving credit facility and $90.0 million under the Peruvian revolving credit facility. During the fourth quarter of 2024, the two senior secured revolving credit facilities were extended by three years from October 2025 to November 2028. The newly extended $450.0 million revolving credit facility includes an accordion feature to increase the facility by an additional $150 million at Hudbay's discretion during the four-year tenor. Hudbay incurred $2.5 million of transactions costs associated with the extension which were deferred and amortized over the new term of the credit facilities.</span></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>As at December 31, 2025, there were nil draws under the Canadian and Peruvian revolving credit facilities, other than letters of credit to support reclamation and pension obligations as described below.</span></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>As at December 31, 2025,<span> the Peru segment had</span> nil in<span> letters of credit issued under the Peru revolving credit facility to support its reclamation obligations and the Manitoba segment had </span>$25.2 million <span>in letters of credit issued under the Canadian revolving credit facility to support its reclamation and pension obligations.</span><span style="background-color:#ffffff"> </span>As at December 31, 2025, we were in compliance with our covenants under the revolving credit facilities.</span></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="text-decoration:underline">Surety bonds</span></span></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>The Arizona segment h<span>ad $18.4 million in surety bonds issued to support future reclamation and closure obligations. No cash collateral is required to be posted under these surety bonds.</span></span></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>The British C</span>olumbia segment had $47.9 million in surety bonds issued to support future reclamation and closure obligations. The British Columbia segment had $1.0 million in surety bonds issued to BC Hydro in relation to the BC Hydro transmission system at the Copper Mountain Mine, and to Fisheries and Oceans Canada for fish monitoring. No cash collateral is required to be posted under these surety bonds.</span></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>The Peru segment had $23.3 million in surety bonds issued to support future reclamation and closure obligations. No cash collateral is required to be posted under these surety bonds.</span></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="text-decoration:underline">Other letters of credit</span></span></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>The Peru segment had $</span>111.7<span> million in letters of credit issued with various Peruvian financial institutions to support future reclamation and other operating matters. No cash collateral is required to be posted under these letters of credit.</span></span></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>The British Columbia segment had $</span>0.3 million<span> in letters of credit issued to the Ministry of Finance and Ministry of Transport and Transit related to other operating matters. No cash collateral is required to be posted under these letters of credit.</span></span></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Hudbay has a C$130.0 million bilateral letter of credit facility ("LC Facility") with a major Canadian financial institution. As at December 31, 2025, the Manitoba segment had <span style="background-color:#ffffff">$56.4</span> million in letters of credit issued under the LC Facility to support its reclamation and pension obligations.</span></span></span></span></span></p> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#5b6770"><strong>Current</strong></span>:</span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Senior unsecured notes (a)</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>$</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span><span>472.1</span></span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #a2aaad;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>$</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>-</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #a2aaad"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#5b6770"><strong>Non-current:</strong></span></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Senior unsecured notes (a)</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span><span>538.8</span></span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>1,111.1</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Senior secured revolving credit facilities (b)</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span><span>(2.3</span></span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>)</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>(3.6</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>)</span></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span><span>536.5</span></span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>1,107.5</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#5b6770"><strong>Total Long-term debt</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>$</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span><span>1,008.6</span></span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>$</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>1,107.5</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 472100000 0 538800000 1111100000 -2300000 -3600000 536500000 1107500000 1008600000 1107500000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-top:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Balance, January 1, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>$</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>1,190.6</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Repurchases</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>(82.6</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>)</span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Write-down of unamortized transaction costs</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>0.6</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Accretion of transaction costs and premiums</span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>2.5</span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-top:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Balance, December 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>$</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>1,111.1</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>Repurchases</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>(102.5</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>)</strong></span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>Write-down of unamortized transaction costs</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>0.2</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>Accretion of transaction costs and premiums</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>2.1</span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#5b6770"><strong>Balance, December 31, 2025</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>$</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>1,010.9</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> 1190600000 82600000 600000 2500000 1111100000 102500000 200000 2100000 1010900000 1014900000 0.045 472500000 0.06125 542400000 127500000 57600000 102500000 400000 700000 102500000 100000 600000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Balance, January 1, 2024¹</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>$</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>96.9</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Repayments</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>(100.0</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>)</span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Accretion of transaction costs</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>2.0</span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Transaction costs</span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>(2.5</span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>)</span></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>Balance, December 31, 2024¹</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>$</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>(3.6</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>)</span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>Accretion of transaction costs</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span><span>1.3</span></span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span style="color:#5b6770"><strong>Balance, December 31, 2025</strong>^{<strong>1</strong>}</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>$</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>(2.3</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><strong>)</strong></span></span></span></span></span></td> </tr> </table> 96900000 100000000 2000000 2500000 -3600000 1300000 -2300000 450000000 10000000 90000000 450000000 150000000 2500000 0 25200000 18400000 47900000 1000000 23300000 111700000 300000 130000000 56400000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#d22630"><strong>20.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Deferred revenue</strong></span></span></span></span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="text-decoration:underline">Peru Stream Agreement</span></span></span></span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>For the year ended December 31, 2025, the drawdown rates for the Peru stream agreement for gold and silver were $860 and $15.06 per ounce, respectively (year ended December 31, 2024 - $817 and $14.56 per ounce, respectively).</span></span></span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The following table summarizes changes in deferred revenue:</span></span></span></span></p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, January 1, 2024</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>418.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Amortization of deferred revenue</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Liability drawdown</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(74.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Variable consideration adjustments - prior periods</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.8</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Accretion on streaming arrangements</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Current year additions</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>24.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Variable consideration adjustments - prior periods</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.2</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, December 31, 2024</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>372.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Amortization of deferred revenue (note 6a)</strong></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:27.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Liability drawdown</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(65.1</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:27.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Variable consideration adjustments - prior periods</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(9.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Accretion on streaming arrangements (note 6h)</strong></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:27.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Current year-to-date additions</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>20.5</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:27.4pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Variable consideration adjustments - prior periods</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.6</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Balance, December 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>317.1</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Consideration from the Company's stream agreement is considered variable. Gold and silver stream revenue can be subject to cumulative adjustments when the number of ounces to be delivered under the contract changes. As a result of changes in the Company's mineral reserve and resource estimate in the first quarter of 2025, the amortization rate by which deferred revenue is drawn down into income was adjusted and, as required, a current period variable adjustment was made for all prior period stream revenues since the stream agreement inception date. This variable consideration adjustment resulted in an increase in revenue of $9.9 million and a decrease of finance expense of $0.6 million for the year ended December 31, 2025 (year ended December 31, 2024 - decrease in revenue of $3.8 million and an increase of finance expense of $0.2 million).</span></span></span></span></p> <p style="margin-left:36pt;text-indent:-13.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Deferred revenue is reflected in the consolidated balance sheets as follows:</span></span></span></span></p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Current</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>52.1</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>63.1</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Non-current</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>265.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>309.1</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>317.1</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>372.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> 860 15.06 817 14.56 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, January 1, 2024</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>418.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Amortization of deferred revenue</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Liability drawdown</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(74.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Variable consideration adjustments - prior periods</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.8</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Accretion on streaming arrangements</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Current year additions</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>24.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Variable consideration adjustments - prior periods</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.2</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, December 31, 2024</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>372.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Amortization of deferred revenue (note 6a)</strong></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:27.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Liability drawdown</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(65.1</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:27.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Variable consideration adjustments - prior periods</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(9.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Accretion on streaming arrangements (note 6h)</strong></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:27.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Current year-to-date additions</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>20.5</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:27.4pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>Variable consideration adjustments - prior periods</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.6</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Balance, December 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>317.1</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> 418500000 -74300000 3800000 24000000 200000 372200000 -65100000 -9900000 20500000 -600000 317100000 9900000 -600000 -3800000 200000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:right;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Current</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>52.1</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>63.1</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Non-current</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>265.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>309.1</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>317.1</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>372.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 52100000 63100000 265000000 309100000 317100000 372200000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#d22630"><strong>21.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Environmental and other provisions</strong></span></span></span></span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Decommis-</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">sioning,</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">restoration</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">and similar</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">liabilities</span></span></span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Deferred</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt">share units</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><sup style="margin-top:0pt;margin-bottom:0pt">3</sup></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Restricted</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt">share units<sup style="margin-top:0pt;margin-bottom:0pt">1, 3</sup></span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"> </span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Performance</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share units</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><sup style="margin-top:0pt;margin-bottom:0pt">3</sup></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Other²</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Total</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, January 1, 2025</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>296.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>12.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>9.6</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>330.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Net change in provision</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>26.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>11.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>16.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>9.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>64.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Disbursements</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(1.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(5.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(6.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(3.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(0.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(17.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Reduction of obligation to renounce flow-through share expenditures, net of provisions</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(5.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(5.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Unwinding of discount (note 6h)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>11.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>11.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effect of change in discount rate</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(25.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(25.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effect of foreign exchange</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>11.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>13.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effect of change in share price</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>13.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>11.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>8.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>32.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Balance, December 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>318.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>21.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>26.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>26.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>9.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>402.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> </div> <p style="margin-left:22.5pt;margin-bottom:0pt;text-align:justify;margin-top:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹Certain amounts relating to the Arizona segment are capitalized.</span></span></p> <p style="margin-top:0pt;margin-left:22.5pt;margin-bottom:0pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">²Relates primarily to flow-through share premiums, restructuring costs and other non-capital provisions.</span></span></p> <p style="margin-top:0pt;margin-left:22.5pt;text-align:justify;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">³ Please refer to note 26a for further information.</span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Provisions are reflected in the consolidated balance sheets as follows:</span></span></span></span></p> <div style="margin-left:22.5pt"> <div> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">December 31, 2025</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Decommis-</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">sioning,</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">restoration</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">and similar</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt">liabilitie</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">s</span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Deferred</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share units</span><span style="margin-top:0pt;margin-bottom:0pt"> </span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Restricted</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share units</span><span style="margin-top:0pt;margin-bottom:0pt"> </span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Performance</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share units</span><span style="margin-top:0pt;margin-bottom:0pt"> </span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Other</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Total</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Current (note 16)</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>20.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>21.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>20.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>19.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>8.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>90.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Non-current</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>297.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>5.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>7.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>1.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>312.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>318.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>21.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>26.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>26.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>9.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>402.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> <p style="margin:0pt"> </p> </div> </div> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;background-color:#5b6770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Decommis-</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">sioning,</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">restoration</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">and similar</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">liabilities</span></span></span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Deferred</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt">units</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><sup style="margin-top:0pt;margin-bottom:0pt">3</sup> </span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Restricted</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt">units</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><sup style="margin-top:0pt;margin-bottom:0pt">1,3</sup> </span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Performan-</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">ce share</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">units</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><sup style="margin-top:0pt;margin-bottom:0pt">3</sup> </span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Other²</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Total</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, January 1, 2024</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>315.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>8.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.0</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.6</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>12.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>344.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Net additional provisions made</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>14.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.8</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>25.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Disbursements</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(2.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(1.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(2.2</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.9</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(4.8</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(11.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Reduction of obligation to renounce flow-through share-expenditures, net of provisions</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(2.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(2.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Unwinding of discount (note 6h)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>10.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>10.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effect of change in discount rate</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(22.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(22.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effect of foreign exchange</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(18.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(1.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.4</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(20.8</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effect of change in share price</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.2</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.7</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.1</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>8.0</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Balance, December 31, 2024</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>296.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>12.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>9.6</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>330.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> <p style="margin-bottom:0pt;text-align:justify;margin-top:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹Certain amounts relating to the Arizona segment are capitalized.</span></span></p> <p style="margin-top:0pt;margin-bottom:0pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">²Relates primarily to restructuring costs and other non-capital provisions.</span></span></p> <p style="margin-top:0pt;text-align:justify;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">³Please refer to note 26a for further information.</span></span></p> </div> <div></div> <div style="margin-left:22.5pt"> <div> <div> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;background-color:#5b6770;vertical-align:bottom;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">December 31, 2024</span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Decommis-</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">sioning,</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">restoration</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">and similar</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">liabilities</span></span></span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Deferred</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share units</span><span style="margin-top:0pt;margin-bottom:0pt"> </span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Restricted</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share units</span></span></span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Performance</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share unit</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">s</span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Other</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Total</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Current (note 16)</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4.0</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>12.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>29.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Non-current</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>292.9</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.2</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.6</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.1</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>300.8</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>296.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>12.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>9.6</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>330.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> </div> </div> <p style="text-align:justify;margin-left:20.25pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Decommissioning, restoration and similar liabilities are remeasured at each reporting date to reflect changes in discount rates, which can significantly affect the liabilities.</span></span></span></span></p> <p style="text-align:justify;margin-left:20.25pt;margin-bottom:0pt;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="text-decoration:underline">Decommissioning, restoration and similar liabilities ("DRO")</span></span></span></span></span></p> <p style="text-align:justify;margin-left:20.25pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Hudbay's decommissioning, restoration and similar liabilities relate to the rehabilitation and closure of currently operating mines and metallurgical plants, development-phase properties and closed properties. The amount of the provision has been recorded based on estimates and assumptions that management believes are reasonable; however, actual decommissioning and restoration costs may differ from expectations.</span></span></span></span></p> <p style="text-align:justify;margin-left:20.25pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>DRO are remeasured at each reporting date to reflect changes in discount rates, inflation, exchange rates, and timing and extent of cash outflows which can significantly affect the liabilities. The amount of this provision has been recorded based on estimates and assumptions that management believes are reasonable; however, actual decommissioning and restoration costs may differ from expectations.</span></span></span></span></p> <p style="text-align:justify;margin-left:20.25pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>During the year ended December 31, 2025, the Company recorded a non-cash loss of<span style="background-color:#ffffff"> $0.2 million i</span>n the consolidated statements of income mainly related to a revaluation adjustment of Flin Flon's environmental reclamation provision (December 31, 2024 - gain of $3.5 million). The re-evaluation adjustment was impacted by the timing and extent of cash flows for Flin Flon's closed sites. The adjustment also reflects net changes in long term, risk-free real discount rates based on changes in Canadian bond yields as well as increases in inflation rates. Typically, an operating site will reflect any revaluation adjustments of its environmental reclamation provision against its reclamation assets. However, since the Flin Flon operations closed in June 2022, the corresponding Flin Flon assets have been fully depreciated and cannot be reduced below their residual value, resulting in the remaining impact being recorded as a non-cash gain in re-evaluation adjustment - environmental provision in the consolidated statements of income.</span></span></span></span></p> <p style="text-align:justify;margin-left:20.25pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Hudbay's decommissioning and restoration liabilities relate mainly to its Manitoba, Peru and British Columbia operations. Management has placed the remaining Flin Flon assets on care and maintenance. The majority of closure activities will occur once all mining activities in Manitoba are completed. These provisions also reflect estimated post-closure cash flows that extend to the year 2124 for ongoing monitoring and water treatment requirements. Management anticipates most decommissioning and restoration activities for the Peru operation will occur from 2039 to 2103, which include ongoing monitoring and water treatment requirements. Management anticipates most decommissioning and restoration activities for the British Columbia operation will occur from 2041 to 2142, which include ongoing monitoring and water treatment requirements.</span></span></span></span></p> <p style="text-align:justify;margin-left:20pt;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>As at December 31, 2025, decommissioning, restoration and similar liabilities have been discounted to their present value at rates ranging from 2.41% to 4.95% per annum (December 31, 2024 - 2.87% to 4.88%), using pre-tax, risk-free interest rates that reflect the estimated maturity of each specific liability.</span></span></span></span></p> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Decommis-</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">sioning,</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">restoration</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">and similar</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">liabilities</span></span></span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Deferred</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt">share units</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><sup style="margin-top:0pt;margin-bottom:0pt">3</sup></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Restricted</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt">share units<sup style="margin-top:0pt;margin-bottom:0pt">1, 3</sup></span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"> </span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Performance</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share units</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><sup style="margin-top:0pt;margin-bottom:0pt">3</sup></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Other²</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Total</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, January 1, 2025</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>296.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>12.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>9.6</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>330.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Net change in provision</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>26.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>11.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>16.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>9.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>64.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Disbursements</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(1.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(5.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(6.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(3.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(0.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(17.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Reduction of obligation to renounce flow-through share expenditures, net of provisions</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(5.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(5.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Unwinding of discount (note 6h)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>11.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>11.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effect of change in discount rate</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(25.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(25.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effect of foreign exchange</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>11.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>13.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effect of change in share price</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>13.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>11.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>8.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>32.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Balance, December 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>318.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>21.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>26.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>26.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>9.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>402.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;background-color:#5b6770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Decommis-</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">sioning,</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">restoration</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">and similar</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">liabilities</span></span></span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Deferred</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt">units</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><sup style="margin-top:0pt;margin-bottom:0pt">3</sup> </span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Restricted</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt">units</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><sup style="margin-top:0pt;margin-bottom:0pt">1,3</sup> </span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Performan-</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">ce share</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">units</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><sup style="margin-top:0pt;margin-bottom:0pt">3</sup> </span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Other²</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Total</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balance, January 1, 2024</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>315.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>8.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.0</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.6</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>12.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>344.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Net additional provisions made</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>14.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.8</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>25.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Disbursements</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(2.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(1.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(2.2</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.9</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(4.8</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(11.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Reduction of obligation to renounce flow-through share-expenditures, net of provisions</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(2.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(2.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Unwinding of discount (note 6h)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>10.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>10.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effect of change in discount rate</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(22.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(22.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effect of foreign exchange</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(18.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(1.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.5</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.4</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(20.8</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effect of change in share price</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.2</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.7</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.1</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>8.0</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Balance, December 31, 2024</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>296.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>12.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>9.6</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>330.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 296900000 12300000 9600000 5500000 6400000 330700000 26200000 900000 11500000 16000000 9500000 64100000 1700000 5400000 6300000 3500000 900000 17800000 0 0 0 0 5500000 5500000 11100000 0 0 0 0 11100000 -25900000 0 0 0 0 -25900000 11800000 700000 300000 300000 400000 13500000 0 13000000 11000000 8600000 0 32600000 318400000 21500000 26100000 26900000 9900000 402800000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">December 31, 2025</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Decommis-</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">sioning,</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">restoration</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">and similar</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:#ffffff"><span style="margin-top:0pt;margin-bottom:0pt">liabilitie</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">s</span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Deferred</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share units</span><span style="margin-top:0pt;margin-bottom:0pt"> </span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Restricted</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share units</span><span style="margin-top:0pt;margin-bottom:0pt"> </span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Performance</span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share units</span><span style="margin-top:0pt;margin-bottom:0pt"> </span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Other</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Total</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Current (note 16)</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>20.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>21.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>20.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>19.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>8.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>90.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Non-current</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>297.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>5.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>7.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>1.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>312.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>318.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>21.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>26.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>26.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>9.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:8%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>402.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;background-color:#5b6770;vertical-align:bottom;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">December 31, 2024</span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Decommis-</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">sioning,</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">restoration</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">and similar</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">liabilities</span></span></span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Deferred</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="color:#ffffff"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share units</span><span style="margin-top:0pt;margin-bottom:0pt"> </span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Restricted</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share units</span></span></span></span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Performance</span></span></span></span></span></span></span></span></strong></p> <p style="margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">share unit</span></span><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">s</span></span></span></span></span></strong></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Other</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Total</span></span></span></span></span></strong></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Current (note 16)</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4.0</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>12.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>29.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Non-current</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>292.9</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.2</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.6</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.1</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>300.8</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>296.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>12.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>9.6</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:8%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>330.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 20600000 21500000 20500000 19000000 8600000 90200000 297800000 0 5600000 7900000 1300000 312600000 318400000 21500000 26100000 26900000 9900000 402800000 315400000 8700000 5000000 2600000 12500000 344200000 14500000 1100000 5600000 3100000 800000 25100000 2100000 1600000 2200000 900000 4800000 11600000 0 0 0 0 2000000 2000000 10500000 0 0 0 0 10500000 -22700000 0 0 0 0 -22700000 -18700000 -1100000 -500000 -400000 -100000 -20800000 0 5200000 1700000 1100000 0 8000000 296900000 12300000 9600000 5500000 6400000 330700000 4000000 12300000 6400000 1900000 5300000 29900000 292900000 0 3200000 3600000 1100000 300800000 296900000 12300000 9600000 5500000 6400000 330700000 -200000 3500000 0.0241 0.0495 0.0287 0.0488 <div> <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#d22630"><strong>22.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Pension obligations </strong></span></span></span></span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Hudbay maintains non-contributory and contributory defined benefit pension plans for certain of its employees.</span></span></span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>The Company uses a December 31 measurement date for all of its plans. For Hudbay's significant plans, the most recent actuarial valuations filed for funding purposes were performed during 2025 using the latest data available as at December 31, 2024. For these plans, the next actuarial valuation required for funding purposes will be performed during 2026 using the data as of December 31, 2025.</span></span></span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Movements in the present value of the defined benefit obligation in the current and previous years were as follows:</span></span></span></span></span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:center;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:center;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff">Year ended</span></span></span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:center;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Opening defined benefit obligation:</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><strong>$</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>101.4</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>$</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>115.3</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Current service costs</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>4.7</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>4.7</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Past service cost (note 6d)</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>-</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>2.7</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Interest cost</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span><span>4.7</span></span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span>4.8</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Benefits paid from plan</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>(7.4</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>)</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>(10.1</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Benefits paid from employer</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>(0.7</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>)</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>(1.3</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Remeasurement actuarial losses/(gains):</span></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Arising from changes in demographic assumptions</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>-</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>(6.2</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Arising from changes in financial assumptions</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>(4.3</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>)</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>1.3</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Arising from experience adjustments</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>(0.8</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>)</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>(0.5</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Effects of movements in exchange rates</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>5.3</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>(9.3</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>Closing defined benefit obligation</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><strong>$</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>102.9</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>$</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>101.4</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>The defined benefit obligation closing balance, by member group, is as follows:</span></span></span></span></span></span></p> <div style="margin-left:22.5pt;margin-top:0pt;margin-bottom:0pt"> <div style="margin-top:0pt;margin-bottom:0pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Dec. 31, 2025</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">Dec. 31, 2024</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Active members</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">84.8</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">$</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">88.4</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Deferred members</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">4.0</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">2.8</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Retired members</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">14.1</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">10.2</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Closing defined benefit obligation</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">102.9</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">$</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">101.4</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> </table> </div> <p style="margin:0pt"> </p> </div> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Movements in the fair value of the pension plan assets in the current and previous years were as follows:</span></span></span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:center;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:center;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:center;border-bottom:0.75pt solid #a2aaad"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Opening fair value of plan assets:</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>94.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>106.0</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Interest income</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Contributions from the employer</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Employer direct benefit payments</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Contributions from plan participants</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Benefit payment from employer</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(0.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(1.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Administrative expenses paid from plan assets</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Benefits paid</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(7.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(10.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Settlement payments from plan assets</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Remeasurement adjustment:</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:17.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Return on plan assets (excluding amounts included in net interest expense)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(2.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effects of changes in foreign exchange rates</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(8.4</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Closing fair value of plan assets</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>94.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>94.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The amount included in the consolidated balance sheets arising from the entity's obligation in respect of its defined benefit plans is as follows:</span></span></span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Present value of funded defined benefit obligation</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>87.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>87.1</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Fair value of plan assets</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(94.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(94.2</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Present value of unfunded defined benefit obligation</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>15.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>14.3</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Net liability arising from defined benefit obligation</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>8.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>7.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Reflected in the consolidated balance sheets as follows:</span></span></span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pension obligation - current (note 16)</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.0</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pension obligation - non-current</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>7.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.2</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Total pension obligations</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>8.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>7.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="margin-top:0pt;margin-bottom:0pt"> </p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pension expense is as follows:</span></span></span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Service costs:</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Current service cost</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Past service cost</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid #a2aaad;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid #a2aaad;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid #a2aaad;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total service cost</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>7.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Net interest expense</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.2</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Administration cost</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.1</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Defined benefit pension expense</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>5.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>7.8</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:17%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:17%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Defined contribution pension expense (note 6d)</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.1</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Remeasurement on the net defined benefit liability:</span></span></span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:11.65pt;vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-indent:-11.65pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Return on plan assets (excluding amounts included in net interest expense)</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(1.0</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-11.65pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Actuarial gain arising from changes in demographic assumptions</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(6.2</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-11.65pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Actuarial (gain) loss arising from changes in financial assumptions</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;padding-left:11.65pt;padding-right:5.4pt;text-indent:-11.65pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Actuarial gain arising from experience adjustments</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(0.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.5</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;padding-left:11.65pt;padding-right:5.4pt;text-indent:-11.65pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Defined benefit gain related to remeasurement</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(3.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(6.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom;padding-left:11.65pt;padding-right:5.4pt;text-indent:-11.65pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Total pension cost</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pension amounts recognized include those directly related to production of inventory; such amounts are recognized initially as costs of inventory and are expensed in the consolidated statements of income within cost of sales upon sale of the inventory.</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The current service cost, the interest cost and administration cost for the year are included in the employee benefits expense. The remeasurement of the net defined benefit liability is included in OCI.</span></span></span></span></p> <div> <div style="margin-top:13.3333px;margin-bottom:0px"></div> </div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The defined benefit pension plans typically expose Hudbay to actuarial risks such as: investment risk, interest rate risk, longevity risk and salary risk.</span></span></span></span></p> <div style="margin-left:22.5pt"> <table border="1" cellpadding="3" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="width:17%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:middle;border:1pt solid #000000;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Investment risk</span></span></span></span></td> <td style="width:80%;padding-right:2.15pt;padding-left:2.15pt;vertical-align:middle;border:1pt solid #000000;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The present value of the liabilities for the defined benefit plans is calculated using a discount rate determined by reference to high quality corporate bond yields; if the return on plan assets is below this rate, it will create a plan deficit. Hudbay's primary quantitative investment objectives are maximization of the long term real rate of return, subject to an acceptable degree of investment risk and preservation of principal. Risk tolerance is established through consideration of several factors including past performance, current market condition and the funded status of the plan.</span></span></span></span></td> </tr> <tr> <td style="width:17%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:middle;border:1pt solid #000000;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Interest risk</span></span></span></span></td> <td style="border:1pt solid #000000;width:80%;vertical-align:middle;padding-right:2.15pt;padding-left:2.15pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>A decrease in the bond interest rate will increase the pension plan liabilities; however, this will be partially offset by an increase in the return on the plan's debt investments.</span></span></span></span></td> </tr> <tr> <td style="width:17%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:middle;border:1pt solid #000000;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Longevity risk</span></span></span></span></td> <td style="border:1pt solid #000000;width:80%;vertical-align:middle;padding-right:2.15pt;padding-left:2.15pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The present value of the defined benefit plans liabilities is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the pension plans liabilities.</span></span></span></span></td> </tr> <tr> <td style="width:17%;padding-right:2.65pt;padding-left:2.15pt;vertical-align:middle;border:1pt solid #000000;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Salary risk</span></span></span></span></td> <td style="width:80%;padding-right:2.15pt;padding-left:2.15pt;vertical-align:middle;border:1pt solid #000000;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The present value of the defined benefit plans liabilities for some of the pension plans is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the plans' liabilities.</span></span></span></span></td> </tr> </table> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The principal assumptions used for the purposes of the actuarial valuations were as follows:</span></span></span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;background-color:#566770"> </td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>2025</strong></span></span></span></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">2024</span></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Defined benefit cost:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Discount rate - benefit obligations</span></span></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.66%</span></span></strong></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4.64%</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Discount rate - service cost</span></span></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.73%</span></span></strong></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4.64%</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Expected rate of salary increase¹</span></span></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span><span>2.75</span>%</span></span></strong></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>2.75</span>%</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;text-indent:-9pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Average longevity at retirement age for current pensioners (years)² :</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Males</span></span></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>20.6</span></span></strong></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>20.5</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Females</span></span></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>24.0</span></span></strong></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>23.9</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Defined benefit obligation:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Discount rate</span></span></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.92%</span></span></strong></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4.66%</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Expected rate of salary increase^1,3</span></span></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2.75%</span></span></strong></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.75%</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;text-indent:-9pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Average longevity at retirement age for current pensioners (years)² :</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Males</span></span></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>20.7</span></span></strong></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>20.6</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Females</span></span></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>24.0</span></span></strong></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>24.0</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;text-indent:-9pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Average longevity at retirement age for current employees (future pensioners) (years)² :</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Males</span></span></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>22.5</span></span></strong></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>22.5</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;border-bottom:0.75pt solid #000000"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Females</span></span></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>25.7</span></span></strong></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>25.6</span></span></span></span></td> </tr> </table> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td colspan="3" style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>¹ Plus merit and promotional scale based on member's age</span></span></span></span></td> </tr> <tr> <td colspan="3" style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>² Revised retirement pension plan only - CPM2014 Priv with MI-2017 projection scale with loading of 1.25 and 1.15 for males and females</span></span></span></span></td> </tr> <tr> <td colspan="3" style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>³The 2024 defined benefit obligation rate of salary increase is 3.0% for 2024 and 2.75% thereafter.</span></span></span></span></td> </tr> </table> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Hudbay reviews the assumptions used to measure pension costs (including the discount rate) on an annual basis. Economic and market conditions at the measurement date affect these assumptions from year to year. In determining the discount rate, Hudbay uses the cash flow approach.</span></span></span></span></p> <div style="margin-top:13.3333px;margin-bottom:0px"></div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Significant actuarial assumptions for the determination of the defined benefit obligation are discount rate, expected salary increase and mortality. The sensitivity analysis below has been determined based on reasonably possible changes of the respective assumptions occurring at the end of the reporting periods, while holding other assumptions constant:</span></span></span></span></p> <p style="margin-left:45pt;margin-bottom:0pt;text-indent:-9pt;text-align:justify;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-<span style="display:inline-block;width:5.0pt"> </span>If the discount rate is 50 basis points higher (lower), the defined benefit obligation would decrease by $8.1 million (increase by $9.2 million).</span></span></span></span></p> <p style="margin-top:0pt;margin-left:45pt;margin-bottom:0pt;text-indent:-9pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-<span style="display:inline-block;width:5.0pt"> </span>If the expected salary growth increases (decreases) by 1%, the defined benefit obligation would increase by $1.1 million (decrease by $1.0 million).</span></span></span></span></p> <p style="margin-top:0pt;margin-left:45pt;text-indent:-9pt;text-align:justify;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-<span style="display:inline-block;width:5.0pt"> </span>If the life expectancy increases (decreases) by one year for both men and women, the defined benefit obligation would increase by $0.8 million (decrease by $0.8 million).</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated.</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation liability recognized in the consolidated balance sheets.</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The Company's main pension plans are registered federally with the Office of the Superintendent of Financial Institution and with the Canada Revenue Agency. The registered pension plans are governed in accordance with the Pension Benefits Standards Act and the Income Tax Act. The sponsor contributes the amount needed to maintain adequate funding as dictated by the prevailing regulations.</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Expected employer contribution to the pension plans for the fiscal year ending December 31, 2025 is $1.6 million.</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The average duration of the pension obligation at December 31, 2025 is 17.6 years (2024 - 18.7 years). This number can be broken down as follows:</span></span></span></span></p> <p style="margin-left:45pt;margin-bottom:0pt;text-indent:-9pt;text-align:justify;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-<span style="display:inline-block;width:5.0pt"> </span>Active members: 19.0 years (2024: 19.8 years)</span></span></span></span></p> <p style="margin-top:0pt;margin-left:45pt;margin-bottom:0pt;text-indent:-9pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-<span style="display:inline-block;width:5.0pt"> </span>Deferred members: 19.0 years (2024: 17.8 years)</span></span></span></span></p> <p style="margin-top:0pt;margin-left:45pt;text-indent:-9pt;text-align:justify;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-<span style="display:inline-block;width:5.0pt"> </span>Retired members: 8.4 years (2024: 9.4 years)</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Asset-Liability-Matching studies are performed periodically to analyze the investment policies in terms of risk and-return profiles.</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The pension plans do not invest directly in either securities or property/real estate of the Company.</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>With the exception of fixed income investments and certain equity instruments, the plan assets are actively managed by investment managers, with the goal of attaining returns that potentially outperform passively managed investments. Within appropriate limits, the actual composition of the invested funds may vary from the prescribed investment mix.</span></span></span></span></p> <div style="margin-top:13.3333px;margin-bottom:0px"></div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The following is a summary of the fair value classification levels for investment:</span></span></span></span></p> <div> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>December 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Level 1</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Level 2</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Level 3</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Total</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Investments:</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Money market instruments</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>1.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>1.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pooled equity funds</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>34.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>34.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pooled fixed income funds</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>58.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>58.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balanced funds</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>35.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>58.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>94.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> <p style="margin-top:0pt;margin-bottom:0pt"> </p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">December 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Level 1</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Level 2</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Level 3</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Total</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Investments:</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Money market instruments</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pooled equity funds</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>33.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>33.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pooled fixed income funds</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>59.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>59.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balanced funds</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.5</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.5</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>34.1</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>60.1</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>94.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> </div> </div> </div> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:center;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:center;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff">Year ended</span></span></span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;text-align:center;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Opening defined benefit obligation:</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><strong>$</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>101.4</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>$</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>115.3</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Current service costs</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>4.7</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>4.7</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Past service cost (note 6d)</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>-</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>2.7</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Interest cost</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span><span>4.7</span></span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span>4.8</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Benefits paid from plan</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>(7.4</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>)</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>(10.1</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Benefits paid from employer</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>(0.7</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>)</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>(1.3</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Remeasurement actuarial losses/(gains):</span></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Arising from changes in demographic assumptions</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>-</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>(6.2</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Arising from changes in financial assumptions</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>(4.3</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>)</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>1.3</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Arising from experience adjustments</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>(0.8</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>)</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>(0.5</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Effects of movements in exchange rates</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>5.3</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>(9.3</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>Closing defined benefit obligation</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><strong>$</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>102.9</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>$</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>101.4</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 101400000 115300000 4700000 4700000 0 2700000 4700000 4800000 7400000 10100000 700000 1300000 0 -6200000 -4300000 1300000 -800000 -500000 5300000 -9300000 102900000 101400000 <div style="margin-top:0pt;margin-bottom:0pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Dec. 31, 2025</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">Dec. 31, 2024</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Active members</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">84.8</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">$</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">88.4</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Deferred members</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">4.0</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">2.8</span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Retired members</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">14.1</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">10.2</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Closing defined benefit obligation</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">102.9</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">$</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">101.4</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> </table> </div> 84800000 88400000 4000000 2800000 14100000 10200000 102900000 101400000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:center;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:center;border-bottom:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;text-align:center;border-bottom:0.75pt solid #a2aaad"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Opening fair value of plan assets:</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>94.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>106.0</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Interest income</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Contributions from the employer</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Employer direct benefit payments</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Contributions from plan participants</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Benefit payment from employer</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(0.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(1.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Administrative expenses paid from plan assets</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Benefits paid</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(7.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(10.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Settlement payments from plan assets</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Remeasurement adjustment:</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:17.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Return on plan assets (excluding amounts included in net interest expense)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(2.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Effects of changes in foreign exchange rates</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(8.4</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Closing fair value of plan assets</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>94.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>94.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 94200000 106000000 4300000 4600000 800000 1100000 700000 1300000 0 100000 700000 1300000 0 100000 7400000 10100000 0 0 2000000 -1000000 4600000 -8400000 94500000 94200000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Present value of funded defined benefit obligation</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>87.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>87.1</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Fair value of plan assets</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(94.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(94.2</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Present value of unfunded defined benefit obligation</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>15.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>14.3</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Net liability arising from defined benefit obligation</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>8.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>7.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 87700000 87100000 94500000 94200000 15200000 14300000 -8400000 -7200000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pension obligation - current (note 16)</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.0</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pension obligation - non-current</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>7.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.2</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Total pension obligations</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>8.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>7.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 900000 1000000 7500000 6200000 -8400000 -7200000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Service costs:</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Current service cost</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Past service cost</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid #a2aaad;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid #a2aaad;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid #a2aaad;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total service cost</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>7.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Net interest expense</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.2</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Administration cost</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.1</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Defined benefit pension expense</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>5.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>7.8</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:17%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:17%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Defined contribution pension expense (note 6d)</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.1</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 4700000 4700000 0 2700000 4700000 7500000 400000 200000 0 100000 5100000 7800000 2500000 2100000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:11.65pt;vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-indent:-11.65pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Return on plan assets (excluding amounts included in net interest expense)</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(1.0</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-11.65pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Actuarial gain arising from changes in demographic assumptions</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(6.2</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:11.65pt;vertical-align:bottom;text-indent:-11.65pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Actuarial (gain) loss arising from changes in financial assumptions</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;padding-left:11.65pt;padding-right:5.4pt;text-indent:-11.65pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Actuarial gain arising from experience adjustments</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(0.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(0.5</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;padding-left:11.65pt;padding-right:5.4pt;text-indent:-11.65pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Defined benefit gain related to remeasurement</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(3.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(6.4</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom;padding-left:11.65pt;padding-right:5.4pt;text-indent:-11.65pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Total pension cost</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3.5</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 2000000 -1000000 0 -6200000 4300000 -1300000 -800000 -500000 -3100000 -6400000 4500000 3500000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #000000;border-top:1.5pt solid #000000;background-color:#566770"> </td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>2025</strong></span></span></span></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">2024</span></span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Defined benefit cost:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Discount rate - benefit obligations</span></span></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.66%</span></span></strong></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4.64%</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Discount rate - service cost</span></span></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.73%</span></span></strong></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4.64%</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Expected rate of salary increase¹</span></span></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span><span>2.75</span>%</span></span></strong></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span>2.75</span>%</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;text-indent:-9pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Average longevity at retirement age for current pensioners (years)² :</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Males</span></span></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>20.6</span></span></strong></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>20.5</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Females</span></span></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>24.0</span></span></strong></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>23.9</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Defined benefit obligation:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Discount rate</span></span></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.92%</span></span></strong></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4.66%</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Expected rate of salary increase^1,3</span></span></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2.75%</span></span></strong></span></span></td> <td style="width:19%;padding-right:0.75pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.75%</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;text-indent:-9pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Average longevity at retirement age for current pensioners (years)² :</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Males</span></span></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>20.7</span></span></strong></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>20.6</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Females</span></span></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>24.0</span></span></strong></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>24.0</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;text-indent:-9pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Average longevity at retirement age for current employees (future pensioners) (years)² :</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Males</span></span></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>22.5</span></span></strong></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>22.5</span></span></span></span></td> </tr> <tr> <td style="width:59%;padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;border-bottom:0.75pt solid #000000"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Females</span></span></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>25.7</span></span></strong></span></span></td> <td style="width:19%;padding-right:2.65pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>25.6</span></span></span></span></td> </tr> </table> </div> 0.0466 0.0464 0.0473 0.0464 0.0275 0.0275 20.6 20.5 24 23.9 0.0492 0.0466 0.0275 0.0275 20.7 20.6 24 24 22.5 22.5 25.7 25.6 0.03 0.0275 50 50 -8100000 9200000 0.01 0.01 1100000 -1000000 1 1 800000 -800000 1600000 P17Y7M6D P18Y8M12D P19Y P19Y9M18D P19Y P17Y9M18D P8Y4M24D P9Y4M24D <div> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>December 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Level 1</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Level 2</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Level 3</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Total</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Investments:</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Money market instruments</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>1.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>1.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pooled equity funds</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>34.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>34.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pooled fixed income funds</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>58.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>58.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balanced funds</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>0.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>35.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>58.9</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>$</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>94.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> <p style="margin-top:0pt;margin-bottom:0pt"> </p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">December 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Level 1</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Level 2</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Level 3</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Total</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Investments:</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Money market instruments</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pooled equity funds</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>33.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>33.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Pooled fixed income funds</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>59.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>59.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Balanced funds</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.5</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.5</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>34.1</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>60.1</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>94.2</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> </div> 1000000 0 0 1000000 34600000 0 0 34600000 0 58500000 0 58500000 0 400000 0 400000 35600000 58900000 0 94500000 1100000 0 0 1100000 33000000 0 0 33000000 0 59600000 0 59600000 0 500000 0 500000 34100000 60100000 0 94200000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#d22630"><strong>23.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Other employee benefits</strong></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay sponsors both other long-term employee benefit plans and non-pension post-employment benefits plans and uses a December 31 measurement date. These obligations relate mainly to commitments for post-retirement health benefits. Information about Hudbay's post-employment and other long-term employee benefits is as follows:</span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Movements in the present value of the defined benefit obligation in the current and previous years were:</span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Year ended</span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:1.5pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Opening defined benefit obligation</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">81.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">103.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Current service cost¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Past service cost</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Interest cost</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Benefits paid</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Remeasurement actuarial (gain)/loss:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arising from changes in demographic assumptions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(12.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arising from changes in financial assumptions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arising from experience adjustments</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(5.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effects of movements in exchange rates</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.1</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.4</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Closing defined benefit obligation</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">83.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">81.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹Includes remeasurement of other long term employee benefits</span></span></p> <p style="text-indent:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The defined benefit obligation closing balance, by group member, is as follows:</span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Active members</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Inactive members</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">57.0</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">54.8</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Closing defined benefit obligation</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">83.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">81.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Movements in the fair value of defined benefit amounts in the current and previous years were as follows:</span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Employer contributions</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Benefits paid</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.8</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.9</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Closing fair value of assets</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="text-indent:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The non-pension employee benefit plan obligations are unfunded.</span></span></p> <div style="margin-top:13.3333px;margin-bottom:0px"></div> <p style="text-indent:22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Reconciliation of assets and liabilities recognized in the consolidated balance sheets:</span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Unfunded benefit obligation</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">83.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">81.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Vacation accrual and other - non-current</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.4</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.3</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Net liability </strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">86.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">83.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="text-indent:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Reflected in the consolidated balance sheets as follows:</span></span></p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other employee benefits liability - current (note 16)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other employee benefits liability - non-current</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">82.4</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">80.3</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Net liability</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">86.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">83.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> <p style="text-indent:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other employee future benefit expense includes the following:</span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Current service cost ¹</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Past service cost</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net interest cost</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.8</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.5</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Components recognized in consolidated statements of income</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.9</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="7" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify;width:0px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹ Includes remeasurement of other long term employee benefit and curtailment</span></span></td> </tr> </table> </div> <p style="margin-top:0pt;margin-bottom:0pt"> </p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Remeasurement on the net defined benefit liability:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Actuarial gain arising from changes in demographic assumptions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(12.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;text-indent:-13.5pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">     Actuarial gain arising from changes in financial assumptions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-indent:-13.5pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">     Actuarial gain arising from changes experience adjustments</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.4</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(5.3</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Components recognized in statements of comprehensive income</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(19.3</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:rgb(91, 103, 112);display:block;margin:-4pt"> </span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Total other employee future benefit expense / (income)</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(10.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other employee benefit amounts recognized include those directly related to production of inventory; such amounts are recognized initially as costs of inventory and are expensed in the consolidated statements of income within cost of sales upon sale of the inventory.</span></span></p> <div style="margin-top:13.3333px;margin-bottom:0px"></div> <div> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;background-color:#566770;white-space:nowrap;padding-right:5.4pt"> </td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-right:5.4pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Defined benefit cost:</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4;padding-right:5.4pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;padding-right:5.4pt"> </td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:11.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Discount rate</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.74%</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.64%</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:11.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Initial weighted average health care trend rate</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.67%</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.82%</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:11.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Ultimate weighted average health care trend rate</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.00%</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.00%</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:29.65pt;vertical-align:top;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Average longevity at retirement age for current pensioners (years)¹:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4;padding-right:5.4pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;padding-right:5.4pt"> </td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Males</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.6</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.5</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Females</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.0</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">23.9</span></span></td> </tr> </table> </div> <p style="margin-top:0pt;margin-bottom:0pt"> </p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;white-space:nowrap;padding-right:5.4pt"> </td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-right:5.4pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Defined benefit obligation:</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4;padding-right:5.4pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;padding-right:5.4pt"> </td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:11.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Discount rate</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.05%</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.74%</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:11.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Initial weighted average health care trend rate</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.59%</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.67%</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:11.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Ultimate weighted average health care trend rate</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.00%</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.00%</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Average longevity at retirement age for current pensioners (years)¹:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4;padding-right:5.4pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;padding-right:5.4pt"> </td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Males</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.7</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.6</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Females</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.0</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.0</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Average longevity at retirement age for current employees (future pensioners) (years)¹:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4;padding-right:5.4pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;padding-right:5.4pt"> </td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Males</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">22.5</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">22.5</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Females</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">25.7</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">25.6</span></span></td> </tr> </table> </div> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹CPM2014 Priv with MI-2017 projection scale with loading of 1.25 and 1.15 for males and females.</span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay reviews the assumptions used to measure other employee benefit costs (including the discount rate) on an annual basis.</span></span></p> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">The other employee benefit costs typically expose Hudbay to actuarial risks such as: interest rate risk, health care cost inflation risk and longevity risk.</span></span></p> <div style="margin-left:22.5pt;margin-top:0pt;margin-bottom:0pt"> <table border="1" cellpadding="3" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border:1pt solid #000000"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Interest risk</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;border:1pt solid #000000"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">A decrease in the bond interest rate will increase the plan liabilities.</span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-bottom:0pt;border:1pt solid rgb(0, 0, 0);margin-top:0pt"> <p style="font-size:10pt;font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Health care cost inflation risk</p> </td> <td style="border:1pt solid rgb(0, 0, 0);width:76%;vertical-align:bottom;padding-right:2.15pt;padding-left:2.15pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"> <p style="font-size:10pt;font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">The majority of the plan's benefit obligations are linked to health care cost inflation and higher inflation will lead to higher liabilities.</p> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border:1pt solid #000000"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Longevity risk</span></span></td> <td style="width:76%;padding-right:2.15pt;padding-left:2.15pt;vertical-align:bottom;border:1pt solid rgb(0, 0, 0);text-align:justify;margin-top:0pt;margin-bottom:0pt"><br/><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">The majority of the plans' benefit liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plans' liabilities. This is particularly significant for benefits subject to health care cost inflation where increases in inflation result in higher sensitivity to changes in life expectancy.</span></span></td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt"> </p> </div> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="text-align:justify;margin-left:22pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The sensitivity analyses below have been determined based on reasonably possible changes of the respective assumptions occurring at the end of the reporting period, while holding other assumptions constant:</span></span></p> <p style="margin-left:45pt;margin-bottom:0pt;text-indent:-9pt;text-align:justify;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:5.0pt"> </span>If the discount rate is 50 basis points higher (lower), the defined benefit obligation would decrease by $5.7 million (increase by $6.4 million).</span></span></p> <p style="margin-left:45pt;margin-bottom:0pt;text-indent:-9pt;margin-top:0pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:5.0pt"> </span>If the health care cost assumption increases (decreases) by 1%, the defined benefit obligation would increase by $12.9 million (decrease by $10.4 million).</span></span></p> <p style="margin-left:45pt;text-indent:-9pt;margin-top:0pt;text-align:justify;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:5.0pt"> </span>If the life expectancy increases (decreases) by one year for both men and women, the defined benefit obligations would increase by $3.2 million (decrease by $3.2 million).</span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The average duration of the non-pension post-employment obligation at December 31, 2025 is 14.4<span style="background-color:#ffffff"> </span>years (2024: 15.0 years).</span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">This number can be broken down as follows:</span></span></p> <p style="margin-left:45pt;margin-bottom:0pt;text-indent:-9pt;text-align:justify;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:5.0pt"> </span>Active members: 22.3 years (2024: 23.0 years)</span></span></p> <p style="margin-top:0pt;margin-left:45pt;text-indent:-9pt;text-align:justify;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:5.0pt"> </span>Inactive members: 10.9 years (2024: 11.3 years)</span></span></p> </div> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Year ended</span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:1.5pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Opening defined benefit obligation</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">81.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">103.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Current service cost¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Past service cost</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Interest cost</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Benefits paid</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Remeasurement actuarial (gain)/loss:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arising from changes in demographic assumptions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(12.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arising from changes in financial assumptions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arising from experience adjustments</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(5.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effects of movements in exchange rates</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.1</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.4</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Closing defined benefit obligation</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">83.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">81.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 81500000 103200000 1800000 2800000 0 1600000 3800000 4500000 2800000 2900000 0 -12800000 -4400000 -1200000 -400000 -5300000 4100000 -8400000 83600000 81500000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Active members</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Inactive members</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">57.0</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">54.8</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Closing defined benefit obligation</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">83.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">81.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 26600000 26700000 57000000 54800000 83600000 81500000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Employer contributions</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Benefits paid</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.8</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.9</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Closing fair value of assets</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 2800000 2900000 2800000 2900000 0 0 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Unfunded benefit obligation</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">83.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">81.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Vacation accrual and other - non-current</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.4</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.3</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Net liability </strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">86.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">83.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 83600000 81500000 2400000 2300000 -86000000 -83800000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other employee benefits liability - current (note 16)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other employee benefits liability - non-current</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">82.4</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">80.3</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Net liability</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">86.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">83.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> 3600000 3500000 82400000 80300000 -86000000 -83800000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Current service cost ¹</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Past service cost</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net interest cost</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.8</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.5</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Components recognized in consolidated statements of income</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.9</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 1800000 2800000 0 1600000 3800000 4500000 5600000 8900000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Remeasurement on the net defined benefit liability:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Actuarial gain arising from changes in demographic assumptions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(12.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;text-indent:-13.5pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">     Actuarial gain arising from changes in financial assumptions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:20.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-indent:-13.5pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">     Actuarial gain arising from changes experience adjustments</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.4</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(5.3</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Components recognized in statements of comprehensive income</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(19.3</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:rgb(91, 103, 112);display:block;margin:-4pt"> </span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:17%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Total other employee future benefit expense / (income)</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(10.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> 0 -12800000 -4400000 -1200000 -400000 -5300000 -4800000 -19300000 800000 -10400000 <div> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;background-color:#566770;white-space:nowrap;padding-right:5.4pt"> </td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-right:5.4pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Defined benefit cost:</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4;padding-right:5.4pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;padding-right:5.4pt"> </td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:11.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Discount rate</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.74%</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.64%</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:11.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Initial weighted average health care trend rate</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.67%</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.82%</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:11.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Ultimate weighted average health care trend rate</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.00%</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.00%</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:29.65pt;vertical-align:top;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Average longevity at retirement age for current pensioners (years)¹:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4;padding-right:5.4pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;padding-right:5.4pt"> </td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Males</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.6</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.5</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Females</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.0</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">23.9</span></span></td> </tr> </table> </div> <p style="margin-top:0pt;margin-bottom:0pt"> </p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;white-space:nowrap;padding-right:5.4pt"> </td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-right:5.4pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Defined benefit obligation:</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4;padding-right:5.4pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;padding-right:5.4pt"> </td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:11.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Discount rate</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.05%</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.74%</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:11.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Initial weighted average health care trend rate</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.59%</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.67%</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:11.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Ultimate weighted average health care trend rate</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.00%</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.00%</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Average longevity at retirement age for current pensioners (years)¹:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4;padding-right:5.4pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;padding-right:5.4pt"> </td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Males</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.7</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.6</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Females</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.0</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.0</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top;text-indent:-9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Average longevity at retirement age for current employees (future pensioners) (years)¹:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#d0d3d4;padding-right:5.4pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;padding-right:5.4pt"> </td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Males</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">22.5</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">22.5</span></span></td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:20.65pt;vertical-align:top;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Females</span></span></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">25.7</span></span></strong></td> <td style="width:19%;padding-right:5.4pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">25.6</span></span></td> </tr> </table> </div> </div> 0.0474 0.0464 0.0567 0.0582 0.04 0.04 20.6 20.5 24 23.9 0.0505 0.0474 0.0559 0.0567 0.04 0.04 20.7 20.6 24 24 22.5 22.5 25.7 25.6 50 50 -5700000 6400000 0.01 0.01 12900000 -10400000 1 1 3200000 -3200000 14.4 15 22.3 23 10.9 11.3 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#d22630"><strong>24.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Income and mining taxes</strong></span></span></span></span></span></p> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>(a)</strong><span style="width:11.5pt;text-indent:0pt;display:inline-block"> </span><strong>Tax expense:</strong></span></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The tax expense is applicable as follows:</span></span></span></span></p> <div style="margin-left:45pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Current:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Income taxes</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>209.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>119.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Mining taxes</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>83.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>57.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Adjustments in respect of prior years</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(1.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.2</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>291.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>176.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Deferred:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Income tax expense (recovery) - origination, revaluation and/or reversal of temporary differences</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>61.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>15.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Mining tax recovery - origination, revaluation and/or reversal of temporary difference</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(3.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(5.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Adjustments in respect of prior years</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(1.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(2.8</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>56.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>347.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>183.8</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Adjustments in respect of prior years refers to amounts changing due to the filing of tax returns and assessments from government authorities as well as any change identified that would result in a difference to our current or deferred tax balances as reported in the prior fiscal year end.</span></span></span></span></p> <div> <div style="margin-top:13.3333px;margin-bottom:0px"></div> </div> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(b)</strong><span style="width:11.01pt;text-indent:0pt;display:inline-block"> </span><strong>Deferred tax assets and liabilities as represented on the consolidated balance sheets:</strong></span></span></p> <div style="margin-left:45pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred income tax asset</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">66.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">102.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred income tax liability</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(343.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(305.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred mining tax liability</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(32.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(34.9</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(375.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(340.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Net deferred tax liability balance, end of year</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(308.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(237.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> </div> </div> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(c)</strong><span style="width:11.5pt;text-indent:0pt;display:inline-block"> </span><strong>Changes in deferred tax assets and liabilities:</strong></span></span></p> <div> <div style="margin-left:45pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td colspan="1" style="text-align:center;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="4" style="text-align:center;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Year ended December 31,</span></span></span></td> <td colspan="1" style="text-align:center;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom"> </td> </tr> <tr> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>2025</strong></span></span></td> <td style="text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></td> <td style="text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net deferred tax liability balance, beginning of year</span></span></td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(237.8</span></span></strong></td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;width:12%;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(255.3</span></span></td> <td style="vertical-align:bottom;width:2%;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax expense (note 24a)</span></span></td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(56.4</span></span></strong></td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="vertical-align:bottom;width:12%;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6.9</span></span></td> <td style="vertical-align:bottom;width:2%;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">OCI transactions</span></span></td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.7</span></span></strong></td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="vertical-align:bottom;width:12%;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.2</span></span></td> <td style="vertical-align:bottom;width:2%;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign currency translation on the deferred tax liability</span></span></td> <td style="border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;text-align:right;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(13.9</span></span></strong></td> <td style="border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:2%;text-align:left;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">27.6</span></span></td> <td style="border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Net deferred tax liability balance, end of year</span></span></td> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;text-align:right;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(308.8</span></span></strong></td> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:2%;text-align:left;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(237.8</span></span></td> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:2%;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> </div> </div> <p style="margin:0pt"> </p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="text-align:justify;margin-left:22pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(d)<span style="display:inline-block;width:10pt"> </span>Reconciliation to statutory tax rate:</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As a result of its mining operations, the Company is subject to both income and mining taxes. Generally, most expenditures incurred are deductible in computing income tax, whereas mining tax legislation, although based on a measure of profitability from carrying on mining operations, is more restrictive in respect of the deductions permitted in computing income subject to mining tax. These restrictions include costs unrelated to mining operations as well as deductions for financing expenses, such as interest and royalties. In addition, income unrelated to carrying on mining operations is not subject to mining tax.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">A reconciliation between tax expense and the product of accounting profit multiplied by the Company's statutory income tax rate for the years ended December 31, 2025 and 2024 is as follows:</span></span></p> <div> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Year ended December 31,</span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:1.5pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">2024</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Income before tax</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">912.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">251.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Statutory tax rate</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26.7%</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26.7%</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax expense at statutory rate</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">243.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">67.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effect of:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deductions related to mining taxes</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(24.2</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(16.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Adjusted income taxes</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">219.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">50.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Mining tax expense</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">76.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">50.0</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">296.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Permanent differences related to:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capital items</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other income tax permanent differences</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Withholding tax on dividends</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Impact of remeasurement on decommissioning liability</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Temporary income tax differences (recognized)/not recognized</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(5.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Recognition of previously unrecognized deferred tax assets</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Impact related to differences in tax rates in foreign operations</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">71.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">36.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Impact of changes to statutory tax rates</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effect of flow through shares</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign exchange on non-monetary items</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(15.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Impact related to tax assessments and tax return amendments</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.7</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.5</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Tax expense </strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">347.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">183.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="margin:0pt"> </p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="text-align:justify;margin-left:22pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(e)<span style="display:inline-block;width:12pt"> </span>Income tax effect of temporary differences - recognized:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2025 and 2024 are as follows:</span></span></p> <div style="margin-left:45pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">    Balance sheet</span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Deferred income tax (liability) asset</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Property, plant and equipment</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(65.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(54.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Pension obligation</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other employee benefits</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">35.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">25.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Decommissioning and restoration provision</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">19.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-capital losses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">53.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">107.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Share issuance and debt cost</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred revenue</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">11.1</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.1</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred income tax asset</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">66.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">102.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Deferred income tax liability (asset)</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Property, plant and equipment</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">526.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">451.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other employee benefits</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Decommissioning and restoration provision</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(12.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(11.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-capital losses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(158.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(116.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(10.6</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(16.4</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred income tax liability</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">343.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">305.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Net deferred income tax liability</strong></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(276.6</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(202.9</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> </div> </div> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The above reconciling items are disclosed at the tax rates that apply in the jurisdiction where they have arisen.</span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(f)<span style="display:inline-block;width:12.5pt"> </span>Income tax temporary differences - not recognized:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company has not recognized a deferred tax asset on $30.0 million of non-capital losses (December 31, 2024 - $57.2 million), $130.2 million of capital losses (December 31, 2024 - $158.7 million) and $561.6 million (December 31, 2024 - $651.3 million) of other deductible temporary differences since the realization of any related tax benefit through future taxable profits is not probable. The capital losses have no expiry dates and the other deductible temporary differences do not expire under current tax legislation.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Canadian non-capital losses were incurred between 2013 and 2025 and have a twenty-year carry forward period. The United States net operating losses incurred between 2004 and 2017 have a twenty-year carry forward period. United States net operating losses incurred between 2018 and 2025 may be carried forward indefinitely but are restricted to being applied against a maximum of 80% of taxable income.</span></span></p> <div style="margin-top:13.3333px;margin-bottom:0px"></div> <p style="text-align:justify;margin-left:22pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(g)<span style="display:inline-block;width:10.5pt"> </span>Mining tax effect of temporary differences:</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The tax effects of temporary differences that give rise to significant portions of the deferred mining tax assets and liabilities at December 31, 2025 and 2024 are as follows:</span></span></p> <div style="margin-left:45pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Canada</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Property, plant and equipment</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(40.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(40.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.8</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(26.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(27.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(86, 103, 112);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Peru</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(86, 103, 112);white-space:nowrap;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(86, 103, 112);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(86, 103, 112);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(86, 103, 112);white-space:nowrap;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(86, 103, 112);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(86, 103, 112)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Property, plant and equipment</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(5.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> </div> </div> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">For the year ended December 31, 2025, Hudbay had unrecognized deferred mining tax assets of approximately $8.8 million (December 31, 2024 - $9.1 million).</span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(h)<span style="display:inline-block;width:10pt"> </span>Unrecognized taxable temporary differences associated with investments:</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">There are no taxable temporary differences associated with investments in subsidiaries, associates and joint ventures, for which a deferred tax liability has not been recognized.</span></span></p> <p style="text-align:justify;margin-left:45pt;text-indent:-22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(i)<span style="display:inline-block;width:13pt"> </span>Taxes receivable/payable:</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The timing of payments results in significant variances in period-to-period comparisons of the tax receivable and tax payable balances.</span></span></p> <p style="text-align:justify;margin-left:45pt;text-indent:-22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(j)<span style="display:inline-block;width:12.5pt"> </span>Other disclosure:</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The tax rules and regulations applicable to mining companies are highly complex and subject to interpretation. The Company may be subject in the future to a review of its historic income and other tax filings and, in connection with such reviews, disputes can arise with tax authorities over the interpretation or application of certain tax rules and regulations in respect of the Company's business. These reviews may alter the timing or amount of taxable income or deductions. The amount ultimately reassessed upon resolution of issues raised may differ from the amount accrued.</span></span></p> </div> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Current:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Income taxes</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>209.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>119.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Mining taxes</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>83.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>57.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Adjustments in respect of prior years</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(1.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>0.2</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>291.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>176.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Deferred:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Income tax expense (recovery) - origination, revaluation and/or reversal of temporary differences</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>61.3</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>15.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Mining tax recovery - origination, revaluation and/or reversal of temporary difference</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(3.8</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(5.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Adjustments in respect of prior years</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(1.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>)</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(2.8</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>56.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.9</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>347.7</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>183.8</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 209100000 119700000 83400000 57000000 -1200000 200000 291300000 176900000 61300000 15300000 -3800000 -5600000 -1100000 -2800000 56400000 6900000 347700000 183800000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred income tax asset</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">66.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">102.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred income tax liability</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(343.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(305.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred mining tax liability</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(32.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(34.9</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #a2aaad;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(375.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(340.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Net deferred tax liability balance, end of year</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(308.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(237.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> </div> 66500000 102600000 343100000 305500000 32200000 34900000 375300000 340400000 308800000 237800000 <div> <div style="margin-left:45pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td colspan="1" style="text-align:center;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="4" style="text-align:center;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Year ended December 31,</span></span></span></td> <td colspan="1" style="text-align:center;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom"> </td> </tr> <tr> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>2025</strong></span></span></td> <td style="text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></td> <td style="text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net deferred tax liability balance, beginning of year</span></span></td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(237.8</span></span></strong></td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;width:12%;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(255.3</span></span></td> <td style="vertical-align:bottom;width:2%;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax expense (note 24a)</span></span></td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(56.4</span></span></strong></td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="vertical-align:bottom;width:12%;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6.9</span></span></td> <td style="vertical-align:bottom;width:2%;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">OCI transactions</span></span></td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.7</span></span></strong></td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="vertical-align:bottom;width:12%;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.2</span></span></td> <td style="vertical-align:bottom;width:2%;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign currency translation on the deferred tax liability</span></span></td> <td style="border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;text-align:right;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(13.9</span></span></strong></td> <td style="border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:2%;text-align:left;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">27.6</span></span></td> <td style="border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Net deferred tax liability balance, end of year</span></span></td> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;text-align:right;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(308.8</span></span></strong></td> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:2%;text-align:left;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;text-align:right"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(237.8</span></span></td> <td style="border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:2%;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> </div> </div> 237800000 255300000 -56400000 -6900000 -700000 -3200000 -13900000 27600000 308800000 237800000 <div> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Year ended December 31,</span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:1.5pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">2024</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Income before tax</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">912.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">251.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Statutory tax rate</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26.7%</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26.7%</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax expense at statutory rate</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">243.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">67.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effect of:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deductions related to mining taxes</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(24.2</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(16.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Adjusted income taxes</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">219.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">50.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Mining tax expense</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">76.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">50.0</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">296.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Permanent differences related to:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Capital items</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other income tax permanent differences</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Withholding tax on dividends</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Impact of remeasurement on decommissioning liability</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Temporary income tax differences (recognized)/not recognized</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(5.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Recognition of previously unrecognized deferred tax assets</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Impact related to differences in tax rates in foreign operations</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">71.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">36.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Impact of changes to statutory tax rates</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effect of flow through shares</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign exchange on non-monetary items</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(15.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Impact related to tax assessments and tax return amendments</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.7</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.5</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Tax expense </strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">347.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">183.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> </div> 912000000 251600000 0.267 0.267 243500000 67200000 24200000 16300000 219300000 50900000 76900000 50000000 296200000 100900000 -7400000 500000 -800000 4100000 9000000 1800000 1700000 -6500000 5400000 -8300000 2400000 0 71600000 36700000 0 -4400000 4300000 3900000 -15400000 26200000 -400000 1200000 -700000 500000 347700000 183800000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">    Balance sheet</span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Deferred income tax (liability) asset</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Property, plant and equipment</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(65.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(54.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Pension obligation</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other employee benefits</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">35.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">25.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Decommissioning and restoration provision</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">19.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-capital losses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">53.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">107.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Share issuance and debt cost</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred revenue</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">11.1</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.1</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred income tax asset</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">66.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">102.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Deferred income tax liability (asset)</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Property, plant and equipment</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">526.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">451.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other employee benefits</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Decommissioning and restoration provision</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(12.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(11.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-capital losses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(158.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(116.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(10.6</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(16.4</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred income tax liability</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">343.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">305.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Net deferred income tax liability</strong></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(276.6</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(202.9</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> </div> -65500000 -54500000 2300000 2000000 35800000 25100000 24400000 19300000 53700000 107300000 2900000 3800000 1800000 1700000 11100000 -2100000 66500000 102600000 526900000 451600000 -1700000 -1200000 -12800000 -11800000 -158700000 -116700000 -10600000 -16400000 343100000 305500000 276600000 202900000 30000000 57200000 130200000 158700000 561600000 651300000 0.80 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Canada</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Property, plant and equipment</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(40.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(40.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.8</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(26.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(27.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(86, 103, 112);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Peru</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(86, 103, 112);white-space:nowrap;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(86, 103, 112);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(86, 103, 112);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(86, 103, 112);white-space:nowrap;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(86, 103, 112);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(86, 103, 112)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Property, plant and equipment</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(5.6</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> </div> 40500000 40200000 -13900000 -12800000 26600000 27400000 5600000 7500000 8800000 9100000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#d22630"><strong>25.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Share capital</strong></span></span></span></span></span></p> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>(a)</strong><span style="width:11pt;text-indent:0pt;display:inline-block"> </span><strong>Preference shares:</strong></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Authorized: Unlimited preference shares without par value.</span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Issued and fully paid: Nil.</span></span></span></span></p> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>(b)</strong><span style="width:10.01pt;text-indent:0pt;display:inline-block"> </span><strong>Common shares: </strong></span></span></span></span></p> <p style="text-align:justify;margin-left:40.5pt;text-indent:4.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Authorized: Unlimited common shares without par value.</span></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Issued and fully paid:</span></span></span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Year ended </strong></span><br/><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended </span><br/><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Common</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">shares</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Amount</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Common</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">shares</span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">Amount</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, beginning of year</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">394,932,374</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,641.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">350,728,536</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,240.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Equity issuance, net of issuance costs</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">465,394</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">42,366,000</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">386.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Flow through shares, net of share issuance costs and implied premium</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">887,000</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">968,900</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exercise of options</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">478,755</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">482,029</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exercise of warrants</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70,708</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">386,909</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax adjustments in respect of prior years</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Balance, end of the year</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">396,834,231</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,668.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">394,932,374</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,641.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Equity issuance</span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">On June 24, 2025, the Company closed a private placement deal to issue 465,394 common shares at a price of C$13.30 per Common Share for aggregate gross proceeds of $4.5 million. Associated with the private placement were $0.3 million of share issuance costs resulting in net equity raised of $4.2 million. The net proceeds of this private placement were used to fund the $4.5 million cash consideration on closing of the acquisition of MMC's 25% interest in CMBC (note 5).</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">On May 24, 2024, the Company closed an equity financing with a syndicate of underwriters ("the Offering"). Pursuant to the Offering, the Underwriters purchased on a bought deal basis from the Company a total of 42,366,000 common shares at a price of $9.50 per Common Share for aggregate gross proceeds of $402.5 million. Transaction costs related to the Offering were $16.1 million resulting in net proceeds to the Company of $386.4 million. Associated with the Offering were $0.2 million of share issuance costs resulting in net equity raised of $386.2 million.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Flow-through share financing</span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During the year ended December 31, 2025, the Company completed a Canadian Exploration Expense ("CEE") flow-through financing. The Company issued 887,000 common shares for proceeds, net of transaction costs, of $22.6 million. The implied premium on the flow-through shares of $8.9 million was recorded as a flow-through share liability. The flow-through share liability will be recognized in earnings as eligible expenditures are made. As at December 31, 2025, $1.3 million of flow-through share liability was renounced and recognized in other expenses (note 6e) on the consolidated statements of income.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During the year ended December 31, 2024, the Company completed a Canadian Development Expense ("CDE") and CEE flow-through financing. The Company issued 968,900 common shares for proceeds, net of transaction costs, of $11.8 million. The implied premium on the flow-through shares of $3.2 million was recorded as a flow-through share liability. During the year December 31, 2025, the Company renounced the flow-through share liability recognized in 2024 pursuant to incurring qualified expenditures.</span></span></p> <div></div> <p style="text-align:justify;margin-left:45pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Dividends </span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During the year ended December 31, 2025, the Company declared two semi-annual dividends of C$0.01 per share. The Company paid $2.8 million and $2.8 million in dividends on March 21, 2025 and September 19, 2025 to shareholders of record as of March 4, 2025 and September 2, 2025.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During the year ended December 31, 2024, the Company declared two semi-annual dividends of C$0.01 per share. The Company paid $2.6 million and $2.9 million in dividends on March 22, 2024 and September 20, 2024 to shareholders of record as of March 5, 2024 and September 3, 2024.</span></span></p> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Year ended </strong></span><br/><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended </span><br/><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Common</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">shares</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Amount</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Common</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">shares</span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">Amount</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, beginning of year</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">394,932,374</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,641.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">350,728,536</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,240.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Equity issuance, net of issuance costs</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">465,394</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">42,366,000</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">386.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Flow through shares, net of share issuance costs and implied premium</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">887,000</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">968,900</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exercise of options</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">478,755</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">482,029</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exercise of warrants</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70,708</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">386,909</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax adjustments in respect of prior years</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Balance, end of the year</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">396,834,231</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,668.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">394,932,374</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,641.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> 394932374 2641300000 350728536 2240200000 465394 4200000 42366000 386200000 887000 13700000 968900 8600000 478755 4100000 482029 3600000 70708 500000 386909 2700000 4400000 396834231 2668200000 394932374 2641300000 465394 13.3 4500000 300000 4200000 4500000 0.25 42366000 9.5 402500000 16100000 386400000 200000 386200000 887000 22600000 8900000 1300000 968900 11800000 3200000 0.01 2800000 2800000 0.01 2600000 2900000 <div> <p style="margin-left:22.5pt;text-indent:-22.5pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#d22630"><strong>26.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Share-based compensation</strong></span></span></span></span></span></p> <div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>(a)<span style="display:inline-block;width:10.5pt"> </span>Cash-settled share-based compensation: </strong></span></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Hudbay has three cash-settled share-based compensation plans, as described below.</span></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><i>Deferred Share Units (DSU) </i></span></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>At December 31, 2025, the carrying amount and the intrinsic value of the outstanding liability related to the DSU plan was $21.5 million (December 31, 2024 - $12.3 million) (note 21). The following table outlines information related to DSUs granted, expenses recognized and payments made during the year.</span></span></span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;width:557px"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);width:12px"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:557px"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);width:12px"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Number of units, beginning of year</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>1,519,500</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1,571,160</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Number of units granted during the year</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>91,613</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>143,527</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Credits for dividends</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>1,896</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Number of units released/paid</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>(534,133</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(195,187</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Number of units, end of year</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>1,078,876</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1,519,500</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Weighted average price (C$/unit)</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>13.28</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>10.05</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Expenses recognized during the year¹ (notes 6c, 6d)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>13.9</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Payments made during the year (note 21)</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>5.4</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.6</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>¹This expense relates to the grant of DSUs, as well as mark-to-market adjustments, and is presented within selling and administrative expenses on the consolidated statements of income.</span></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><i>Restricted Share Units (RSU) </i></span></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>RSUs granted under the LTEP Plan may be settled in the form of Hudbay common shares or, at the option of the Company, the cash equivalent based on the market price of the common shares as of the vesting date. RSUs may also be granted under Hudbay's Share Unit Plan; however, the RSUs granted under the Share Unit Plan may only be settled in cash. Hudbay has historically settled all RSUs in cash. The Company has determined that the appropriate accounting treatment is to classify the RSUs as cash settled transactions.</span></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span><span style="font-family:Times New Roman,Times,serif">At December 31, 2025, the carrying amount of the outstanding liability related to the RSU plan was $26.1 million (December 31, 2024 - $9.6 million) (note 21). The following table outlines information related to RSUs granted, expenses recognized and payments made in the year.             </span></span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span id="page_69"></span></span></span></p> <div style="margin-left:45pt;margin-top:0pt;margin-bottom:0pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">Year ended</span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Number of units, beginning of year</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">2,223,237</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">1,787,728</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Number of units granted during the year</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">691,843</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">984,758</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Credits for dividends</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">2,714</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">4,618</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Number of units forfeited during the year</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(155,864</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(158,125</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Number of units released/paid</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(889,851</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(395,742</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Number of units, end of year </strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">1,872,079</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">2,223,237</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Weighted average price - granted (C$/unit)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">12.03</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">7.56</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Expenses recognized during the year<sup style="margin-top:0pt;margin-bottom:0pt">1</sup> (note 6c, 6d)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">20.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">6.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Payments made during the year (note 21)</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">6.3</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">2.2</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> </table> </div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹ This net expense reflects recognition of RSU expense over the service period, as well as mark-to-market adjustments, and is presented mainly within cost of sales and selling and administrative expenses. Certain amounts related to the Arizona segment are capitalized.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><i>Performance Share Units (PSU)</i></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">PSUs granted under the LTEP Plan may be settled in the form of Hudbay common shares or, at the option of the Company, the cash equivalent based on the market price of the common shares as of the vesting date. Hudbay has historically settled similar share-based compensation units in cash. The Company has determined that the appropriate accounting treatment is to classify the PSUs as cash settled transactions. The PSUs contain a performance based multiplier element which will be computed upon vesting.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">At December 31, 2025, the carrying amount of the outstanding liability related to PSU plan was $26.9 million (December 31, 2024 - $5.5 million) (note 21). The following table outlines information related to PSUs granted, expenses recognized and payments made in the year.             </span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of units, beginning of year</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>1,446,197</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,172,803</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of units granted during the year</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>426,775</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">600,572</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of units added by performance factor</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>183,152</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Credits for dividends</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2,142</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,997</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of units forfeited during the year</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(72,299</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(169,436</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of units released/paid</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(490,455</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(160,739</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>Number of units, end of year</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>1,495,512</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,446,197</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Weighted average price - granted (C$/unit)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>12.05</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.35</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Expense recognized during the year (note 6c)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>24.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Payments made during the year (note 21)</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>3.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.9</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div><span> </span> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span id="page_70"></span></span></span></p> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">(b)<span style="display:inline-block;width:10pt;margin-top:0pt;margin-bottom:0pt"> </span>Equity-settled share-based compensation</strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><i>Stock Options</i></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company's stock option plan was approved in June 2005 and amended in May 2008 (the "Plan"). Under the amended Plan, the Company may grant to employees, officers, directors or consultants of the Company or its affiliates options to purchase up to a maximum of 13 million common shares of Hudbay. The Company has determined that the appropriate accounting treatment is to classify the stock options as equity settled transactions.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During the year ended December 31, 2025, the Company granted 828,720 stock options (year ended December 31, 2024 - 902,874).</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The following table outlines the changes in the number of stock options outstanding:</span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(91, 103, 112);white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Year ended</strong></span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Number of</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">shares subject</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">to option</strong></span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Weighted-</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">average</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">exercise price</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">C$</strong></span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Number of</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">shares subject to</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">option</span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Weighted</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">average exercise</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">price C$</span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, beginning of year</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,484,107</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.42</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,182,970</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.23</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of units granted during the year</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">828,720</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.81</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">902,874</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.50</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exercised</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(478,755</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.69</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(482,029</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.56</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Forfeited</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(114,892</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.01</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(106,850</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.62</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Expired</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8,766</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.31</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(12,858</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.03</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, end of year</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,710,414</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.34</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,484,107</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.42</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The following table presents the weighted average fair value assumptions used in the Black-Scholes valuation of these options:</span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>For options granted during the year ended </strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Weighted average share price at grant date (CAD)</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.81</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.50</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Risk-free rate</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.07%</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.49%</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Expected dividend yield</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2%</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3%</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Expected stock price volatility (based on historical volatility)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">45.3%</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">51.4%</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Expected life of option (months)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">84</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">84</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Weighted average per share fair value of stock options granted (CAD)</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.39</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.11</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> <span> </span> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span id="page_71"></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">The following table outlines stock options outstanding and exercisable:</span></span></p> <div> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Range of exercise</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">prices C$</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Number of</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">options</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">outstanding</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Weighted average</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">remaining</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">contractual life</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">(years)</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Weighted average</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">exercise price C$</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Number of</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">options</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">exercisable </strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Weighted average</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">share price at</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">exercise date C$</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$3.76 - $5.26</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">292,198</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.15</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.76</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">290,732</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.76</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$5.27 - $7.13</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">503,099</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.16</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.75</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">273,014</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.75</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$7.14 - $8.71</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">687,508</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.15</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.50</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">164,283</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.50</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$8.72 - $10.60</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">459,772</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.73</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.13</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">458,500</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.13</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$10.61 - $13.50</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">767,837</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.12</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.81</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> </table> </div> <p style="margin-top:0pt;margin-bottom:0pt"> </p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Range of exercise</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">prices C$</span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Number of</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">options</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">outstanding</span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Weighted average</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">remaining contractual</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">life (years)</span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Weighted average</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">exercise price C$</span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Number of</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">options</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">exercisable </span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Weighted average</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">share price at</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">exercise date C$</span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$3.76 - $5.26</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">361,658</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.15</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.76</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">361,658</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.76</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$5.27 - $6.90</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">631,984</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.16</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.75</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">152,408</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.75</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$6.91 - $8.71</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">866,543</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.15</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.50</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$8.72 - $10.17</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">365,988</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.16</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.92</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">223,287</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.92</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$10.18 - $10.42</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">257,934</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.15</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.42</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">257,934</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.42</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay estimates expected life of options and expected volatility based on historical data, which may differ from actual outcomes.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><i>Warrants</i></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The following table outlines the changes in the number of Hudbay warrants outstanding:</span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Year ended</strong></span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Number of</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">shares subject</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">to warrants</strong></span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Weighted-</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">average exercise</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">price C$</strong></span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Number of</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">shares subject to</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">warrants</span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Weighted</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">average exercise</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">price C$</span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, beginning of year</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70,708</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.38</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">457,617</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.38</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Warrants granted</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exercised</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(70,708</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.38</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(386,909</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.38</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Expired</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, end of year</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70,708</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.38</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> </div> </div> 21500000 12300000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;width:557px"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);width:12px"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:557px"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);width:12px"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Number of units, beginning of year</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>1,519,500</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1,571,160</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Number of units granted during the year</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>91,613</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>143,527</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Credits for dividends</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>1,896</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Number of units released/paid</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>(534,133</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>)</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(195,187</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Number of units, end of year</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>1,078,876</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1,519,500</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Weighted average price (C$/unit)</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>13.28</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>10.05</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Expenses recognized during the year¹ (notes 6c, 6d)</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>13.9</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>6.3</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:557px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Payments made during the year (note 21)</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:12px;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong><span><span>5.4</span></span></strong></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.6</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> 1519500 1571160 91613 143527 1896 0 534133 195187 1078876 1519500 13.28 10.05 13900000 6300000 5400000 1600000 26100000 9600000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">Year ended</span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Dec. 31, 2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Number of units, beginning of year</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">2,223,237</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">1,787,728</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Number of units granted during the year</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">691,843</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">984,758</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Credits for dividends</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">2,714</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">4,618</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Number of units forfeited during the year</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(155,864</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(158,125</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Number of units released/paid</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(889,851</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(395,742</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Number of units, end of year </strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">1,872,079</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">2,223,237</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Weighted average price - granted (C$/unit)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">12.03</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">7.56</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Expenses recognized during the year<sup style="margin-top:0pt;margin-bottom:0pt">1</sup> (note 6c, 6d)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">20.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">6.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Payments made during the year (note 21)</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">6.3</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">2.2</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> </table> 2223237 1787728 691843 984758 2714 4618 155864 158125 889851 395742 1872079 2223237 12.03 7.56 20300000 6700000 6300000 2200000 26900000 5500000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of units, beginning of year</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>1,446,197</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,172,803</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of units granted during the year</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>426,775</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">600,572</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of units added by performance factor</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>183,152</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Credits for dividends</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2,142</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,997</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of units forfeited during the year</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(72,299</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(169,436</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:11.65pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of units released/paid</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>(490,455</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(160,739</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>Number of units, end of year</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>1,495,512</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,446,197</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Weighted average price - granted (C$/unit)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>12.05</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.35</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Expense recognized during the year (note 6c)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>24.6</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Payments made during the year (note 21)</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>3.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.9</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> 1446197 1172803 426775 600572 183152 0 2142 2997 72299 169436 490455 160739 1495512 1446197 12.05 7.35 24600000 4200000 3500000 900000 The Company's stock option plan was approved in June 2005 and amended in May 2008 (the "Plan"). Under the amended Plan, the Company may grant to employees, officers, directors or consultants of the Company or its affiliates options to purchase up to a maximum of 13 million common shares of Hudbay. The Company has determined that the appropriate accounting treatment is to classify the stock options as equity settled transactions. 13000000 828720 902874 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(91, 103, 112);white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Year ended</strong></span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Number of</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">shares subject</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">to option</strong></span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Weighted-</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">average</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">exercise price</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">C$</strong></span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Number of</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">shares subject to</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">option</span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Weighted</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">average exercise</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">price C$</span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, beginning of year</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,484,107</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.42</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,182,970</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.23</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of units granted during the year</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">828,720</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.81</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">902,874</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.50</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exercised</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(478,755</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.69</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(482,029</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.56</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Forfeited</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(114,892</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.01</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(106,850</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.62</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Expired</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8,766</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.31</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(12,858</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.03</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, end of year</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,710,414</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.34</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,484,107</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.42</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> 2484107 7.42 2182970 7.23 828720 10.81 902874 7.5 478755 7.69 482029 6.56 114892 9.01 106850 7.62 8766 8.31 12858 10.03 2710414 8.34 2484107 7.42 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>For options granted during the year ended </strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Weighted average share price at grant date (CAD)</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.81</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.50</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Risk-free rate</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.07%</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.49%</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Expected dividend yield</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2%</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3%</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Expected stock price volatility (based on historical volatility)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">45.3%</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">51.4%</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Expected life of option (months)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">84</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">84</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Weighted average per share fair value of stock options granted (CAD)</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.39</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.11</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> 10.81 7.5 0.0307 0.0349 0.002 0.003 0.453 0.514 84 84 5.39 4.11 <div> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Range of exercise</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">prices C$</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Number of</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">options</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">outstanding</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Weighted average</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">remaining</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">contractual life</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">(years)</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Weighted average</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">exercise price C$</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Number of</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">options</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">exercisable </strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Weighted average</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">share price at</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">exercise date C$</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$3.76 - $5.26</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">292,198</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.15</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.76</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">290,732</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.76</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$5.27 - $7.13</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">503,099</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.16</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.75</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">273,014</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.75</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$7.14 - $8.71</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">687,508</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.15</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.50</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">164,283</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.50</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$8.72 - $10.60</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">459,772</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.73</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.13</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">458,500</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:13%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.13</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$10.61 - $13.50</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">767,837</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.12</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.81</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> </table> </div> <p style="margin-top:0pt;margin-bottom:0pt"> </p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Range of exercise</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">prices C$</span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Number of</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">options</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">outstanding</span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Weighted average</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">remaining contractual</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">life (years)</span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Weighted average</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">exercise price C$</span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Number of</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">options</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">exercisable </span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Weighted average</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">share price at</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">exercise date C$</span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$3.76 - $5.26</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">361,658</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.15</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.76</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">361,658</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.76</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$5.27 - $6.90</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">631,984</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.16</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.75</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">152,408</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.75</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$6.91 - $8.71</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">866,543</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.15</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.50</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$8.72 - $10.17</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">365,988</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.16</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.92</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">223,287</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.92</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$10.18 - $10.42</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">257,934</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.15</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.42</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">257,934</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:13%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.42</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> </div> 3.76 5.26 292198 P1Y1M24D 3.76 290732 3.76 5.27 7.13 503099 P4Y1M28D 6.75 273014 6.75 7.14 8.71 687508 P5Y1M24D 7.5 164283 7.5 8.72 10.6 459772 P2Y8M23D 10.13 458500 10.13 10.61 13.5 767837 P6Y1M13D 10.81 0 0 3.76 5.26 361658 P2Y1M24D 3.76 361658 3.76 5.27 6.9 631984 P5Y1M28D 6.75 152408 6.75 6.91 8.71 866543 P6Y1M24D 7.5 0 0 8.72 10.17 365988 P4Y1M28D 9.92 223287 9.92 10.18 10.42 257934 P3Y1M24D 10.42 257934 10.42 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Year ended</strong></span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(255, 255, 255);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Number of</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">shares subject</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">to warrants</strong></span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Weighted-</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">average exercise</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">price C$</strong></span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(208, 211, 212);white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Number of</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">shares subject to</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">warrants</span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Weighted</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">average exercise</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">price C$</span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, beginning of year</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70,708</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.38</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">457,617</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.38</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Warrants granted</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exercised</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(70,708</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.38</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(386,909</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.38</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Expired</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Balance, end of year</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70,708</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:15%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.38</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> 70708 7.38 457617 7.38 0 0 0 0 70708 7.38 386909 7.38 0 0 0 0 0 0 70708 7.38 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#d22630"><strong>27.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Earnings per share</strong></span></span></span></span></span></p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended </span><br/><span style="color:#ffffff">December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Weighted average common shares outstanding</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Basic</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>395,521,903</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>376,785,518</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Plus net incremental shares from:</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Assumed conversion: stock options</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1,126,893</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>483,149</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Assumed conversion: warrants</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>22,544</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Diluted weighted average common shares outstanding</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>396,648,796</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>377,291,211</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> <p style="text-align:justify;margin-left:22pt;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The calculation of dilutive weighted-average number of common shares excludes the impact of 2,474 shares for the year ended December 31, 2025 (year ended December 31, 2024 - 4,127). The shares related to stock options and warrants were excluded as the exercise price related to the particular security exceeded the average market price of the Company's common shares for the period, or the inclusion of the share units had an anti-dilutive effect on net income.</span></span></span></span></p> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended </span><br/><span style="color:#ffffff">December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Weighted average common shares outstanding</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Basic</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>395,521,903</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>376,785,518</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Plus net incremental shares from:</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Assumed conversion: stock options</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1,126,893</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>483,149</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Assumed conversion: warrants</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>22,544</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Diluted weighted average common shares outstanding</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>396,648,796</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>377,291,211</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> 395521903 376785518 1126893 483149 0 22544 396648796 377291211 2474 4127 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#d22630"><strong>28.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Capital management</strong></span></span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The Company's definition of capital includes total equity and long-term debt. Hudbay's long-term debt balance as at December 31, 2025 was $1,008.6 million (December 31, 2024 - $1,107.5 million).</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The Company's objectives when managing capital are to maintain a strong capital base in order to:</span></span></span></span></p> <p style="margin-left:22.5pt;margin-bottom:0pt;text-align:justify;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-<span style="display:inline-block;width:10.0pt"> </span>Advance Hudbay's corporate strategies to create long-term value for its stakeholders; and,</span></span></span></span></p> <p style="margin-top:0pt;margin-left:22.5pt;text-align:justify;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-<span style="display:inline-block;width:10.0pt"> </span>Sustain Hudbay's operations and growth throughout metals and materials cycles.</span></span></span></span></p> <p style="margin-left:22pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Hudbay monitors its capital and capital structure on an ongoing basis to ensure they are sufficient to achieve the Company's short-term and long-term strategic objectives in a capital intensive industry. Hudbay faces several risks, including volatile metals prices, inflationary pressures on costs, access to capital, and risk of delays and cost escalation associated with major capital projects. The Company continually assesses the adequacy of its capital structure to ensure its objectives are met. Hudbay monitors its cash, which was $568.9 million as at December 31, 2025 (2024 - $541.8 million), together with availability under its committed credit facilities. Hudbay invests its cash primarily in Canadian bankers' acceptances, deposits at major Canadian and Peruvian banks, or treasury bills issued by the federal or provincial governments. In addition to the requirement to maintain sufficient cash balances to fund continuing operations, Hudbay must maintain sufficient cash to fund the interest expense on the long-term debt outstanding (note 19). As part of the Company's capital management activities, Hudbay monitors interest coverage ratios and leverage ratios.</span></span></span></span></p> </div> 1008600000 1107500000 568900000 541800000 <div> <p style="margin-left:22.5pt;text-indent:-22.5pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#d22630"><strong>29.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Financial instruments</strong></span></span></span></p> <div> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(a)</strong><span style="width:11.5pt;text-indent:0pt;display:inline-block"> </span><strong>Fair value and carrying value of financial instruments:</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The following presents the fair value ("FV") and carrying value ("CV") of Hudbay's financial instruments and non-financial derivatives:</span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><strong>FV</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><strong>CV</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>FV</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>CV</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial assets at amortized cost</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash and cash equivalents¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">568.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">568.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">541.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">541.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Short-term investments¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">40.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">40.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Collateral deposits¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Restricted cash¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Fair value through profit or loss</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other receivables^2,3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">347.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">347.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">185.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">185.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivative assets ⁴</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Investments at fair value through profit or loss ⁵</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">130.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">130.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.1</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.1</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Total financial assets</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,048.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,048.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">794.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">794.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial liabilities at amortized cost</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other payables^1, ²</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">330.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">330.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">255.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">255.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred Copper Mountain acquisition consideration⁶</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Contingent Copper Mountain acquisition consideration⁶</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Agreements with communities ⁷</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">107.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">105.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">68.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Wheaton refund liability⁸</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Senior unsecured notes ⁹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,022.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,010.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,111.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,111.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Senior secured revolving credit facilities¹⁰</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Fair value through profit or loss</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.9pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivative liabilities ⁴</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">31.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">31.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Total financial liabilities</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,535.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,516.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,443.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,438.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:2%"> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td colspan="13" style="vertical-align:bottom;text-align:justify;width:0px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹Cash and cash equivalents, short-term investments, collateral deposits, restricted cash, trade and other payables are recorded at carrying value, which approximates fair value due to their short-term nature and generally negligible credit losses.</span></span></td> </tr> <tr> <td colspan="13" style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">²Excludes tax and other statutory amounts.</span></span></td> </tr> <tr> <td colspan="13" style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">³ Trade and other receivables contain receivables including provisionally priced receivables classified as FVTPL and various other items at amortized cost. The fair value of provisionally priced receivables is determined using forward metals prices (level 2).</span></span></td> </tr> <tr> <td colspan="13" style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">⁴Derivatives are carried at their fair value, which is determined based on observable forward market commodity prices corresponding to the maturity of the contract (level 2),</span></span></td> </tr> <tr> <td colspan="13" style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">⁵All investments are carried at their fair value, which is determined using quoted market bid prices in active markets for listed shares.</span></span></td> </tr> <tr> <td colspan="13" style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">⁶Fair value of the deferred and contingent Copper Mountain acquisition consideration has been determined using an applicable credit-risk adjusted discount rate (level 3).</span></span></td> </tr> <tr> <td colspan="13" style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">⁷These financial liabilities relate to agreements with communities near the Constancia mine in Peru (note 17). Fair values have been determined using an applicable credit-risk adjusted discounted rate and foreign exchange rates (level 3).</span></span></td> </tr> <tr> <td colspan="13" style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">⁸ Discounted value based on a market rate at inception of the applicable Wheaton contract for carrying value (note 17) and fair value using an applicable credit-risk adjusted discount rate (level 3).</span></span></td> </tr> <tr> <td colspan="13" style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">⁹Fair value of the senior unsecured notes (note 19a) has been determined using an applicable credit-risk adjusted discount rate (level 3).</span></span></td> </tr> <tr> <td colspan="13" style="vertical-align:bottom;text-align:justify;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><sup style="margin-top:0pt;margin-bottom:0pt">10 </sup>Fair value of the senior secured revolving credit facility, when drawn, is valued using an applicable credit adjusted discount rate (level 3).</span></span></td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt"> </p> </div> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="text-align:justify;margin-left:45pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="text-decoration:underline;margin-top:0pt;margin-bottom:0pt">Fair value hierarchy</span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The table below provides an analysis by valuation method of financial instruments that are measured at fair value subsequent to recognition as well as financial instruments not measured at fair value but for which a fair value is disclosed. Levels 1 to 3 are defined based on the degree to which fair value inputs are observable and have a significant effect on the recorded fair value, as follows:</span></span></p> <p style="text-align:justify;margin-left:70pt;margin-bottom:0pt;text-indent:-12pt;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:9.5pt"> </span>Level 1: Quoted prices in active markets for identical assets or liabilities;</span></span></p> <p style="text-align:justify;margin-left:70pt;margin-bottom:0pt;margin-top:0pt;text-indent:-12pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:9.5pt"> </span>Level 2: Valuation techniques use significant observable inputs, either directly or indirectly, or valuations are based on quoted prices for similar instruments; and,</span></span></p> <p style="text-align:justify;margin-left:70pt;margin-top:0pt;text-indent:-12pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:9.5pt"> </span>Level 3: Valuation techniques use significant inputs that are not based on observable market data.</span></span></p> <div> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(86, 103, 112);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff"><strong>December 31, 2025</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff"><strong>Level 1</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff"><strong>Level 2</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff"><strong>Level 3</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff"><strong>Total</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial assets at FVTPL:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Provisionally priced receivables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">302.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">302.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivatives</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Investments</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">127.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.0</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">130.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">127.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">302.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">433.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial liabilities at FVTPL:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivatives</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">31.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">31.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial liabilities at amortized cost:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred Copper Mountain acquisition consideration</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Contingent Copper Mountain acquisition consideration</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Agreements with communities</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">107.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">107.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Wheaton refund liability</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Senior unsecured notes</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,022.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,022.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,022.7</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">31.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">152.7</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,207.3</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> </table> </div> <p style="margin-top:0pt;margin-bottom:0pt"> </p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>December 31, 2024</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Level 1</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Level 2</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Level 3</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Total</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial assets at FVTPL:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Provisionally priced receivables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">171.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">171.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivatives</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Investments</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.6</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.5</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.1</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;border-bottom:0.75pt solid rgb(162, 170, 173);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;border-bottom:0.75pt solid rgb(162, 170, 173);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">185.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;border-bottom:0.75pt solid rgb(162, 170, 173);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;border-bottom:0.75pt solid rgb(162, 170, 173);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">197.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial liabilities at FVTPL:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivatives</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial liabilities at amortized cost:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Agreements with communities</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Wheaton refund liability</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Senior unsecured notes</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,111.6</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,111.6</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,111.6</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">80.3</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,192.2</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company's policy is to recognize transfers into and transfers out of fair value hierarchy levels as of the date of the event or change in circumstances that caused the transfer. During the year ended December 31, 2025 and year ended December 31, 2024, Hudbay did not make any such transfers.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Valuation techniques used for instruments categorized in Levels 2 and 3 are consistent with the year ended December 31, 2024.</span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span id="page_75"></span></span></span></p> <div></div> <p style="margin-left:45pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(b)</strong><span style="width:11.01pt;text-indent:0pt;display:inline-block"> </span><strong>Derivatives and hedging:</strong></span></span></p> <p style="margin-left:36pt;text-indent:9pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Copper fixed for floating swaps</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay enters into copper fixed for floating swaps in order to manage the risk associated with provisional pricing terms in copper concentrate sales agreements. As at December 31, 2025, Hudbay had 57.9 million pounds of net copper swaps outstanding at an effective average price of $5.18/lb and settling from January to May 2026. As at December 31, 2024, Hudbay had 61.7 million pounds of net copper swaps outstanding at an effective average price of $4.19/lb and settling from January to May 2025. The aggregate fair value of the transactions at December 31, 2025 was a net liability of $26.4 million (December 31, 2024 - an asset position of $13.7 million).</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Gold fixed for floating swaps</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During the year ended December 31, 2025, Hudbay entered into gold fixed for floating swaps to manage the risk associated with provisional pricing terms on concentrate shipments. As at December 31, 2025, Hudbay had 23,180 ounces of net gold swaps outstanding at an effective average price of $4,333/ounce and settling from January to February 2026. The aggregate fair value of the position at December 31, 2025 was a net liability of $4.9 million.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Zinc fixed for floating swaps</span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay enters into zinc fixed for floating swaps in order to manage the risk associated wi<span style="background-color:#ffffff">th provisional pricing terms in zinc concentrate sales agreements.</span> As at December 31, 2025, Hudbay had 7.3 million pounds of net zinc swaps outstanding at an effective average price of $1.40/lb and settling in January 2026. As at December 31, 2024, Hudbay had 9.7 million pounds of net zinc swaps outstanding at an effective average price of $1.38/lb and settling from January to April 2025. The aggregate fair value of the transactions at December 31, 2025 was nil (December 31, 2024 - an asset position of $0.3 million).</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Copper forward sales</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As at December 31, 2025, Hudbay had nil pounds of copper forwards outstanding. As at December 31, 2024, Hudbay had 5.3 million pounds of copper forwards outstanding at an effective average price of $3.95/lb and settling from January to April 2025. The aggregate fair value of the transactions at December 31, 2025 was nil (December 31, 2024 - a liability position of $0.1 million).</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Copper costless collars</span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As at December 31, 2025, Hudbay had nil pounds of copper collars outstanding. As at December 31, 2024, Hudbay had 6.6 million pounds of copper collars outstanding settling from January to April 2025 at an average floor price of $3.88/lb and an average cap price of $4.14/lb. The aggregate fair value of the position at December 31, 2025 was nil (December 31, 2024 - an asset position of $0.1 million).</span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(c)</strong><span style="width:11.5pt;text-indent:0pt;display:inline-block"> </span><strong>Provisionally priced receivables</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Changes in fair value of provisionally priced receivables</span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay records changes in fair value of provisionally priced receivables related to provisional pricing in concentrate purchase, concentrate sale and certain other sale contracts. Under the terms of these contracts, prices are subject to final adjustment at the end of a future period after title transfers based on quoted market prices during the quotation period specified in the contract. The period between provisional pricing and final pricing is typically up to three months.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Changes in fair value of provisionally priced receivables are presented in trade and other receivables when they relate to sales contracts and in trade and other payables when they relate to purchase contracts. At each reporting date, provisionally priced metals are marked-to-market based on the forward market price for the quotation period stipulated in the contract, with changes in fair value recognized in revenue for sales contracts and in inventory or cost of sales for purchase concentrate contracts. Cash flows related to changes in fair value of provisionally priced receivables are classified in operating activities.</span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span id="page_76"></span></span></span></p> <div></div> <p style="text-align:justify;margin-left:45pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As at December 31, 2025 and December 31, 2024, Hudbay's net position consisted of contracts awaiting final pricing are as indicated below:</span></span></p> <div style="margin-left:45pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td rowspan="2" style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>Metal in<br/>concentrate</strong></span></span></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff">Sales awaiting final pricing </span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff">Average YTD price ($/unit)</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770">Unit</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Copper</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><i>pounds (in 000s) </i></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">65,791</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">85,731</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.64</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.96</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Gold</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><i>troy ounces</i></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">33,222</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">47,075</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,340</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,638</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Silver</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><i>troy ounces</i></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">85,337</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">238,149</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70.22</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">29.02</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Zinc</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><i>pounds (in 000s)</i></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8,365</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12,102</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.40</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.34</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #a2aaad"> </td> </tr> </table> </div> </div> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The aggregate fair value of provisionally priced receivables within the copper and zinc concentrate at December 31, 2025 was an asset positi<span style="background-color:#ffffff">on </span>of $40.9 million<span style="color:#ff0000;background-color:#ffffff"> </span>(December 31, 2024 - a liability position of $13.9 million).</span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(d)<span style="display:inline-block;width:10pt"> </span>Financial risk management</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay's financial risk management activities are governed by Board-approved policies addressing risk identification, hedging authorization procedures and limits and reporting. The Company's policy objective, when hedging activities are undertaken, is to reduce the volatility of future profit and cash flow within the strategic and economic goals of Hudbay. From time to time, the Company employs derivative financial instruments, including forward and option contracts, to manage risk originating from exposures to commodity price risk, foreign exchange risk and interest rate risk. Significant derivative transactions are approved by the Board of Directors, and hedge accounting is applied when certain criteria have been met. Hudbay does not use derivative financial instruments for trading or speculation purposes. The following is a discussion of the Company's risk exposures.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(i) Market risk</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Market risk is the risk that changes in market prices, including foreign exchange rates, commodity prices, share prices, and interest rates will cause fluctuations in the fair value or future cash flows of a financial instrument.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline"><i>Foreign currency risk</i></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay's primary exposure to foreign currency risk arises from:</span></span></p> <p style="margin-left:72pt;text-indent:-27pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:24pt"> </span>Translation of Canadian dollar denominated costs and, to a lesser extent, Peruvian soles cost into US dollars. Substantially all of the Company's revenue are denominated in US dollars, while the majority of its operating costs are denominated in either the Canadian dollar or Peruvian sol. Generally, with gross profit, appreciation of the US dollar relative to the Canadian dollar will increase Hudbay's profit.</span></span></p> <p style="margin-left:72pt;text-indent:-27pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:24pt"> </span>Translation of foreign currency denominated cash, trade and other receivables, trade and other payables, as well as other financial liabilities. Appreciation of the US dollar relative to a foreign currency will decrease the net asset value of these balances once they have been translated to US dollars, resulting in foreign currency translation losses on foreign currency denominated assets and gains on foreign currency denominated liabilities.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Manitoba and British Columbia segment's primary financial instrument foreign currency exposure is on US denominated cash, trade and other receivables and other financial liabilities. The Peru segment's primary financial instrument foreign currency exposure is on Peruvian soles cash, trade and other payables and other financial liabilities.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">The Company's economic exposure to foreign currency risk was as follows based on notional financial instrument amounts stated in US equivalent dollars:</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;vertical-align:bottom;background-color:#5b6770"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"> </td> <td colspan="7" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"> </td> <td colspan="7" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>CAD</strong>^{<strong>1</strong>}</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>USD</strong>^{<strong>2</strong>}</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>PEN</strong>^{<strong>3</strong>}</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770">CAD¹</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770">USD²</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770">PEN³</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">36.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other receivables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">145.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">116.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Restricted cash</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other financial assets</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">98.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other payables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(25.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(5.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(15.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other financial liabilities</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(105.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.3</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(68.4</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">99.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">172.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(119.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">121.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(80.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="19" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify;width:0px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹HMI is exposed to foreign currency risk on CAD.</span></span></td> </tr> <tr> <td colspan="19" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">²The Manitoba and British Columbia segments are exposed to foreign currency risk on USD.</span></span></td> </tr> <tr> <td colspan="19" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">³The Peru segment is exposed to foreign currency risk on PEN.</span></span></td> </tr> </table> </div> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The following sensitivity analysis for foreign currency risk relates solely to financial instruments and non-financial derivatives that were outstanding as at the year-end date; each sensitivity calculation assumes all other variables are held constant. This analysis is based on values as at December 31, 2025 and does not reflect the overall effect that changes in market variables would have on the Company's operating results.</span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span><span><span style="color:#ffffff"><strong>December 31, 2025</strong></span></span></span></span></span></span></span></span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span><span><span style="color:#ffffff"><strong>Change of:</strong></span></span></span></span></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap;width:22%"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Would have changed</strong></span></span></span></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">2025 after-tax earnings</strong></span></span></span></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">by:</strong></span></span></span></span></span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>USD/CAD exchange rate¹</span></span></span></span></span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:center;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>+ 10%</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>$</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>1.2</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>USD/CAD exchange rate¹</span></span></span></span></span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;text-align:center;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>-10%</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>(1.4</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>USD/PEN exchange rate²</span></span></span></span></span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;text-align:center;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>+ 10%</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>7.0</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>USD/PEN exchange rate²</span></span></span></span></span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:center;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>-10%</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:22%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>(8.6</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;background-color:#566770"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span><span><span style="color:#ffffff"><strong>December 31, 2024</strong></span></span></span></span></span></span></span></span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;background-color:#566770"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span><span><span style="color:#ffffff"><strong>Change of:</strong></span></span></span></span></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-bottom:1.5pt solid #a2aaad;background-color:#566770"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:22%;border-bottom:1.5pt solid #a2aaad;background-color:#566770;text-align:left"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Would have changed</strong></span></span></span></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">2024 after-tax earnings</strong></span></span></span></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">by:</strong></span></span></span></span></span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;border-bottom:1.5pt solid #a2aaad;background-color:#566770"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">USD/CAD exchange rate¹</span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">+ 10%</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">USD/CAD exchange rate¹</span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-10%</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">USD/PEN exchange rate²</span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">+ 10%</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">USD/PEN exchange rate²</span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-10%</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6.2</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="5" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify;width:0px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹Effect on profit due to foreign currency remeasurements of balances denominated in a currency different from a Hudbay subsidiary's functional currency.</span></span></td> </tr> <tr> <td colspan="5" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">²Effect on profit due to foreign currency remeasurement of balances denominated in Peruvian Sol.</span></span></td> </tr> </table> </div> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline"><i>Commodity price risk</i></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay is exposed to market risk from prices for the commodities the Company produces and sells, such as copper, zinc, gold and silver. From time to time, Hudbay maintains price protection programs and conducts commodity price risk management through the use of derivative contracts. The following sensitivity analysis for commodity price risk relates solely to financial instruments and non-financial derivatives that were outstanding as at the year-end date; each sensitivity calculation assumes all other variables are held constant. This analysis is based on values as at December 31, 2025 and does not reflect the overall effect that changes in market variables would have on the Company's operating results.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <div style="margin-left:45pt;margin-top:0pt;margin-bottom:0pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">December 31, 2025</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:center;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:center;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Change of:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:center;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Would have changed 2025 after-tax earnings by:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Copper prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:center;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">+</strong></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(208, 211, 212);width:12%;text-align:center"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$0.30</span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:center;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;background-color:rgb(208, 211, 212);width:22%;margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">1.4</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Copper prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:center;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">-</strong></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(208, 211, 212);width:12%;text-align:center"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$0.30</span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:center;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;background-color:rgb(208, 211, 212);width:22%;margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(1.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Gold prices ($/oz)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">+</strong></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$300</span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">1.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Gold prices ($/oz)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">-</strong></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$300</span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(1.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Zinc prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">+</strong></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$0.10</strong></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">0.5</strong></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Zinc prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:1%;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">-</strong></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$0.10</strong></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:22%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">(0.5</strong></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap;background-color:#5b6770"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">December 31, 2024</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:1%;white-space:nowrap;background-color:#5b6770"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;white-space:nowrap;background-color:rgb(91, 103, 112);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Change of:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:2%;white-space:nowrap;background-color:#5b6770"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;text-align:left;width:1%;white-space:nowrap;background-color:#5b6770"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:22%;white-space:nowrap;background-color:rgb(91, 103, 112);text-align:left"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Would have changed</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">2024 after-tax earnings</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">by:</strong></span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;text-align:left;width:2%;white-space:nowrap;background-color:#5b6770"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Copper prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">+</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$0.30</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:22%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">3.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Copper prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">-</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$0.30</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(3.5</span></span></td> <td style="vertical-align:bottom;text-align:left;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Gold prices ($/oz)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">+</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$300</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Gold prices ($/oz)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">-</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$300</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Zinc prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">+</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$0.10</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">0.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Zinc prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:1%"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">-</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$0.10</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:22%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(0.1</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td colspan="7" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify;width:0px"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><sup style="margin-top:0pt;margin-bottom:0pt">1</sup> Effect on profit due to provisional pricing derivatives (note 29c) and derivative contracts (note 29b).</span></span></td> </tr> </table> </div> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline"><i>Share price risk </i></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay is exposed to market risk from share prices of the Company's investments in publicly listed metals and mining entities. These investments are made to foster strategic relationships, in connection with joint venture agreements and for investment purposes. Management monitors the value of these investments for the purposes of determining whether to add or reduce Hudbay's positions. The following sensitivity analysis of share price risk relates solely to financial instruments that were outstanding as at the year-end date. This analysis is based on values as at December 31, 2025 and does not reflect the overall effect that changes in market variables would have on the Company's finance expenses.</span></span></p> <div style="margin-left:45pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0)"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>December 31, 2025</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Change of:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);width:22%"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Would have changed 2025 after-</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">tax earnings by:</strong></span></span></span></span></span></p> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Share prices</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>+</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>25%</span></span></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:22%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>32.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Share prices</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>25%</span></span></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:22%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(32.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(91, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>December 31, 2024</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(91, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;background-color:rgb(91, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Change of:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:rgb(91, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(91, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:22%;background-color:rgb(91, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Would have changed 2024 after-tax earnings by:</strong></span></span></span></span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:rgb(91, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Share prices</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">+</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:right;vertical-align:bottom;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">25%</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.0</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Share prices</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">25%</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.0</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> </div> </div> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline"><i>Interest rate risk</i></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay is exposed to the following interest rate risks:</span></span></p> <p style="margin-left:45pt;margin-bottom:0pt;text-align:justify;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:25.0pt"> </span>cash flow interest rate risk on its cash and cash equivalents; and,</span></span></p> <p style="margin-top:0pt;margin-left:45pt;text-align:justify;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:25.0pt"> </span>interest rate risk on its senior secured revolving credit facilities.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The only relevant risks at December 31, 2025 is interest rate risk on cash and short-term investments. The revolving credit facilities remain undrawn as at December 31, 2025. Neither the 2026 Notes nor the 2029 Notes contain embedded derivatives that require bifurcation from the host contract.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As at December 31, 2025 and 2024, the interest rate risk relates to cash on hand and short-term investments.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:45pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">This analysis only quantifies the impact of the interest rate risk on cash and short-term investments based on balances held as at December 31, 2025 and 2024 and does not reflect the overall effect that changes in market variables would have on the Company's finance expenses.</span></span></p> <div style="margin-left:45pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0)"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>December 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:justify"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Change of:</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:justify"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173)"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;width:22%;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Would have changed 2025 after-tax earnings by:</strong></span></span></span></span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Interest rates</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>+</strong></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.00%</span></span></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;width:22%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>8.3</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Interest rates</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>-</strong></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.00%</span></span></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:22%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(8.3</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(91, 103, 112);text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>December 31, 2024</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(91, 103, 112)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(91, 103, 112);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Change of:</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(91, 103, 112)"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(91, 103, 112)"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:22%;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(91, 103, 112);text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Would have changed 2024 after-tax earnings by:</strong></span></span></span></span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(91, 103, 112)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Interest rates</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">+</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.00%</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Interest rates</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>-</strong></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.00%</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.5</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> </div> </div> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(ii) Credit risk</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Credit risk is the risk of financial loss to Hudbay if a customer or counterparty to a financial instrument fails to meet its obligations. The Company's maximum exposure to credit risk at the reporting date is represented by the carrying amount, net of any impairment losses recognized, of financial assets and non-financial derivative assets recorded on the consolidated balance sheets.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">A large portion of Hudbay's cash are on deposit with major Schedule 1 Canadian banks. Deposits with Schedule 1 Canadian banks represented 92% of total cash as at December 31, 2025 (2024 - 87%). Hudbay's investment policy requires it to comply with a list of approved investments, concentration and maturity limits, as well as credit quality. Credit concentrations in the Company's short-term investments are monitored on an ongoing basis.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Transactions involving derivatives are with counterparties Hudbay believes to be creditworthy.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">At December 31, 2025, 43% of Hudbay's trade receivables were secured by letters of credit (2024 - 36% were insured or payable by letters of credit). Any additional exposure to credit risk is monitored and approved on an ongoing basis. Expected credit losses on trade and other receivables at December 31, 2025 and December 31, 2024, are insignificant.</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Two customers accounted for approximately 23% and 21% <span style="background-color:#ffffff">of</span> total trade receivables as at December 31, 2025 (2024 - two customers accounted for approximately 39% and 28% of total trade receivables). Credit risk for these customers is assessed as low. As at December 31, 2025, none of the Company's trade receivables were aged more than 30 days past the due date (2024 - nil).</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(iii) Liquidity risk</span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Liquidity risk is the risk that the Company will not be able to meet its obligations associated with financial liabilities. Hudbay's objective is to maintain sufficient liquid resources to meet operational and investing requirements.</span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">The following summarizes the contractual undiscounted cash flows of the Company's non-derivative and derivative financial liabilities, including any interest payments, by remaining contractual maturity and financial assets used to manage liquidity risk. The table includes all instruments held at the reporting date for which payments had been contractually agreed at the reporting date. The undiscounted amounts shown are gross amounts, unless the liabilities will be settled net. Amounts in foreign currency are translated at the closing rate at the reporting date. When a counterparty has a choice of when an amount is paid, the liability is allocated to the earliest possible time period.</span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-top:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Carrying</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">amount</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Contractual</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">cash flows</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Less than</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">1 Year</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>1 - 3 Years</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>3 -5 Years</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">More than</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">5 Years</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Assets used to manage liquidity risk</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">568.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">568.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">568.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Restricted cash</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other receivables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">347.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">347.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">347.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivative assets</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">917.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">917.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">917.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Non-derivative financial liabilities</span></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other payables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(330.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(330.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(330.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred Copper Mountain acquisition consideration</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(17.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(21.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Contingent Copper Mountain acquisition consideration</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(13.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(18.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(11.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Agreements with communities ¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(105.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(136.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(67.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(12.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(9.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(48.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Senior unsecured notes</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,010.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,141.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(516.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(66.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(559.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Wheaton refund liability</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(79.2</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(79.2</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,486.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,728.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(916.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(84.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(581.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(144.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Derivative financial liabilities</span></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non hedge derivative contracts</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="19" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify;width:0px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹ Represents the Peru community agreement obligation, excluding interest.</span></span></td> </tr> </table> </div> <p style="margin-top:0pt;margin-bottom:0pt"> </p> <div style="margin-left:45pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">Carrying</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">amount</span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">Contractual</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">cash flows</span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">Less than</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">1 Year</span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">1 - 3 Years</span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">3 -5 Years</span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">More than</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">5 Years</span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Assets used to manage liquidity risk</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">541.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">541.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">541.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Short-term investments</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">40.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">40.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">40.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Collateral deposits</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Restricted cash</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other receivables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">185.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">185.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">185.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivative assets</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">782.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">782.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">782.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Non-derivative financial liabilities</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other payables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(255.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(255.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(255.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Agreements with communities ¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(68.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(99.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(26.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(17.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(47.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Senior unsecured notes</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,111.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,305.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(59.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(654.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(592.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Wheaton refund liability</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(79.2</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(79.2</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,442.0</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,739.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(340.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(671.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(600.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(126.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Derivative financial liabilities</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non hedge derivative contracts</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="19" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify;width:0px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹ Represents the Peru community agreement obligation, excluding interest.</span></span></td> </tr> </table> </div> </div> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><strong>FV</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><strong>CV</strong></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>FV</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>CV</span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial assets at amortized cost</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash and cash equivalents¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">568.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">568.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">541.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">541.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Short-term investments¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">40.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">40.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Collateral deposits¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Restricted cash¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Fair value through profit or loss</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other receivables^2,3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">347.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">347.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">185.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">185.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivative assets ⁴</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:9.4pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Investments at fair value through profit or loss ⁵</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">130.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">130.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.1</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.1</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Total financial assets</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,048.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,048.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">794.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">794.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial liabilities at amortized cost</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other payables^1, ²</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">330.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">330.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">255.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">255.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred Copper Mountain acquisition consideration⁶</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Contingent Copper Mountain acquisition consideration⁶</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Agreements with communities ⁷</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">107.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">105.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">68.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Wheaton refund liability⁸</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Senior unsecured notes ⁹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,022.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,010.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,111.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,111.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.15pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Senior secured revolving credit facilities¹⁰</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Fair value through profit or loss</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:7.9pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivative liabilities ⁴</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">31.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">31.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Total financial liabilities</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,535.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,516.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,443.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;border-bottom:1.5pt solid #a2aaad;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,438.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;border-bottom:1.5pt solid #a2aaad;width:2%"> </td> </tr> </table> 568900000 568900000 541800000 541800000 0 0 40000000 40000000 0 0 600000 600000 200000 200000 400000 400000 347600000 347600000 185500000 185500000 600000 600000 14300000 14300000 130900000 130900000 12100000 12100000 1048200000 1048200000 794700000 794700000 330500000 330500000 255200000 255200000 17500000 17400000 0 0 14100000 13900000 0 0 107200000 105900000 70400000 68400000 13900000 7900000 9900000 7300000 1022700000 1010900000 1111600000 1111100000 -2300000 -2300000 -3600000 -3600000 31900000 31900000 300000 300000 1535500000 1516100000 1443800000 1438700000 <div> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(86, 103, 112);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff"><strong>December 31, 2025</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff"><strong>Level 1</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff"><strong>Level 2</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff"><strong>Level 3</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff"><strong>Total</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial assets at FVTPL:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Provisionally priced receivables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">302.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">302.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivatives</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Investments</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">127.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.0</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">130.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">127.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">302.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">433.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial liabilities at FVTPL:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivatives</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">31.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">31.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial liabilities at amortized cost:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred Copper Mountain acquisition consideration</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Contingent Copper Mountain acquisition consideration</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Agreements with communities</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">107.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">107.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Wheaton refund liability</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Senior unsecured notes</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,022.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,022.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,022.7</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">31.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">152.7</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,207.3</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> </table> </div> <p style="margin-top:0pt;margin-bottom:0pt"> </p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>December 31, 2024</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Level 1</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Level 2</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Level 3</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Total</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial assets at FVTPL:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Provisionally priced receivables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">171.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">171.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivatives</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Investments</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.6</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.5</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.1</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;border-bottom:0.75pt solid rgb(162, 170, 173);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;border-bottom:0.75pt solid rgb(162, 170, 173);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">185.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;border-bottom:0.75pt solid rgb(162, 170, 173);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;border-bottom:0.75pt solid rgb(162, 170, 173);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:12%;border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">197.7</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial liabilities at FVTPL:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivatives</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial liabilities at amortized cost:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Agreements with communities</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Wheaton refund liability</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Senior unsecured notes</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,111.6</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,111.6</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,111.6</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">80.3</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,192.2</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> </div> 0 302200000 0 302200000 0 600000 0 600000 127900000 0 3000000 130900000 127900000 302800000 3000000 433700000 0 31900000 0 31900000 0 0 17500000 17500000 0 0 14100000 14100000 0 0 107200000 107200000 0 0 13900000 13900000 1022700000 0 0 1022700000 1022700000 31900000 152700000 1207300000 0 171300000 0 171300000 0 14300000 0 14300000 10600000 0 1500000 12100000 10600000 185600000 1500000 197700000 0 300000 0 300000 0 0 70400000 70400000 0 0 9900000 9900000 1111600000 0 0 1111600000 1111600000 300000 80300000 1192200000 57900000 5.18 61700000 4.19 26400000 13700000 23180 4333 4900000 7300000 1.4 9700000 1.38 0 300000 0 5300000 3.95 0 100000 0 6600000 3.88 4.14 0 100000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td rowspan="2" style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>Metal in<br/>concentrate</strong></span></span></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff">Sales awaiting final pricing </span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff">Average YTD price ($/unit)</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770">Unit</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad;text-align:center;border-top:0.75pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770">Dec. 31, 2024</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Copper</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><i>pounds (in 000s) </i></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">65,791</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">85,731</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.64</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.96</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Gold</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><i>troy ounces</i></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">33,222</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">47,075</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,340</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,638</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Silver</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><i>troy ounces</i></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">85,337</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">238,149</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70.22</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">29.02</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Zinc</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><i>pounds (in 000s)</i></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8,365</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12,102</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.40</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #a2aaad"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-bottom:0.75pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.34</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;border-bottom:0.75pt solid #a2aaad"> </td> </tr> </table> </div> 65791000 85731000 5.64 3.96 33222 47075 4340 2638 85337 238149 70.22 29.02 8365000 12102000 1.4 1.34 40900000 13900000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;border-top:1.5pt solid #a2aaad;vertical-align:bottom;background-color:#5b6770"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"> </td> <td colspan="7" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"> </td> <td colspan="7" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#ffffff">Dec. 31, 2024</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>CAD</strong>^{<strong>1</strong>}</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>USD</strong>^{<strong>2</strong>}</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770"><strong>PEN</strong>^{<strong>3</strong>}</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770">CAD¹</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770">USD²</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:center"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span style="color:#5b6770">PEN³</span></span></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">36.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other receivables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.1</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">145.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">116.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Restricted cash</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other financial assets</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">98.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other payables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(25.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(5.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(15.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other financial liabilities</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(105.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.3</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(68.4</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">99.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">172.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(119.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">121.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(80.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> 8800000 36600000 10700000 6400000 13900000 3800000 100000 145700000 1000000 100000 116400000 400000 0 0 0 200000 0 0 98700000 0 0 12100000 0 0 8600000 2200000 25000000 5700000 1900000 15900000 0 7900000 105900000 0 7300000 68400000 99000000 172200000 -119200000 13100000 121100000 -80100000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span><span><span style="color:#ffffff"><strong>December 31, 2025</strong></span></span></span></span></span></span></span></span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;background-color:#566770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span><span><span style="color:#ffffff"><strong>Change of:</strong></span></span></span></span></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap;width:22%"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Would have changed</strong></span></span></span></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">2025 after-tax earnings</strong></span></span></span></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">by:</strong></span></span></span></span></span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>USD/CAD exchange rate¹</span></span></span></span></span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:center;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>+ 10%</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>$</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>1.2</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>USD/CAD exchange rate¹</span></span></span></span></span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;text-align:center;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>-10%</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>(1.4</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>USD/PEN exchange rate²</span></span></span></span></span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;text-align:center;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>+ 10%</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>7.0</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>USD/PEN exchange rate²</span></span></span></span></span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:center;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>-10%</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:22%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>(8.6</span></span></span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;background-color:#566770"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span><span><span style="color:#ffffff"><strong>December 31, 2024</strong></span></span></span></span></span></span></span></span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;background-color:#566770"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span><span><span><span style="color:#ffffff"><strong>Change of:</strong></span></span></span></span></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-bottom:1.5pt solid #a2aaad;background-color:#566770"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:22%;border-bottom:1.5pt solid #a2aaad;background-color:#566770;text-align:left"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Would have changed</strong></span></span></span></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">2024 after-tax earnings</strong></span></span></span></span></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">by:</strong></span></span></span></span></span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;border-bottom:1.5pt solid #a2aaad;background-color:#566770"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">USD/CAD exchange rate¹</span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">+ 10%</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">USD/CAD exchange rate¹</span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-10%</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">USD/PEN exchange rate²</span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">+ 10%</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">USD/PEN exchange rate²</span></span></td> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-10%</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6.2</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> 0.10 1200000 0.10 -1400000 0.10 7000000 0.10 -8600000 0.10 6000000 0.10 -7400000 0.10 4400000 0.10 -6200000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">December 31, 2025</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:center;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:center;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Change of:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:center;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Would have changed 2025 after-tax earnings by:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Copper prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:center;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">+</strong></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(208, 211, 212);width:12%;text-align:center"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$0.30</span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:center;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;background-color:rgb(208, 211, 212);width:22%;margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">1.4</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Copper prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:center;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">-</strong></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(208, 211, 212);width:12%;text-align:center"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$0.30</span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:center;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;background-color:rgb(208, 211, 212);width:22%;margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(1.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Gold prices ($/oz)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">+</strong></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$300</span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">1.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Gold prices ($/oz)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">-</strong></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$300</span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(1.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Zinc prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">+</strong></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$0.10</strong></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">0.5</strong></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Zinc prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:1%;background-color:#d0d3d4"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">-</strong></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$0.10</strong></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:22%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">(0.5</strong></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap;background-color:#5b6770"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">December 31, 2024</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:1%;white-space:nowrap;background-color:#5b6770"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;white-space:nowrap;background-color:rgb(91, 103, 112);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Change of:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:2%;white-space:nowrap;background-color:#5b6770"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;text-align:left;width:1%;white-space:nowrap;background-color:#5b6770"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:22%;white-space:nowrap;background-color:rgb(91, 103, 112);text-align:left"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Would have changed</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">2024 after-tax earnings</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">by:</strong></span></span></span></span></span></p> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;text-align:left;width:2%;white-space:nowrap;background-color:#5b6770"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Copper prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">+</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$0.30</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:22%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">3.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Copper prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">-</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$0.30</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(3.5</span></span></td> <td style="vertical-align:bottom;text-align:left;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Gold prices ($/oz)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">+</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$300</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Gold prices ($/oz)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">-</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$300</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Zinc prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">+</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$0.10</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:22%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">0.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Zinc prices ($/lb)<sup style="margin-top:0pt;margin-bottom:0pt">1</sup></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:1%"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">-</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$0.10</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:22%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(0.1</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> </table> 0.3 1400000 0.3 -1400000 300 1800000 300 -1800000 0.1 500000 0.1 -500000 0.3 3400000 0.3 -3500000 300 0 300 0 0.1 100000 0.1 -100000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0)"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>December 31, 2025</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Change of:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);width:22%"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Would have changed 2025 after-</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">tax earnings by:</strong></span></span></span></span></span></p> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Share prices</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>+</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>25%</span></span></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:22%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>32.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Share prices</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>25%</span></span></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:22%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(32.0</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(91, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>December 31, 2024</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(91, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;background-color:rgb(91, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Change of:</strong></span></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:rgb(91, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(91, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:22%;background-color:rgb(91, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Would have changed 2024 after-tax earnings by:</strong></span></span></span></span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:rgb(91, 103, 112);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Share prices</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">+</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:right;vertical-align:bottom;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">25%</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.0</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Share prices</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">25%</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.0</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> </div> 0.25 32000000 0.25 -32000000 0.25 3000000 0.25 -3000000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0)"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>December 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:justify"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Change of:</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:justify"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173)"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;width:22%;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Would have changed 2025 after-tax earnings by:</strong></span></span></span></span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Interest rates</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>+</strong></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.00%</span></span></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;width:22%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>8.3</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Interest rates</span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>-</strong></span></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.00%</span></span></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:22%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(8.3</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(91, 103, 112);text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>December 31, 2024</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(91, 103, 112)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);width:12%;background-color:rgb(91, 103, 112);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Change of:</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(91, 103, 112)"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(91, 103, 112)"> </td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:22%;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(91, 103, 112);text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Would have changed 2024 after-tax earnings by:</strong></span></span></span></span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(91, 103, 112)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Interest rates</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">+</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.00%</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Interest rates</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>-</strong></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:12%;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.00%</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:22%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.5</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> </div> 0.02 8300000 0.02 -8300000 0.02 8500000 0.02 -8500000 0.92 0.87 0.43 0.36 0.23 0.21 0.39 0.28 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;border-top:1.5pt solid #a2aaad;vertical-align:bottom;white-space:nowrap;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Dec. 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Carrying</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">amount</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Contractual</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">cash flows</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Less than</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">1 Year</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>1 - 3 Years</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>3 -5 Years</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">More than</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">5 Years</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right"> </td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Assets used to manage liquidity risk</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">568.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">568.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">568.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Restricted cash</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other receivables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">347.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">347.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">347.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivative assets</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">917.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">917.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">917.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Non-derivative financial liabilities</span></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other payables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(330.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(330.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(330.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred Copper Mountain acquisition consideration</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(17.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(21.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Contingent Copper Mountain acquisition consideration</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(13.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(18.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(11.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Agreements with communities ¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(105.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(136.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(67.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(12.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(9.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(48.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Senior unsecured notes</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,010.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,141.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(516.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(66.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(559.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Wheaton refund liability</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(79.2</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(79.2</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,486.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,728.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(916.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(84.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(581.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(144.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Derivative financial liabilities</span></span></span></strong></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non hedge derivative contracts</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#566770;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Dec. 31, 2024</span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">Carrying</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">amount</span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">Contractual</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">cash flows</span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">Less than</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">1 Year</span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">1 - 3 Years</span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">3 -5 Years</span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">More than</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">5 Years</span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Assets used to manage liquidity risk</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">541.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">541.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">541.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Short-term investments</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">40.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">40.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">40.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Collateral deposits</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Restricted cash</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:2.65pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other receivables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">185.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">185.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">185.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non-hedge derivative assets</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">782.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">782.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">782.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Non-derivative financial liabilities</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other payables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(255.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(255.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(255.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Agreements with communities ¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(68.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(99.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(26.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(17.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(47.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Senior unsecured notes</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,111.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,305.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(59.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(654.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(592.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Wheaton refund liability</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(79.2</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(79.2</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,442.0</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,739.1</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(340.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(671.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(600.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(126.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Derivative financial liabilities</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Non hedge derivative contracts</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.3</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> </table> </div> 568900000 568900000 568900000 0 0 0 200000 200000 200000 0 0 0 347600000 347600000 347600000 0 0 0 600000 600000 600000 0 0 0 917300000 917300000 917300000 0 0 0 330500000 330500000 330500000 0 0 0 17400000 21000000 3000000 6000000 6000000 6000000 13900000 18800000 0 0 7500000 11300000 105900000 136700000 67000000 12300000 9200000 48200000 1010900000 1141800000 516400000 66400000 559000000 0 7900000 79200000 0 0 0 79200000 1486500000 1728000000 916900000 84700000 581700000 144700000 31900000 31900000 31900000 0 0 0 31900000 31900000 31900000 0 0 0 541800000 541800000 541800000 0 0 0 40000000 40000000 40000000 600000 600000 600000 400000 400000 400000 0 0 0 185500000 185500000 185500000 0 0 0 14300000 14300000 14300000 0 0 0 782600000 782600000 782600000 0 0 0 255200000 255200000 255200000 0 0 0 68400000 99000000 26100000 17000000 8300000 47600000 1111100000 1305700000 59100000 654400000 592200000 0 7300000 79200000 0 0 0 79200000 1442000000 1739100000 340400000 671400000 600500000 126800000 300000 300000 300000 0 0 0 300000 300000 300000 0 0 0 <div> <p style="margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#d22630"><strong>30.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Commitments</strong></span></span></span></span></span></p> <p style="text-align:justify;text-indent:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>(a)<span style="display:inline-block;width:10pt"> </span>Capital commitments</strong></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>As at December 31, 2025, Hudbay had outstanding capital commitments in Manitoba of approximately $<span style="background-color:#ffffff">18.6 million of which $18.4 million can be terminated, </span>approximately $10.5 million in British Columbia of which $nil can be terminated, ap<span style="background-color:#ffffff">proximately $25.7 million in Peru all of which can be terminated,</span> and approximately $123.4 million in Arizona, primarily related to the Copper World Complex, of which $121.2 million can be terminated.</span></span></span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>(b)<span style="display:inline-block;width:10pt"> </span>Non-capitalized lease commitments</strong></span></span></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Hudbay has entered into various non-capitalized lease commitments for facilities and equipment. The leases expire in periods ranging from one to two years. There are no restrictions placed on the Company by entering into these leases. Future minimum lease payments under such cancellable leases recognized within results from operating activities at December 31 are:</span></span></span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Within one year</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>24.5</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>16.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>After one year but not more than five years</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>52.3</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>7.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>More than five years</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.1</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.9</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>78.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>27.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>(c)<span style="display:inline-block;width:11.5pt"> </span>Contingent liabilities</strong></span></span></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Hudbay is involved in various claims, litigation and other matters arising in the ordinary course and conduct of business. While it is not possible to determine the ultimate outcome of such actions at this time, and inherent uncertainties exist in predicting such outcomes, it is Hudbay's belief that the ultimate resolution of such actions is not reasonably likely to have a material adverse effect on its consolidated financial position or results of operations. The assessment of contingencies inherently involves the exercise of significant judgement and estimates of the outcome of future events. As a result of the assessment, management believes that no significant contingent liabilities exist.</span></span></span></span></p> </div> 18600000 18400000 10500000 0 25700000 123400000 121200000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Within one year</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>24.5</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>16.7</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>After one year but not more than five years</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>52.3</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>7.7</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>More than five years</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.1</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2.9</span></span></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>78.9</span></span></span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>27.3</span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> 24500000 16700000 52300000 7700000 2100000 2900000 78900000 27300000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#d22630"><strong>31.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Related parties</strong></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(a)<span style="display:inline-block;width:11.5pt"> </span>Group companies</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The financial statements include the financial statements of the Company and the following significant subsidiaries:</span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);width:16%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);width:16%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td colspan="2" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Beneficial</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">ownership of</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">ultimate</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">controlling party</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">(Hudbay Minerals</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Inc.)</strong></span></span></span></span></span></p> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Name</strong></span></span></span></td> <td style="width:16%;vertical-align:bottom;text-align:center;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Jurisdiction</strong></span></span></span></td> <td style="width:16%;vertical-align:bottom;text-align:center;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Business</strong></span></span></span></td> <td style="width:19%;vertical-align:bottom;text-align:center;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Entity's Parent</strong></span></span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>2025</strong></span></span></span></td> <td style="width:10%;vertical-align:bottom;text-align:center;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>2024</strong></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HudBay Peru Inc.</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">British</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Columbia</span></span></span></span></p> </td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Holding</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">company</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HMI</span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HudBay Peru S.A.C.</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Peru</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Exploration/</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">development</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HudBay Peru Inc.</span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HudBay (BVI) Inc.</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">British Virgin Islands</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Precious metals</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">sales</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HudBay Peru Inc.</span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay Arizona Inc.</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">British Columbia</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Holding</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">company</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HMI</span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Copper World LLC.</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arizona</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173)"> <p><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Exploration/</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>development</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">HudBay Arizona (US) Holding</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Corporation</span></span></span></span></p> </td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Mason Resources (US) Inc.</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Nevada</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Exploration/</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">development</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay Arizona (US)</span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HudBay Arizona (Barbados) SRL</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Barbados</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Precious metals</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">sales</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay Arizona Inc.</span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Copper Mountain Mine (BC) Ltd.</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">British</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Columbia</span></span></span></span></p> </td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Exploration/</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">development</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HMI</span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">75%</span></span></td> </tr> </table> </div> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Transactions between the Company and its subsidiaries, which are related parties of the Company, have been eliminated on consolidation and are not disclosed in this note.</span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(b)<span style="display:inline-block;width:10pt"> </span>Compensation of key management personnel</strong></span></span></p> <p style="margin-left:45pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company's key management includes members of the Board of Directors, Hudbay's Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Senior Vice Presidents and Vice Presidents. Total compensation to key management personnel was as follows:</span></span></p> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap;background-color:rgb(91, 103, 112)"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Short-term employee benefits¹</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">11.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">11.1</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Post-employment benefits</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Termination benefits</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Long-term share-based awards²</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.0</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.6</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">21.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> <p style="margin:0pt"> </p> </div> <div></div> <p style="margin-left:45pt;margin-bottom:0pt;text-align:justify;margin-top:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>¹Such as salaries and social security contributions, paid annual leave and paid sick leave, profit-sharing, termination benefits, bonuses and non-monetary benefits (such as medical care, housing, cars and free or subsidized goods or services) for current employees.</span></span></span></span></p> <p style="margin-top:0pt;margin-left:45pt;text-align:justify;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>²Long-term share-based awards are based on disbursements made during the year.</span></span></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>(c)<span style="display:inline-block;width:7pt"> </span>Transaction with related parties </strong></span></span></span></span></p> <p style="margin-left:40.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>All transactions with related parties have occurred in the normal course of the Company's operations. MMC was a related party until April 30, 2025, the date Hudbay completed the acquisition of MMC's 25% interest in CMBC. Accordingly, the MMC related party transactions disclosed below for the year ended December 31, 2025, reflect activity from January 1, 2025 to April 30, 2025.</span></span></span></span></p> <p style="margin-left:76.5pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify;margin-top:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>i.<span style="width:13pt;text-indent:0pt;display:inline-block"> </span>During the year ended December 31, 2025, the Company sold copper concentrate under the provision of a long-term contract with MMC for revenues totaling $78.0 million (December 31, 2024 - $274.1 million) including pricing adjustments. As at December 31, 2025, the Company had nil of trade receivables related to these sales outstanding (December 31, 2024 - $45.3 million).</span></span></span></span></p> <p style="margin-top:0pt;margin-left:76.5pt;margin-bottom:0pt;text-indent:-18pt;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>ii.<span style="width:10pt;text-indent:0pt;display:inline-block"> </span>During the year ended December 31, 2024, the Company obtained cash advances on certain concentrate shipments from MMC. For the year ended December 31, 2024, interest expense on these advances amounted to $0.9 million. For the year ended December 31, 2025 no cash advances were received.</span></span></span></span></p> <p style="margin-top:0pt;margin-left:76pt;text-indent:-18pt;text-align:justify;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>iii.<span style="width:7.5pt;text-indent:0pt;display:inline-block"> </span>During the year ended December 31, 2025, the Company recorded unrealized foreign exchange and foreign currency translation gains on intra-group loan balances totaling $21.6 million (December 31, 2024 - loss of $24.5 million).</span></span></span></span></p> </div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);width:16%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);width:16%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> <td colspan="2" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);text-align:center;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Beneficial</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">ownership of</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">ultimate</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">controlling party</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">(Hudbay Minerals</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Inc.)</strong></span></span></span></span></span></p> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Name</strong></span></span></span></td> <td style="width:16%;vertical-align:bottom;text-align:center;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Jurisdiction</strong></span></span></span></td> <td style="width:16%;vertical-align:bottom;text-align:center;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Business</strong></span></span></span></td> <td style="width:19%;vertical-align:bottom;text-align:center;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Entity's Parent</strong></span></span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>2025</strong></span></span></span></td> <td style="width:10%;vertical-align:bottom;text-align:center;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>2024</strong></span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HudBay Peru Inc.</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">British</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Columbia</span></span></span></span></p> </td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Holding</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">company</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HMI</span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HudBay Peru S.A.C.</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Peru</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Exploration/</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">development</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HudBay Peru Inc.</span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HudBay (BVI) Inc.</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">British Virgin Islands</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Precious metals</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">sales</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HudBay Peru Inc.</span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay Arizona Inc.</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">British Columbia</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Holding</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">company</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HMI</span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Copper World LLC.</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Arizona</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173)"> <p><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Exploration/</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>development</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">HudBay Arizona (US) Holding</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Corporation</span></span></span></span></p> </td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:center;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Mason Resources (US) Inc.</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Nevada</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Exploration/</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">development</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay Arizona (US)</span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HudBay Arizona (Barbados) SRL</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Barbados</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Precious metals</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">sales</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay Arizona Inc.</span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Copper Mountain Mine (BC) Ltd.</span></span></td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">British</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Columbia</span></span></span></span></p> </td> <td style="width:16%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Exploration/</span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">development</span></span></span></span></p> </td> <td style="width:19%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">HMI</span></span></td> <td style="width:10%;vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">100%</span></span></td> <td style="width:10%;vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">75%</span></span></td> </tr> </table> 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 0.75 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap;background-color:rgb(91, 103, 112)"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;border-top:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Short-term employee benefits¹</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">11.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">11.1</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Post-employment benefits</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.0</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Termination benefits</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Long-term share-based awards²</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.0</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.6</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">21.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> 11100000 11100000 1000000 900000 0 700000 9000000 3600000 21100000 16300000 0.25 78000000 274100000 0 45300000 900000 21600000 -24500000 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#d22630"><strong>32.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Supplementary cash flow information </strong></span></span></span></p> <div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(a)</strong><span style="width:11.5pt;text-indent:0pt;display:inline-block"> </span><strong>Other operating activities: </strong></span></span></p> <div style="margin-left:45pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Share-based compensation paid</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(14.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Consideration received from sale of non-core project</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(14.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.4</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.7</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(27.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.8</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> </div> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(b)</strong><span style="width:10.01pt;text-indent:0pt;display:inline-block"> </span><strong>Change in non-cash working capital: </strong></span></span></p> <div style="margin-left:45pt;margin-top:0pt;margin-bottom:0pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(91, 103, 112)"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">Year ended December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Change in:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Trade and other receivables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(141.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(36.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Other financial assets/liabilities</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">46.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(29.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Inventories</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(13.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">10.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Prepaid expenses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">3.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(11.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Trade and other payables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">52.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">43.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Provisions and other liabilities</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(4.2</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(0.4</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(57.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(24.9</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt"> </p> </div> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span id="page_84"></span></span></span></p> <div style="margin-top:0pt;margin-bottom:0pt"></div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(c)</strong><span style="width:11.51pt;text-indent:0pt;display:inline-block"> </span><strong>Non-cash transactions: </strong></span></span></p> <p style="text-align:justify;margin-left:45pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During the year ended December 31, 2025 and 2024, Hudbay entered into the following non-cash investing and financing activities which are not reflected in the consolidated statements of income:</span></span></p> <p style="text-align:justify;margin-left:72pt;text-indent:-27pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:24pt"> </span>Remeasurement of Hudbay's decommissioning and restoration liabilities led to a net decrease in related property, plant and equipment assets of $0.2 million (December 31, 2024 - a net decrease of $4.7 million), mainly related to changes to real discount rates associated with remeasurement of the liabilities.</span></span></p> <p style="text-align:justify;margin-left:72pt;text-indent:-27pt;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-<span style="display:inline-block;width:24pt"> </span>Property, plant and equipment included $17.7 million (December 31, 2024 - $25.5 million) of capital additions related to the recognition of ROU assets and $33.1 million (December 31, 2024 - $71.0 million) of capital additions related to the recognition of property, plant and equipment that has been financed. Property, plant and equipment and other assets include $39.5 million in net capital additions related to agreements with communities (December 31, 2024 - $18.6 million). Property, plant and equipment includes $2.8 million of deduction for accrued grants related to equipment eligible for credits (December 31, 2024 - nil).</span></span></p> </div> </div> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff">Year ended December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(86, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Share-based compensation paid</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(14.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Consideration received from sale of non-core project</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(14.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.4</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.7</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(27.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.8</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> </div> -14200000 -4500000 -14900000 0 1400000 700000 -27700000 -3800000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;background-color:rgb(91, 103, 112)"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"> </td> <td colspan="4" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">Year ended December 31,</span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;border-top:0.75pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">2024</span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Change in:</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Trade and other receivables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(141.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(36.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Other financial assets/liabilities</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">46.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(29.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Inventories</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(13.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">10.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Prepaid expenses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">3.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(11.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Trade and other payables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">52.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">43.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">Provisions and other liabilities</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(4.2</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(0.4</span></span></td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">$</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(57.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212);margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">)</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">(24.9</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">)</span></span></td> </tr> </table> -141300000 -36500000 46300000 -29400000 -13600000 10000000 3500000 -11800000 52300000 43200000 4200000 400000 57000000 24900000 -200000 -4700000 17700000 25500000 33100000 71000000 39500000 18600000 -2800000 0 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#d22630"><strong>33.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Non-Controlling Interest</strong></span></span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>On April 30, 2025, Hudbay completed the acquisition on MMC's 25% interest in CMBC. As a result of the Transaction, Hudbay increased its ownership of the Copper Mountain mine from 75% to 100% (note 5). Prior to this, as part of the British Columbia operating segment, the Company owned 75% of CMBC. The remaining 25% ownership stake was held by MMC. The continuity of non-controlling interest balance is disclosed in the consolidated statements of changes in equity. </span></span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Summarized financial information for the Copper Mountain mine on an 100% basis is as follows: </span></span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="background-color:#ffffff"><strong>Sum</strong></span><strong>marized Balance Sheets</strong></span></span></p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:right;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:right;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">December 31,</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">2024</span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:right;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Assets</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash and cash equivalents</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other receivables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">44.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Inventories - current</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">37.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Property, plant and equipment</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">902.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other assets</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">11.1</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,008.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Liabilities</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other payables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">37.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Amounts due to related parties</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">422.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Environmental and other provisions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">35.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Lease liabilities</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax liabilities</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">119.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other liabilities</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">68.9</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">704.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> <p style="margin:0pt"> </p> </div> <div></div> <p style="text-align:justify;margin-left:22pt;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>Summarized Statement of Income and Comprehensive (Loss)/Income </strong></span></span></p> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;text-align:right;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Year ended</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">December 31, 2025</strong><sup style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">1</strong></sup></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#566770;text-align:right;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;text-align:right;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Year ended</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">December 31, 2024</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#566770;text-align:right;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total revenue</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">76.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">274.1</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Mine operating costs</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">56.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">210.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Depreciation and amortization</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.5</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">50.1</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Gross profit</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other expenses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Finance expense - related parties</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">31.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other net finance costs</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax recovery</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.0</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(19.4</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net loss for the year</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(16.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(35.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total comprehensive loss</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.0</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(63.1</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="7" style="vertical-align:bottom;text-align:justify;width:0px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹The results presented above reflect the transactions for the period January 1, 2025 to April 30, 2025, up to the date on which Hudbay completed the acquisition of MMC's 25% interest in CMBC.</span></span></td> </tr> </table> </div> <p style="text-align:justify;margin-left:22pt;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The above information is presented before inter-company eliminations.</span></span></p> </div> 0.25 0.75 1 0.75 0.25 1 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);background-color:rgb(86, 103, 112);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:right;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:right;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">December 31,</span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt">2024</span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:right;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Assets</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash and cash equivalents</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other receivables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">44.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Inventories - current</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">37.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Property, plant and equipment</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">902.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other assets</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">11.1</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,008.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Liabilities</strong></span></span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Trade and other payables</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">37.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Amounts due to related parties</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">422.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Environmental and other provisions</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">35.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Lease liabilities</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax liabilities</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">119.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other liabilities</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">68.9</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">704.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> 12900000 44100000 37500000 902900000 11100000 1008500000 37500000 422600000 35500000 20100000 119900000 68900000 704500000 <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;background-color:#566770;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;text-align:right;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Year ended</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">December 31, 2025</strong><sup style="margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">1</strong></sup></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#566770;text-align:right;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#566770;text-align:right;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(86, 103, 112);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:1.5pt solid rgb(162, 170, 173);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Year ended</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(255, 255, 255);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">December 31, 2024</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;background-color:#566770;text-align:right;border-bottom:1.5pt solid #a2aaad;border-top:1.5pt solid #a2aaad;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total revenue</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">76.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">274.1</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Mine operating costs</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">56.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">210.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Depreciation and amortization</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.5</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">50.1</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Gross profit</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other expenses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">20.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Finance expense - related parties</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">31.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other net finance costs</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax recovery</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2.0</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(19.4</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net loss for the year</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(16.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(35.5</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#d0d3d4;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:17%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total comprehensive loss</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.0</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(63.1</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> </table> 76500000 274100000 56500000 210800000 16500000 50100000 3500000 13200000 2600000 20200000 14400000 31300000 -5300000 -16600000 -2000000 -19400000 -16800000 -35500000 -4000000 -63100000 0.25 <div> <p style="margin-left:22pt;text-indent:-22.5pt;text-align:justify;margin-top:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#d22630"><strong>34.</strong></span><span style="width:9.99pt;text-indent:0pt;display:inline-block"> </span><span style="color:#d22630"><strong>Segmented information </strong></span></span></span></p> <div> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hudbay is an integrated metals producer. When making decisions on expansions, opening or closing mines, as well as day to day operations, management evaluates the results from operating activities of the Company. Hudbay has the following reportable segments identified by the individual mining operations of Manitoba, British Columbia, Peru, as well as Arizona which holds our Copper World project. The Manitoba, British Columbia and Peru segments generate Hudbay's revenue. The Manitoba segment sells copper concentrate (containing copper, gold and silver), silver/gold doré, zinc concentrate (containing zinc and gold) and other products. The Peru segment consists of Hudbay's Constancia operation and sells copper concentrate and molybdenum concentrate. The British Columbia segment consists of the Copper Mountain operation and sells copper concentrate. Hudbay's Arizona segment consists of the Copper World project located in Arizona. Corporate and other activities include the Company's exploration activities in Chile, Canada and the State of Nevada. The exploration entities are not individually significant, as they do not meet the minimum quantitative thresholds. Corporate activities are not considered a segment and are included as a reconciliation to total consolidated results. Accounting policies for each reported segment are the same as those of the Company. Results from operating activities represents the profit earned by each segment without allocation of corporate costs. This is the measure reported to the chief operating decision-maker, Hudbay's President and Chief Executive Officer, for the purposes of resource allocation and the assessment of segment performance. Total assets and liabilities do not reflect intercompany balances, which have been eliminated on consolidation.</span></span></p> <div> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="18" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Year ended December 31, 2025</strong></span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Peru</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Manitoba</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">British</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Columbia</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Arizona</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Corporate</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">and other</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">activities</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Total</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Revenue</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,161.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">748.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">301.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,211.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of sales</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Mine operating costs</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>516.2</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>273.2</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>238.7</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1,028.1</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Depreciation and amortization</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>290.0</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>86.4</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>63.3</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>-</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>-</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:9%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>439.7</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Gross profit (loss)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">355.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">389.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">743.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Selling and administrative expenses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">94.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">94.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exploration expenses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">15.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">30.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">46.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other operating expenses (income)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Re-evaluation adjustment - environmental provision</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Impairment - reversal</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(322.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(322.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></strong></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Results from operating activities</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">322.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">367.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">321.4</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(90.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">916.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Consideration received from sale of non-core project</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(14.9</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net interest expense on long term debt</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">60.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accretion on streaming arrangements</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">19.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Change in fair value of financial instruments</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(52.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other net finance income</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.3</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Income before tax</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">912.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax expense</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">347.7</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net income for the year</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">564.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt"> </p> </div> <div></div> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="18" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Year ended December 31, 2024</span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Peru</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Manitoba</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">British</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Columbia</span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Arizona</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Corporate</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">and other</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">activities</span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Total</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Revenue</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,049.7</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">697.4</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">274.1</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,021.2</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of sales</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Mine operating costs</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">517.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">312.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">210.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,040.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Depreciation and amortization</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">270.3</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">106.2</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">50.1</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">426.6</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Gross profit</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">262.0</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">278.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">553.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Selling and administrative expenses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">57.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">57.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exploration expenses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">42.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other operating expenses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">15.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">15.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">57.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Re-evaluation adjustment - environmental provision</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.5</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.5</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Results from operating activities</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">229.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">241.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(59.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">400.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net interest expense on long term debt</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">69.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accretion on streaming arrangements</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Change in fair value of financial instruments</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other net finance expense</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">38.1</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Income before tax</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">251.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax expense</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">183.8</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net income for the year</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">67.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="margin:0pt"> </p> <div> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="18" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>December 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Peru</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Manitoba</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">British</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Columbia</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Arizona</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Corporate</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">and other</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">activities</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Total</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total assets</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,492.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">471.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,320.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,147.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">792.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6,223.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total liabilities</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,031.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">424.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">269.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">103.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,163.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,992.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Property, plant and equipment¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,815.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">604.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,082.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,144.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">46.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,693.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other Non-Current Assets²</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">64.3</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">21.4</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.5</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">96.3</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> </div> </div> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="19" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify;width:0px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹Included in Corporate and Other activities is $33.9 million of property, plant and equipment that is located in Nevada.</span></span></td> </tr> <tr> <td colspan="19" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">²Other non-current assets includes receivables, inventory, intangibles and other assets.</span></span></td> </tr> </table> </div> </div> <p style="margin-top:0pt;margin-bottom:0pt"> </p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000;width:100%;width:100%"> <tr> <td colspan="18" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>December 31, 2025</strong></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap;width:28%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Peru</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Manitoba</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:9%;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">British</strong></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Columbia</strong></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Arizona</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:9%;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Corporate</strong></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">and other</strong></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">activities</strong></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:2%"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:1%"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Total</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:28%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>Additions to property, plant and equipment</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;padding-left:3pt;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">207.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;padding-left:3pt;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">64.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;padding-left:3pt;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">228.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;padding-left:3pt;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">82.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;padding-left:3pt;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;background-color:rgb(208, 211, 212);width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">582.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;background-color:rgb(208, 211, 212);width:2%"> </td> </tr> </table> </div> <p style="margin:0pt"> </p> </div> <div></div> <div> <div> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="18" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">December 31, 2024</span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Peru</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Manitoba</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">British</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Columbia</span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Arizona</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Corporate and</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">other activities</span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Total</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total assets</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,410.0</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">547.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,076.0</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">757.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">696.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5,487.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total liabilities</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">960.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">421.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">281.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,162.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,840.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Property, plant and equipment¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,897.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">595.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">900.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">747.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">41.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,181.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other Non-Current Assets²</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">47.8</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17.2</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.0</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">73.8</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> </div> </div> <p style="margin-left:22.5pt;margin-bottom:0pt;text-align:justify;margin-top:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹Included in Corporate and Other activities is $27.7 million of property, plant and equipment that is located in Nevada.</span></span></p> <p style="margin-top:0pt;margin-left:22.5pt;text-align:justify;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">²Other non-current assets includes receivables, inventory, intangibles and other assets.</span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="19" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">December 31, 2024</span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Peru</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Manitoba</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">British</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Columbia</span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Arizona</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Corporate and</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">other activities</span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Total</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Additions to property, plant and equipment</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">177.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">63.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">214.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">30.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">486.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:2%"> </td> </tr> </table> </div> </div> <div></div> <p style="margin-left:22pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>Geographical Segments</strong></span></span></p> <p style="margin-left:22.5pt;text-align:justify;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The following tables represent revenue information regarding Hudbay's geographical segments for the years ended December 31, 2025 and 2024:</span></span></p> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">2024</span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>Revenue by customer location</strong>^{<strong> 1</strong>}</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>China</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>923.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>755.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Canada</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>702.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>741.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Japan</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>320.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>274.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>India</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>148.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>82.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Germany</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">44.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Peru</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>22.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>South Korea</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>19.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>23.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>United States</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>14.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>67.4</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Chile</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>11.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Philippines</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>63.9</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Netherlands</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>1.4</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Switzerland</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>13.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Belgium</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2,211.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,021.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> </div> <p style="margin-left:22.5pt;text-align:justify;margin-top:0pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">¹Presented based on the ultimate destination of the product if known. If the eventual destination of the product sold through traders is not known then revenue is allocated to the location of the customer's business office and not the ultimate destination of the product.</span></span></p> <p style="text-align:justify;margin-left:22.5pt;margin-top:10pt;margin-bottom:10pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During the year ended December 31, 2025, six customers accounted for approximately 22%, 14%, 11%, 7%,  6% and 6%, respectively, of total revenue during the year. Revenue from these customers has been presented in the Manitoba, British Columbia and Peru operating segments.</span></span></p> <p style="text-align:justify;margin-left:22pt;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During the year ended December 31, 2024, six customers accounted for approximately <span>24%, 14%, 9%, 7%, and 6%,</span> respectively, of total revenue during the year. Revenue from these customers has been presented in the Manitoba, British Columbia and Peru operating segments.</span></span></p> </div> </div> <div> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="18" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>Year ended December 31, 2025</strong></span></span></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Peru</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Manitoba</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">British</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Columbia</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Arizona</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Corporate</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">and other</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">activities</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Total</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Revenue</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,161.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">748.7</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">301.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,211.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of sales</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Mine operating costs</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>516.2</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>273.2</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>238.7</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1,028.1</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Depreciation and amortization</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>290.0</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>86.4</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>63.3</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>-</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>-</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);width:9%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>439.7</span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;border-bottom:1.5pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Gross profit (loss)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">355.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">389.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">743.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Selling and administrative expenses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">94.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">94.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exploration expenses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">15.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">30.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">46.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other operating expenses (income)</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.8</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Re-evaluation adjustment - environmental provision</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Impairment - reversal</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(322.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(322.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></strong></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Results from operating activities</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">322.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">367.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(4.8</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">321.4</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(90.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">916.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Consideration received from sale of non-core project</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>(14.9</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net interest expense on long term debt</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">60.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accretion on streaming arrangements</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">19.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Change in fair value of financial instruments</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(52.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other net finance income</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.3</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>)</strong></span></span></td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Income before tax</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">912.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax expense</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">347.7</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:left"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net income for the year</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%;background-color:rgb(208, 211, 212)"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">564.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt"> </p> </div> <div></div> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="18" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">Year ended December 31, 2024</span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Peru</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Manitoba</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">British</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Columbia</span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Arizona</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Corporate</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">and other</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">activities</span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Total</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Revenue</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,049.7</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">697.4</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">274.1</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,021.2</span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of sales</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;padding-left:3pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:9%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Mine operating costs</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">517.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">312.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">210.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,040.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:13.9pt;vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Depreciation and amortization</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">270.3</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">106.2</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">50.1</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">426.6</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Gross profit</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">262.0</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">278.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">553.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Selling and administrative expenses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">57.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">57.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exploration expenses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">42.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other operating expenses</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">15.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">15.8</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.5</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">57.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Re-evaluation adjustment - environmental provision</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.5</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.5</span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Results from operating activities</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">229.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">241.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(59.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">400.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net interest expense on long term debt</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">69.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accretion on streaming arrangements</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Change in fair value of financial instruments</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16.6</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other net finance expense</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">38.1</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Income before tax</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">251.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax expense</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">183.8</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td colspan="15" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net income for the year</span></span></td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">67.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> </div> 1161200000 748700000 301100000 0 0 2211000000 516200000 273200000 238700000 0 0 1028100000 290000000 86400000 63300000 0 0 439700000 355000000 389100000 -900000 0 0 743200000 0 0 0 0 94700000 94700000 15900000 30400000 0 0 0 46300000 16200000 -8800000 3900000 900000 -4400000 7800000 0 -200000 0 0 0 -200000 0 322300000 0 322300000 322900000 367300000 -4800000 321400000 -90300000 916500000 14900000 60700000 19900000 -52900000 8300000 912000000 347700000 564300000 1049700000 697400000 274100000 0 0 2021200000 517400000 312600000 210800000 0 0 1040800000 270300000 106200000 50100000 0 0 426600000 262000000 278600000 13200000 0 0 553800000 0 0 0 0 57000000 57000000 16500000 24400000 0 0 1700000 42600000 15700000 15800000 17100000 8300000 500000 57400000 0 3500000 0 0 0 3500000 229800000 241900000 -3900000 -8300000 -59200000 400300000 69800000 24200000 16600000 -38100000 251600000 183800000 67800000 <div> <div style="margin-left:22.5pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="18" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#ffffff"><strong>December 31, 2025</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:0.75pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Peru</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Manitoba</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">British</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Columbia</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Arizona</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Corporate</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">and other</strong></span></span></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">activities</strong></span></span></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="color:#5b6770"><strong>Total</strong></span></span></span></span></span></td> <td style="vertical-align:bottom;background-color:#d0d3d4;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total assets</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,492.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">471.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,320.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,147.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">792.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4;padding-left:3pt"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6,223.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total liabilities</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,031.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">424.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">269.2</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">103.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,163.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,992.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Property, plant and equipment¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,815.7</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">604.3</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,082.6</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,144.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">46.4</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,693.9</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other Non-Current Assets²</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">64.3</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">21.4</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9.9</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.5</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">96.3</span></span></strong></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%;background-color:#d0d3d4"> </td> </tr> </table> </div> </div> </div> <div> <div style="margin-left:22.5pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="18" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">December 31, 2024</span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Peru</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Manitoba</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">British</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Columbia</span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Arizona</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Corporate and</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">other activities</span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Total</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total assets</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,410.0</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">547.4</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,076.0</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">757.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">696.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5,487.6</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total liabilities</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">960.0</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">421.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">281.9</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,162.3</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,840.2</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Property, plant and equipment¹</span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,897.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">595.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">900.7</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">747.1</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">41.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,181.4</span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other Non-Current Assets²</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">47.8</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17.2</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.0</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.2</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.6</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">73.8</span></span></td> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> </div> 2492000000 471500000 1320200000 1147500000 792100000 6223300000 1031300000 424300000 269200000 103600000 1163900000 2992300000 1815700000 604300000 1082600000 1144900000 46400000 4693900000 64300000 21400000 9900000 200000 500000 96300000 33900000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000;width:100%;width:100%"> <tr> <td colspan="18" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff"><strong>December 31, 2025</strong></span></span></span></td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(91, 103, 112);border-top:1.5pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap;width:28%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Peru</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Manitoba</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:9%;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">British</strong></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Columbia</strong></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Arizona</strong></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:9%;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">Corporate</strong></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">and other</strong></span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">activities</strong></span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:2%"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:1%"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>Total</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid rgb(162, 170, 173);border-top:0.75pt solid rgb(162, 170, 173);vertical-align:bottom;width:28%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>Additions to property, plant and equipment</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;padding-left:3pt;width:1%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>$</strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">207.0</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;padding-left:3pt;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">64.9</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;padding-left:3pt;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">228.1</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;padding-left:3pt;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">82.2</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;padding-left:3pt;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:left;background-color:rgb(208, 211, 212);padding-left:3pt;width:1%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;background-color:rgb(208, 211, 212);width:9%"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">582.5</span></span></strong></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:right;background-color:rgb(208, 211, 212);width:2%"> </td> </tr> </table> </div> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td colspan="19" style="vertical-align:bottom;background-color:#5b6770;border-top:1.5pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#ffffff">December 31, 2024</span></span></span></td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Peru</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Manitoba</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">British</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Columbia</span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Arizona</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">Corporate and</span></span></span></p> <p style="margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;margin-top:0pt;margin-bottom:0pt"><span style="font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(91, 103, 112);margin-top:0pt;margin-bottom:0pt">other activities</span></span></span></p> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">Total</span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-bottom:0pt;border-bottom:1.5pt solid #a2aaad;border-top:0.75pt solid #a2aaad;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Additions to property, plant and equipment</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">177.8</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">63.3</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">214.9</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">30.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:9%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">486.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid #a2aaad;border-bottom:1.5pt solid #a2aaad;text-align:right;width:2%"> </td> </tr> </table> </div> 207000000 64900000 228100000 82200000 300000 582500000 2410000000 547400000 1076000000 757300000 696900000 5487600000 960000000 421300000 281900000 14700000 1162300000 2840200000 1897100000 595100000 900700000 747100000 41400000 4181400000 47800000 17200000 8000000 200000 600000 73800000 27700000 177800000 63300000 214900000 30200000 0 486200000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid rgb(162, 170, 173);border-bottom:1.5pt solid rgb(162, 170, 173);vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770"><strong>2025</strong></span></span></span></td> <td style="vertical-align:bottom;background-color:rgb(208, 211, 212);border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="color:#5b6770">2024</span></span></span></td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(162, 170, 173);text-align:right;border-bottom:1.5pt solid rgb(162, 170, 173);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>Revenue by customer location</strong>^{<strong> 1</strong>}</span></span></td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#d0d3d4"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>China</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>923.4</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>755.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Canada</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>702.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>741.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Japan</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>320.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>274.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>India</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>148.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>82.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Germany</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><strong><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">44.5</span></span></strong></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Peru</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>22.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>South Korea</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>19.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>23.0</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>United States</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>14.5</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>67.4</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Chile</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>11.1</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Philippines</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>4.2</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>63.9</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Netherlands</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong>1.4</strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>-</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Switzerland</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#d0d3d4"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#d0d3d4"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>13.6</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Belgium</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>-</span></span></strong></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:1%;padding-left:3pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid rgb(162, 170, 173);width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1.1</span></span></span></span></td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid rgb(162, 170, 173);width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid rgb(162, 170, 173);vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;background-color:rgb(208, 211, 212);padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><strong>$</strong></span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%;background-color:rgb(208, 211, 212)"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><strong><span><span>2,211.0</span></span></strong></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%;background-color:rgb(208, 211, 212)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:1%;padding-left:3pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:right;width:17%"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,021.2</span></span></td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(162, 170, 173);border-bottom:0.75pt solid rgb(162, 170, 173);text-align:left;width:2%"> </td> </tr> </table> </div> 923400000 755000000 702000000 741100000 320200000 274100000 148000000 82000000 44500000 0 22200000 0 19500000 23000000 14500000 67400000 11100000 0 4200000 63900000 1400000 0 0 13600000 0 1100000 2211000000 2021200000 0.22 0.14 0.11 0.07 0.06 0.06 0.24 0.14 0.09 0.07 0.06 <div> <p style="text-align:justify;margin-left:22pt;text-indent:-22.5pt;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt"><span style="color:rgb(210, 38, 48);margin-top:0pt;margin-bottom:0pt"><strong style="margin-top:0pt;margin-bottom:0pt">35.<span style="display:inline-block;width:10pt;margin-top:0pt;margin-bottom:0pt"> </span>Events after reporting period</strong></span></span></span></span></span></p> <p style="text-align:justify;margin-left:22pt;margin-top:10pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>On January 9, 2026, Hudbay closed the previously announced strategic investment from Mitsubishi for a 30% minority interest in Copper World, which owns the fully-permitted Copper World project in Arizona. On closing, Mitsubishi contributed approximately $420 million of cash to Copper World, and it will contribute an additional $180 million in cash within 18 months in accordance with the terms of the definitive subscription agreement. As a result of the strategic investment, Hudbay continues to control Copper World and the Copper World Transaction will be accounted for as an equity transaction resulting in the recognition of non-controlling interest.</span></span></span></span></p> </div> 0.30 420000000 180000000