UNDERWRITING AGREEMENTUnderwriting Agreement • January 31st, 2014 • HudBay Minerals Inc. • Metal mining • Ontario
GMP Securities L.P. and BMO Nesbitt Burns Inc. as co-lead underwriters (the “Co-Lead Underwriters”) together with RBC Dominion Securities Inc., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., Dundee Securities Ltd., Macquarie Capital Markets Canada Ltd., Merrill Lynch Canada Inc., Paradigm Capital Inc., Raymond James Ltd., Cormark Securities Inc. and Desjardins Securities Inc. (collectively, the “Underwriters” and each individually an “Underwriter”) hereby severally, and not jointly, nor jointly and severally, in their respective percentages set out in Section 18 below, offer to purchase from HudBay Minerals Inc. (the “Corporation”) and the Corporation hereby agrees to issue and sell to the Underwriters, 18,200,000 Common Shares (as defined herein) of the Corporation (the “Shares”), on an underwritten basis, at the purchase price of $8.25 per Share (the “Offering Price”), for an aggregate purchase price of $150,150,000.
