Sierra Metals Inc. at its annual general meeting of shareholders held on June 25, 2024, approved the election of Roberto Maldonado to the Company's board of directors. Mr. Douglas Cater received less than 50% of votes cast in favour of his re-election and has resigned from the Board with immediate effect in accordance with the majority voting provisions of the Canada Business Corporations Act. Mr. Oscar Cabrera and Mr. Carlos Santa Cruz had both previously announced their intentions to retire from the Board and did not stand for re-election at this year's Meeting.

Mr. Roberto Maldonado has over 35 years of professional experience in the mining sector, currently serving as the General Manager of Agnitia Consultores SAC in Peru. He previously held the position of Chief Operating Officer (2008-2017) at Volcan Compañía Minera and was responsible for five mining operations including supporting activities such as administration, human resources management, procurement management, control of contracts, appraisals, inventory control, safety, and environmental systems. Mr. Maldonado holds a masters in Mineral Engineering Management from The Pennsylvania State University and obtained his Mining Engineering degree from the National University of Engineering (Universidad Nacional de Ingeniería).