FIL Limited and affiliates (HBM) disclose 28.3M-share Hudbay Minerals position

Rhea-AI Filing Summary

FIL Limited and related entities report beneficial ownership of common stock of Hudbay Minerals Inc.. They state beneficial ownership of 28,303,227 shares of common stock, representing 6.3% of the class.

FIL Limited reports 26,343,900 shares with sole voting power and 28,303,227 shares with sole dispositive power, with no shared voting or dispositive power. Pandanus Partners, L.P. and Pandanus Associates, Inc., both organized in Delaware, are also listed as having sole dispositive power over 28,303,227 shares, representing the same 6.3% of the class. One or more other persons have rights to dividends or sale proceeds, but no such person holds more than five percent of Hudbay’s outstanding common stock.

Key Figures

Beneficially owned shares: 28,303,227 shares Percent of class: 6.3% Sole Voting Power: 26,343,900 shares +2 more

5 metrics

Beneficially owned shares 28,303,227 shares Common stock of Hudbay Minerals Inc. reported as beneficially owned by FIL Limited and affiliates

Percent of class 6.3% Percentage of Hudbay Minerals common stock represented by 28,303,227 beneficially owned shares

Sole Voting Power 26,343,900 shares Shares of Hudbay Minerals common stock over which FIL Limited has sole voting power

Sole Dispositive Power (FIL Limited) 28,303,227 shares Hudbay Minerals common shares over which FIL Limited has sole dispositive power

Sole Dispositive Power (Pandanus entities) 28,303,227 shares Hudbay Minerals common shares over which Pandanus Partners, L.P. and Pandanus Associates, Inc. have sole dispositive power

Key Terms

beneficially owned, Sole Voting Power, Sole Dispositive Power, Percent of class, +2 more

6 terms

beneficially owned financial

"Ownership (a) | Amount beneficially owned: 28303227.00"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Voting Power financial

"5 | Sole Voting Power 26,343,900.00 6 | Shared Voting Power 0.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Sole Dispositive Power financial

"7 | Sole Dispositive Power 28,303,227.00 8 | Shared Dispositive Power 0.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Percent of class financial

"(b) | Percent of class: 6.3 %"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

parent holding company financial

"Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company"

Schedule 13G regulatory

"Please see Exhibit 99 for 13d-1(k) (1) agreement."

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

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FAQ

How many Hudbay Minerals (HBM) shares are beneficially owned by FIL Limited?

FIL Limited reports beneficial ownership of 28,303,227 Hudbay Minerals common shares. This position represents 6.3% of the company’s outstanding common stock and reflects shares over which FIL Limited and related entities have sole dispositive power.

What percentage of Hudbay Minerals (HBM) does FIL Limited own?

FIL Limited and related entities report holding 6.3% of Hudbay Minerals’ common stock. This percentage is based on 28,303,227 shares beneficially owned, as disclosed in the ownership section describing their voting and dispositive power.

How many Hudbay Minerals (HBM) shares does FIL Limited control for voting?

FIL Limited reports sole voting power over 26,343,900 Hudbay Minerals common shares. It reports no shared voting power, while having sole dispositive power over 28,303,227 shares, highlighting a difference between voting and dispositive control.

Do other investors share in the economic interest of Hudbay Minerals (HBM) shares held by FIL Limited?

Yes. One or more other persons have rights to dividends or sale proceeds from Hudbay Minerals common stock held by FIL Limited’s entities. However, no single such person has an interest exceeding 5% of Hudbay’s total outstanding common stock.

Which entities related to FIL Limited hold Hudbay Minerals (HBM) shares?

The ownership report identifies FIL Limited, Pandanus Partners, L.P., and Pandanus Associates, Inc.. Each is associated with sole dispositive power over 28,303,227 Hudbay common shares, representing 6.3% of the outstanding class.

Does FIL Limited report any shared voting or dispositive power in Hudbay Minerals (HBM)?

No. The ownership disclosure shows 0 shares with shared voting power and 0 shares with shared dispositive power. All reported control is categorized as sole voting and sole dispositive power over the Hudbay Minerals common stock position.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

HUDBAY MINERALS INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

FIL Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 26,343,900.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 28,303,227.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

28,303,227.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.3 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

Pandanus Partners, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 28,303,227.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

28,303,227.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.3 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

Pandanus Associates, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 28,303,227.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

28,303,227.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.3 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: HUDBAY MINERALS INC
(b)	Address of issuer's principal executive offices: 25 YORK STREET,SUITE 800,TORONTO,A6,CA,M5J 2V5
Item 2.
(a)	Name of person filing: FIL Limited
(b)	Address or principal business office or, if none, residence: Pembroke Hall, 42 Crow Lane, Hamilton, Bermuda, HM19
(c)	Citizenship: Not applicable
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.:
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	Please see Exhibit 99.
Item 4.	Ownership
(a)	Amount beneficially owned: 28303227.00
(b)	Percent of class: 6.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page.
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 28303227.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of HUDBAY MINERALS INC. No one other person's interest in the COMMON STOCK of HUDBAY MINERALS INC is more than five percent of the total outstanding COMMON STOCK.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See attached Exhibit 99.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

FIL Limited

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of December 19, 2022, by and on behalf of FIL Limited and its direct and indirect subsidiaries*
Date:	08/05/2026

Pandanus Partners, L.P.

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of December 19, 2022, by Pandanus Associates, Inc. on behalf of Pandanus Partners, L.P.*
Date:	08/05/2026

Pandanus Associates, Inc.

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of December 19, 2022, by and on behalf of Pandanus Associates, Inc.*
Date:	08/05/2026

Comments accompanying signature: * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FIL Limited on January 31, 2023, accession number: 0000318989-23-000005.

Exhibit Information

Please see Exhibit 99 for 13d-1(k) (1) agreement.