Lundin Mining Corporation

Dividends

Dividend amount and payment dates for Lundin Mining Corporation's common shares:

ISIN: CA5503721063

Dividend Declaration Date Record Date Payment Date Status
February 22, 2017 March 31, 2017 April 18, 2017 (common shares)

On or about April 25, 2017 (Holders of Swedish Depository Receipts)
Eligible Dividend for Canadian income tax purposes

AMENDMENT TO GENERAL TERMS AND CONDITIONS FOR THE SDRS

In order to make possible a payment of dividends on the SDRs, the Company and Pareto have jointly amended and further updated the General Terms and Conditions for the SDRs (the "Terms"). The complete amended Terms are available below:

English

Swedish

DIVIDEND POLICY

On November 30, 2016, the Company's Board of Directors approved a Dividend Policy. The Company's Dividend Policy anticipates paying four cash dividends per calendar year, the first declared with the release of year-end results; the second declared with the release of first quarter results; the third declared with the release of second quarter results; and the fourth declared with the release of the third quarter results. The declaration, timing, amount and payment of all dividends remain at the discretion of the Board of Directors.

DIVIDEND WITHHOLDING TAX INFORMATION

Notice to all Non-Canadian Resident Shareholders

In 2012, the Canada Revenue Agency (CRA) changed how the tax withholding rate applied to dividend payments made to non-residents is determined. The CRA now requires a certification of residency from each shareholder so that the preferred tax treaty rate can be applied where applicable to persons resident in countries which have a tax treaty with Canada.

Form NR301 form will be mailed to all Registered non-resident shareholders by Computershare Investor Services Inc. In order to receive the preferred treaty rate, you must complete and mail back the form as soon as possible. Failure to supply a completed NR301 form will result in Computershare withholding the statutory 25% withholding tax rate on any payments to Registered non-resident shareholders. You can also download the form here. Instructions on how to correctly complete the NR301 are on the back of the form. Shareholders who hold their shares through a broker should contact their broker directly. They do not need to return a form to Computershare.

Notice to all holders of Swedish Depository Receipts ("SDRs")

Dividend payments on SDRs will be made net of 25% Canadian withholding tax and any other Canadian and Swedish taxes deemed applicable under Canadian and Swedish law. SDR holders who are entitled to reclaim Canadian and/or Swedish tax under applicable tax treaties should contact the CRA and the Swedish Tax Agency, respectively, directly. SDR holders who hold their SDRs through a nominee should contact their nominee.

The content contained herein is not tax advice. Do not use or otherwise rely upon any of the content without first seeking independent tax advice.