Compañía de Minas Buenaventura A : 1Q24 Conference Call

1Q24

Earnings Results Conference Call

Cautionary Statement

This presentation contains certain information that may constitute forward-looking information under applicable U.S. securities legislation, including but not limited to information about costs applicable to sales, general and administrative expenses; production volumes; current expectations on the timing, extent and success of exploration; development and metallurgical sampling activities, the timing and success of mining operations and the optimization of mine plans. This forward-looking information entails various risks and uncertainties that are based on current expectations, and actual results may differ materially from those contained within said information. These uncertainties and risks include, but are not limited to, the strength of the global economy, the price of commodities; operational, funding and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; the degree to which factors which would make a mineral deposit commercially viable are present, and other risks and hazards associated with mining operations. Risks and uncertainties about the Company's business are more fully discussed in the BVN's form 20-F filed with the Securities and Exchange Commission in the U.S. and available at www.sec.gov . Readers are urged to read these materials. Buenaventura assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by law.

Strong 1Q24 Earnings: Improved performance at El Brocal and Yumpag

EBITDA Direct Operations

In US$ millions

Consolidated Production(1)

1Q24 CAPEX in San Gabriel reached

US$ 38 M

38%

94.5

+83%

Cu (kton)

12.2 +26%

15.4

Final mining permit for

28%
51.6
1Q23	1Q24

= EBITDA Margin

1Q24 Operating Income

US$ 46.9 M

(vs. US$ 12.6M 1Q23)

		1.3	+143%
Ag (MOz)

3.1

38.1 -4%

Au (kOz)

36.5

		1Q23		1Q24

Cerro Verde distributed dividends of

US$ 29 M

on April 26. (BVN´s Equity).

Yumpag was approved on March 18.

Cash Position: US$ 174M

Debt: US$ 699M

Leverage Ratio

4.04x

3.10x

2.48x

2.05x 1.87x

1Q23

2Q23

3Q23

4Q23

1Q24

Note: (1) Consolidated figures includes 100% BVN, 100% La Zanja and 100% El Brocal.	3

Efficiency in Action: Reducing costs through Operational Excellence

Copper All-in Sustaining Cost (1)

Cost Applicable to Sales

In US$/TMF-Cu

7,369

↓58%

3,119

1Q231Q24

Copper

Silver

Gold

US$/TMF-Cu

US$/Oz-Ag

US$/Oz-Au

6,738

6,227 6,031

5,353

5,047

1Q23

2Q23

3Q23

4Q23

1Q24

24.4

21.5 22.0

14.7 14.9

1Q23	2Q23	3Q23	4Q23	1Q24
		1,252
1,124	1,139		1,145
			1,092

1Q23

2Q23

3Q23

4Q23

1Q24

El Brocal:

Aligned with 11ktpd ramp-up plan in underground mine by the end of 2024.

Uchuchacua & Yumpag:

1.5MOz-Ag additional production during 1Q24

El Brocal:

Higher grades and ore milled

Orcopampa & Tambomayo:

Lower grades

Note: (1) Consolidated figures considers 100% BVN, 100% La Zanja and 100% El Brocal

Free cash flow generation(1)

1Q24 Cash generation		1Q24 EBITDA to FCF reconciliation
In US$ millions		In US$ millions

Note: (1) Consolidated figures considers 100% BVN, 100% La Zanja and 100% El Brocal

San Gabriel: Our next large gold project

Item	Description		Cumulative progress:
2Q23	3Q23	4Q23	1Q24
1	Engineering	81%	90%	92%	94%
2	Procurement	85%	89%	89%	94%
3	Construction	7%	14%	27%	37%
4	Commissioning	0%	0%	0%	0%
	Total	23%	28%	38%	47%

Highlights

Project Milestones

Start of UG	Concrete Plant	Start of mine
mining	installation	development
contractor	completed	tunnelling

3Q23 4Q23 1Q24 2Q24E

Start of	Processing	San Gabriel	Start of
Fresh water	Plant platform	campsite	SAG Mill
Dam	completed	completed	assembly

• 1Q24 CAPEX reached US$ 38.4 M.
• Full installation and operation of the concrete plant.
• The definitive campsite has been fully completed.
• Initial phase of underground mine rehabilitation,
  focusing on the main ramp, has also concluded.

Reserves

1.9 MOz-Au

+14 years LOM

Resources

1.7 MOz-Au

+14 years LOM

6

San Gabriel: Our next large gold project

Definite Campsite Completed

• Fully operational since February.

• More than 2,000 sleeping beds.

• Water treatment plant.

• Operating offices.

• Kitchen and dining areas.

San Gabriel: Our next large gold project

Milling area

San Gabriel: Our next large gold project

Thickener

Closing Remarks

1

2

3

4

With final mining permit approved in Yumpag, we can now focus on achieving stable and efficient production at 1,000 tpd.

Excellent performance at El Brocal, in line with plan to reach 11ktpd by the end of the year, supported by a positive trend in copper prices.

The San Gabriel project achieved a 47% overall progress, meeting our planned targets. On track as we aim for our first gold bar by 2H25. Currently reassessing the project's CAPEX to ensure an accurate total cost while identifying opportunities to optimize the construction.

We continue our efforts to transform our mining operations into assets with +10 years of LOM and focus on optimizing them to achieve greater cost efficiency.