Volcan Compañía Minera A : OTROS HECHOS DE IMPORTANCIA INFORMACIÓN FINANCIERA Y MEMORIA ANUAL. INFORMACIÓN FINANCIERA Y MEMORIA ANUAL. CAMBIOS EN EL DIRECTORIO Y GERENCIA GENERAL Y/O SUS ÓRGANOS EQUIVALENTES. OTROS HECHOS DE IMPORTANCIA CAMBIOS EN EL DIRECTORIO Y GERENCIA GENERAL Y/O SUS ÓRGANOS EQUIVALENTES.

Volcan Compañía Minera S.A.A. and Subsidiaries

Consolidated interim financial information (unaudited) as of

March 31, 2023 and 2022

Firmado Digitalmente por:

CARLOS FRANCISCO FERNANDEZ

NAVARRO

Fecha: 02/05/2023 09:41:00 p.m.

Volcan Compañía Minera S.A.A. and Subsidiaries

Consolidated Statement of Financial Position

As of March 31, 2023 (unaudited) and as of December 31, 2022 (audited)

		March 31,	December 31,
	Note	2023	2022
		US$(000)	US$(000)
Assets
Current Assets
Cash and cash equivalents	4	67,164	73,600
Accounts receivable Trade, net		10,553	19,191
Accounts receivable from related entities		6,805	9,395
Other accounts receivable		67,440	65,389
Inventories, net	5	57,390	57,093
Total current assets		209,352	224,668
Non-current Assets
Other accounts receivable		36,136	34,262
Financial investments		189,395	186,505
Property, plant and equipment, net	7	795,454	812,912
Assets by right of use	8	13,578	11,385
Mining exploration and evaluation cost, net	9	698,152	699,938
Inventories, net	5	6,075	6,218
Total non-current assets		1,738,790	1,751,220
Total assets		1,948,142	1,975,888
Liabilities and Net Stockholders' Equity
Current Liabilities
Overdrafts		1,217	198
Financial obligations	10	28,881	34,697
Trade accounts payable		222,576	251,239
Accounts payable to related entities		8,419	7,833
Other accounts payable		73,943	67,036
Total current liabilities		335,036	361,003
Non-current Liabilities
Financial obligations	10	775,095	776,771
Other accounts payable		1,600	3,200.00
Provision for closing of mining units and communities		292,162	292,895
Deferred income tax liability	11	132,916	136,277
Provision for contingencies		33,342	30,389
Total non-current liabilities		1,235,115	1,239,532
Total liabilities		1,570,151	1,600,535
Equity
Issued capital	12	906,680	1,134,300
Treasury stock		(60,934)	(60,934)
Other capital reserves		(173,234)	(173,234)
Capital reserve		9,709	10,695
Unrealized gains (loss)		(7,595)	(9,436)
Retained earnings		(296,635)	(526,038)
Total net stockholders' equity		377,991	375,353
Total liabilities and net stockholders' equity, net		1,948,142	1,975,888

The accompanying notes are an integral part of this statement.

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Volcan Compañía Minera S.A.A. and Subsidiaries

Consolidated Income Statement (unaudited)

For the period from January 1, to March 31, 2023 and 2022

	For the period from
	January
	1 to March 31
	2023	2022
	US$(000)	US$(000)
Sales, Note 13	221,092	279,399
Cost of Sales, Note 14	(174,200)	(186,940)
Gross Income	46,892	92,459
Operating income (expenses)
Administrative expenses	(13,708)	(17,014)
Selling expenses	(7,408)	(5,414)
Other income	15,141	15,565
Other expenses	(19,637)	(18,728)
	(25,612)	(25,591)
Operating income	21,280	66,868
Financial income (expenses)
Financial income, Note 15	1,809	820
Financial expenses, Note 15	(16,882)	(12,988)
Exchange difference, net	100	(324)
Total other income (expenses), net	(14,973)	(12,492)
Income before income tax	6,307	54,376
Income tax, Note 11 (b)	(5,510)	(16,210)
Net income	797	38,166
Net earnings per share	0.000	0.010
Weighted average of outstanding shares (in	3,857,594	3,857,594
thousands)

The accompanying notes are an integral part of this statement.

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Volcan Compañía Minera S.A.A. and Subsidiaries

Consolidated Statement of Comprehensive Income (unaudited)

For the period from January 1 to March 31, 2023 and 2022

	For the cumulative
	period from January
	1 to March 31
	2023	2022
	US$(000)	US$(000)
Net income	797	38,166
Others comprehensive income (loss):
Net change in gains (losses) unrealized on Financial	2,611	3,224
investments
Income tax	(770)	(951)
Other comprehesive income (loss) net of income tax	1,841	2,273
Total comprehesive income	2,638	40,439

The accompanying notes are an integral part of this statement.

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Volcan Compañía Minera S.A.A. and Subsidiaries

Statement of changes in the Net Stockholders' Equity (unaudited)

For the period from January 1 to March 31, 2023 and 2022

	Capital Issued	Treasury stock	Other capital	Capital reserve	Unrealized	Retained	Total
	reserves	gains (loss)	earnings
	US$(000)	US$(000)	US$(000)	US$(000)	US$(000)	US$(000)	US$(000)
Balances as of January 1, 2022	1,134,300	(60,934)	10,695	(173,234)	(9,504)	(444,656)	456,667
	-	-	-	-	-	-	-
Results integrals
Net Income of year	-	-	-	-	-	38,166	38,166
Other results integrals of year	-	-	-	-	2,273	-	2,273
Total results integrals of year	-	-	-	-	2,273	38,166	40,439
Balances as of December 31, 2022	1,134,300	(60,934)	10,695	(173,234)	(7,231)	(406,490)	497,106
Balances as of January 1, 2023	1,134,300	(60,934)	10,695	(173,234)	(9,436)	(526,038)	375,353
Results integrals
Net loss of year	-	-	-	-	-	797	797
Other results integrals of year	-	-	-	-	1,841	-	1,841
Total results integrals of year	-	-	-	-	1,841	797	2,638
Capital reduction	(227,620)	-	(986)	-	-	228,606	-
Balances as of March 31, 2023	906,680	(60,934)	9,709	(173,234)	(7,595)	(296,635)	377,991

The accompanying notes are an integral part of this statement.

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