Buenaventura Announces First Quarter 2025 Results for Production and Volume Sold per Metal

Compañía de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, today announced 1Q25 results for production and volume sold.

Production per Metal

Volume Sold per Metal

Average realized prices⁽¹⁾⁽²⁾

Commentary on Operations

Tambomayo:

• Gold and silver production slightly exceeded projections for the first quarter 2025, primarily due to higher than expected ore volumes processed.
• Zinc and lead production also exceeded expectations due to increased processed ore volumes and higher-than-anticipated ore grades from stopes in the bottom section of the mine.

Orcopampa:

• 1Q25 gold and silver were in line with expectations.

La Zanja:

• 1Q25 gold production was in line with expectations.
• Silver production exceeded 1Q25 projections due to higher than anticipated solubility.

Coimolache:

• 1Q25 gold production was in line with expectations.
• Silver production exceeded 1Q25 projections due to higher than anticipated silver grades.

Julcani:

• Silver output for 1Q25 was below estimates, primarily due to lower processed volumes from the Achilla area, as well as reduced grades from the Estela area as a result of increased dilution resulting from softer ground in the majority of the new stopes.
• Gold production was in line with expectations.

Uchucchacua:

• Silver production was in line with 1Q25 expectations.
• Lead and zinc output did not meet guidance due to lower-than-expected grades, attributable to changes in the mining sequence and softer ground that resulted in higher dilution.

Yumpag:

• Silver production exceeded 1Q25 projections, driven by higher grades from early access to high-grade stopes.

El Brocal:

• Copper and gold production was in line with expectations for 1Q25.
• Silver production outperformed guidance, due to higher than budgeted silver grades as part of a short-term plan prioritizing mining blocks with high silver content.

Company Description

Compañía de Minas Buenaventura S.A.A. is Peru’s largest, publicly traded precious and base metals Company and a major holder of mining rights in Peru. The Company is engaged in the exploration, mining development, processing and trade of gold, silver and other base metals via wholly-owned mines and through its participation in joint venture projects. Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Julcani*, Tambomayo*, La Zanja*, El Brocal and Coimolache).

The Company owns 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer (a partnership with Freeport-McMorRan Inc. and Sumitomo Corporation).

(*) Operations wholly owned by Buenaventura.

Note on Forward-Looking Statements

This press release may contain forward-looking information (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including those concerning Cerro Verde’s costs and expenses, results of exploration, the continued improving efficiency of operations, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future explorations, development and production, subsidiaries’ plans for capital expenditures, estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect the Company’s view with respect to Cerro Verde’s future financial performance. Actual results could differ materially from those projected in the forward-looking statements as a result of a variety of factors discussed elsewhere in this Press Release.

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