LIMA, Peru, April 16, 2025--(BUSINESS WIRE)--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

Three Months Ended
March 31, 2025 2025
Guidance (1)  Gold ounces produced  El Brocal  4,627 15.5k - 18.5k Orcopampa  14,295 45.0k - 50.0k Tambomayo  3,034 12.5k - 15.5k Julcani  1,880 7.5k - 9.5k La Zanja  4,082 18.0k - 21.0k San Gabriel (4)  - 10.0k - 15.0k Total Direct Operations (2)  27,918 108.5k - 129.5k Coimolache  13,343 50.0k - 55.0k Total incl. Associated (3)  31,483 122.6k - 144.4k  Silver ounces produced  El Brocal  437,733 1.1M - 1.4M Uchucchacua  452,176 2.7M - 3.2M Yumpag  2,275,799 7.3M - 7.8M Orcopampa  5,109 - Tambomayo  161,393 1.2M - 1.5M Julcani  339,744 1.5M - 1.8M La Zanja  6,682 - Total Direct Operations (2)  3,678,636 13.8M - 15.7M Coimolache  89,568 0.2M - 0.3M Total incl. Associated (3)  3,545,714 13.5M - 15.3M  Lead metric tons produced  Uchucchacua  3,127 16.0k - 18.0k Tambomayo  503 - Julcani  127 0.8k - 1.0k Total Direct Operations (2)  3,757 16.8k - 19.0k  Zinc metric tons produced  Uchucchacua  5,272 23.0k - 26.0k Tambomayo  527 1.0k - 1.3k Total Direct Operations (2)  5,799 24.0k - 27.3k  Copper metric tons produced  El Brocal  12,063 55.0k - 60.0k Julcani  119 - Tambomayo  16 - Total Direct Operations (2)  12,198 55.0k - 60.0k

1. 2025 projections are considered to be forward-looking statements and represent management’s good faith estimates or expectations of future production results as of April 2025. 2. Considers 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal. 3. Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 61.43% of El Brocal and 40.094% of Coimolache. 4. 4Q25 targeted production initiation remains unchanged, subject to final permitting and required approvals

Volume Sold per Metal

Three Months Ended March 31, 2025  Gold ounces sold  El Brocal 2,668 Orcopampa 14,746 Tambomayo 2,691 Julcani 1,674 La Zanja 4,633 Total Direct Operations (1) 26,412 Coimolache 11,430 Total incl. Associated (2) 29,965  Silver ounces sold  El Brocal 359,921 Uchucchacua 496,799 Yumpag 2,187,357 Orcopampa 6,483 Tambomayo 145,701 Julcani 320,277 La Zanja 24,865 Total Direct Operations (1) 3,541,403 Coimolache 78,726 Total incl. Associated (2) 3,434,146  Lead metric tons sold  Uchucchacua 2,936 Yumpag 39 Tambomayo 386 Julcani 109 Total Direct Operations (1) 3,470  Zinc metric tons sold  Uchucchacua 4,362 Tambomayo 432 Total Direct Operations (1) 4,794  Copper metric tons sold  El Brocal 11,324 Tambomayo 66 Julcani 9 Total Direct Operations (1) 11,400

1. Considers 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal. 2. Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 61.43% of El Brocal and 40.094% of Coimolache.

Average realized prices(1)(2)

Three Months Ended March 31, 2025  Gold (US$/Oz) 2,943 Silver (US$/Oz) 32.22 Lead (US$/MT) 1,893 Zinc (US$/MT) 2,812 Copper (US$/MT) 9,292

1. Considers Buenaventura consolidated figures. 2. Realized prices include both provisional sales and final adjustments for price changes.

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.

Story Continues

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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Contacts

Contacts in Lima:
Daniel Dominguez, Chief Financial Officer
(511) 419 2540

Sebastián Valencia, Head of Investor Relations
(511) 419 2591
[email protected]

Contact in New York:
Barbara Cano, InspIR Group
1 (646) 452 2334
[email protected]

Website: buenaventura.com/en/inversionista/

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