Buenaventura Announces Results for Third Quarter 2021 Production and Volume Sold per Metal

Compañia 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 3Q21 production and volume sold.

1. Above 2021 projections are considered forward-looking statements and represent management’s good faith estimates or expectations of future production results as of September 2021.

2. Updated guidance could potentially be adversely impacted by further COVID-19 effects.

3. As announced by Newmont on February 18, 2021.

• Tambomayo:
  
  
  
  3Q21 gold production was in line with expectations. 2021 gold guidance remains unchanged.
  
  
  
  The Company has increased its full year 2021 silver, lead and zinc production guidance.

• Orcopampa:
  
  
  
  3Q21 successful ramp-up with gold production in line with expectations. 2021 guidance remains unchanged.

• Coimolache:
  
  
  
  3Q21 gold production in line with expectations. The Company has increased it’s 2021 gold production guidance for Coimolache.

• La Zanja:
  
  
  
  3Q21 gold production exceeded expectations. The Company has increased its 2021 gold production guidance for La Zanja.

• Julcani:
  
  
  
  3Q21 silver production was in line with expectations. 2021 guidance remains unchanged.

• El Brocal:
  
  
  
  3Q21 production was in line with expectations. The Company has decreased its 2021 Gold and Zinc guidance slightly due to decreased processing plant recovery.

• Uchucchacua:
  
  
  
  3Q21 silver, lead and zinc production below expectations with decreased production due to suspended operations resulting from an illegal road blockade by members of the local community which began on September 13, 2021.
  
  
  
  Decreased 2021 silver production will be partially offset for the remainder of the year by increased production by other mining units.

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*, El Brocal, La Zanja and Coimolache).

The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership with Newmont Mining Corporation & Sumitomo Corporation), an important precious metal producer and 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer (a partnership with Freeport-McMorRan Inc., Sumitomo Corporation & Sumitomo Metals).

For a printed version of the Company’s 2018 Form 20-F, please contact the persons indicated above, or download a PDF format file from the Company’s web site. (*) 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 the Company’s, Yanacocha’s and 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 the Company’s, Yanacocha’s and 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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