Earnings release
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1 Buenaventura Announces Third Quarter and Nine-month 2025 Results Lima, Peru, October 30, 2025 – 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 results for the third quarter ( 3Q25) and nine-month period ended September 30, 2025 (9M25). All figures have been prepared in accordance with IFRS (International Financial Reporting Standards) on a non -GAAP basis and are stated in U.S. dollars (US$). Third Quarter and Nine-Month 2025 Highlights: • Buenaventura's 3Q25 consolidated silver production decreased by 3% YoY due to lower production at Uchucchacua and Yumpag, partially offset by increased production at El Brocal and Julcani. Gold production decreased by 21% YoY due to decreased output at Orcopampa and Tambomayo. Copper production decreased by 24% YoY. In 3Q24, all stockpiled ore was processed from El Brocal’s 2Q24 voluntary temporary processing plant suspension. • 3Q25 EBITDA from direct operations was US$ 202.1 million, compared to US$ 136.5 million reported in 3Q24 which excluded the sale of Chaupiloma Royalty Company. 9M25 EBITDA from direct operations reached US$ 458.5 million, compared to US$ 338.2 million reported in 9M24, which excluded the sale of Chaupiloma Royalty Company. • 3Q25 net income reached US$ 179.0 million, compared to US$ 244.4 million for the same period in 2024, which included the sale of Chaupiloma Royalty Company. 9M25 net income was US$ 424.2 million, compared to US$ 385.9 million in net income for the 9M24 , which included the sale of Chaupiloma Royalty Company. • 3Q25 CAPEX related to San Gabriel was US$ 92.3 million, allocated to completing the processing plant’s construction to enable the commencement of commercial production in 4Q25. • Buenaventura's cash position reached US$ 485.7 million by quarter’s end, September 30, 2025, while net debt amounted to US$ 224.9 million, resulting in a Leverage Ratio of 0.41x. • On September 5, 2025, the Peruvian Ministry of Energy and Mines granted Coimolache a new operating permit authorizing fresh ore placement on a new level of Tantahuatay ’s leach platform and on additional adjacent surface areas. This milestone marks the initiation of full- capacity production at both the mine and the leach pad. • Buenaventura’s Board of Directors has approved a dividend payment of US$ 0. 1446 per share/ADS. Financial Highlights (in millions of US$, excluding EPS): 3Q25 3Q24 Var % 9M25 9M24 Var % Total Revenues 431.0 331.1 30% 1,108.2 855.0 30% Operating Income 154.3 286.4 -46% 336.1 399.9 -16% EBITDA Direct Operations (1) 202.1 136.5 48% 458.5 338.2 36% EBITDA Including Affiliates 345.5 242.1 43% 837.3 664.7 26% Net Income (2) 167.1 236.9 -29% 398.5 369.1 8% EPS (3) 0.66 0.93 -29% 1.57 1.45 8% (1) Does not include US$ 208.9 million from the sale of Chaupiloma Royalty Company in 3Q24. (2) Net Income attributable to owners of the parent. (3) As of September 30, 2025, Buenaventura had a weighted average number of shares outstanding of 253,986,867.
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2 CAPEX 3Q25 capital expenditures were US$ 133.1 million, compared to US$ 98.0 million for the same period in 2024. CAPEX for the quarter includes US$ 92.3 million for the San Gabriel Project, US$ 8.7 million for the Trapiche Project, and US$ 32.1 million in sustaining capex. 9M25 capital expenditures reached US$ 275.9 million, compared to US$ 240.1 million in 9M24. Operating Revenues 3Q25 net sales reached US$ 431.0 million, compared to US$ 331.1 million in 3Q24. Increased net sales were driven by higher gold, silver, and copper prices during the quarter, as well as an increase in silver volume sold compared to 3Q24. Additionally, Buenaventura commercialized 2,289 MT of Cerro Verde’s contained copper, resulting in approximately US$24.7 million in net revenue. The Company recorded a positive US$ 18.0 million provisional price adjustment for 3Q25. This is comprised of a US$ 6.5 million increase in fair value of accounts receivables and a US$ 11.5 million increase in adjustments to prior period liquidations in 3Q25. This compares to a negative US$ 1.0 million adjustment for the 3Q24. Operating Highlights 3Q25 3Q24 Var % 9M25 9M24 Var % Net Sales (millions of US$) 431.0 331.1 30% 1,108.2 855.0 30% Average Gold Price (US$/oz.) Direct Operations(1) (2) 3,594 2,514 43% 3,287 2,323 41% Average Gold Price (US$/oz.) incl Associated(2) (3) 3,580 2,517 42% 3,284 2,312 42% Average Silver Price (US$/oz.)(1) (2) 40.81 29.92 36% 36.08 28.14 28% Average Lead Price (US$/MT)(1) (2) 1,903 2,082 -9% 1,892 2,078 -9% Average Zinc Price (US$/MT)(1) (2) 2,811 2,883 -2% 2,710 2,618 4% Average Copper Price (US$/MT)(1) (2) 9,989 9,391 6% 9,632 9,124 6% Volume Sold 3Q25 3Q24 Var % 9M25 9M24 Var % Gold Oz Direct Operations(1) 28,038 35,345 -21% 78,661 100,151 -21% Gold Oz incl. Associated(3) 33,424 38,733 -14% 94,018 115,598 -19% Silver Oz(1) 4,121,632 3,875,123 6% 11,110,268 10,676,849 4% Lead MT(1) 4,586 4,455 3% 12,341 13,129 -6% Zinc MT(1) 5,973 5,995 0% 17,266 18,417 -6% Copper MT(1) 14,223 15,622 -9% 42,481 39,883 7% (1) Buenaventura Consolidated figure includes 100% of Buenaventura’s operating units, 100% of La Zanja, 100% of El Brocal and 100% of Buenaventura Trading. (2) Realized prices include both provisional sales and final adjustments for price changes. (3) Considers 100% of Buenaventura’s operating units, 100% of La Zanja, 100% of El Brocal, 100% of Buenaventura Trading and 40.094% of Coimolache. Production and Operating Costs Buenaventura’s 3Q25 equity gold production was 34,950 ounces, compared to 39,690 ounces produced in 3Q24. This decrease was primarily due to decreased production at Orcopampa and Tambomayo, which was partially offset by increased production at Coimolache. 3Q25 silver production was 4,041,451 ounces, compared to 4,228,250 ounces produced in 3Q24. This
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3 decrease was primarily due to lower production at Uchucchacua and Yumpag, partially offset by increased production at El Brocal and Julcani. 3Q25 lead production was 4,944 MT, compared to 4,953 MT produced in 3Q24. 3Q25 zinc production was 7,036 MT, compared to 7,374 MT produced in 3Q24. The Company’s 3Q25 equity copper production was 28,159 MT, compared to 32,352 MT produced in 3Q24, due to decreased production at El Brocal and Cerro Verde. Equity Production 3Q25 3Q24 Var % 9M25 9M24 Var % Gold Oz Direct Operations(1) 28,953 36,335 -20% 80,277 102,637 -22% Gold Oz including Associated Companies(2) 34,950 39,690 -12% 96,896 118,095 -18% Silver Oz(1) 4,041,451 4,228,250 -4% 10,964,140 10,859,769 1% Lead MT(1) 4,944 4,953 0% 13,191 14,523 -9% Zinc MT(1) 7,036 7,374 -5% 20,585 21,774 -5% Copper MT Direct Operations(1) 7,902 10,444 -24% 23,597 26,388 -11% Copper MT including Associated Companies(3) 28,159 32,352 -13% 81,730 90,009 -9% Consolidated Production 3Q25 3Q24 Var % 9M25 9M24 Var % Gold Oz(4) 30,894 38,909 -21% 86,155 109,321 -21% Silver Oz(4) 4,278,658 4,427,457 -3% 11,520,791 11,516,207 0% Lead Pb(4) 4,988 4,953 1% 13,235 14,523 -9% Zinc MT(4) 7,065 7,374 -4% 20,615 22,540 -9% Copper MT(4) 12,770 16,912 -24% 38,162 42,716 -11% (1) Buenaventura’s Direct Operations includes 100% of Buenaventura’s operating units, 100% of La Zanja and 61.43% of El Brocal. (2) Based on 100% of Buenaventura´s operating units, 100% of La Zanja, 61.43% of El Brocal and 40.09 4% of Coimolache. (3) Based on 100% of Buenaventura´s operating units, 61.43% of El Brocal and 19.58% of Cerro Verde. (4) Based on 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal. Tambomayo (100% owned by Buenaventura) Production 3Q25 3Q24 Var % 9M25 9M24 Var % Gold Oz 4,954 8,015 -38% 10,973 26,072 -58% Silver Oz 380,818 434,054 -12% 733,392 1,143,490 -36% Cost Applicable to Sales 3Q25 3Q24 Var % 9M25 9M24 Var % Gold US$/Oz 2,762 1,469 88% 2,822 1,430 97% Tambomayo 3Q25 gold production decreased by 38% year on year and silver production decreased by 12% year on year primarily due to decreased ore volumes processed during the quarter. Gold and silver production was in line with expectations, as high-grade oxide ore processing successfully began, as was reported in 2Q25. Cost Applicable to Sales (CAS) increased to 2,762 US$/Oz in 3Q25 from 1,469 US$/Oz in 3Q24 primarily due to lower sales volumes.
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4 Orcopampa (100% owned by Buenaventura) Production 3Q25 3Q24 Var % 9M25 9M24 Var % Gold Oz 13,314 17,831 -25% 39,878 54,426 -27% Silver Oz 3,827 6,891 -44% 15,462 22,857 -32% Cost Applicable to Sales 3Q25 3Q24 Var % 9M25 9M24 Var % Gold US$/Oz 1,508 1,242 21% 1,544 1,167 32% 3Q25 gold and silver production at Orcopampa decreased by 25% and 44% year on year, respectively, primarily due to decreased ore volumes processed during the quarter, consistent with the 2025 planned mining sequence. CAS increased to 1,508 US$/Oz in 3Q25 compared to 1,242 US$/Oz in 3Q24 due to decreased volume sold. Coimolache (40.09% owned by Buenaventura) Production 3Q25 3Q24 Var % 9M25 9M24 Var % Gold Oz 14,958 8,368 79% 41,450 38,554 8% Silver Oz 68,362 38,705 77% 236,850 178,341 33% Cost Applicable to Sales 3Q25 3Q24 Var % 9M25 9M24 Var % Gold US$/Oz 1,420 2,142 -34% 1,411 1,512 -7% Coimolache 3Q25 gold and silver production increased by 79% and 77% year on year, respectively, primarily due to an increase in ore volumes processed during the quarter following the initiation of full-capacity operations at the mine and leach pad in early September 2025. This result exceeded expectations as the permit was originally anticipated by late September. CAS decreased to 1,420 US$/Oz in 3Q25 from 2,142 US$/Oz in 3Q24, mainly due to the increased volume sold resulting from higher production. Uchucchacua & Yumpag (100% owned by Buenaventura) Production 3Q25 3Q24 Var % 9M25 9M24 Var % Silver - Uchucchacua Oz 585,095 608,412 -4% 1,548,887 1,524,944 2% Silver - Yumpag Oz 2,312,100 2,591,227 -11% 6,742,691 6,017,839 12% Zinc MT 6,395 6,153 4% 18,539 16,521 12% Lead MT 4,055 3,865 5% 10,752 10,812 -1% Cost Applicable to Sales 3Q25 3Q24 Var % 9M25 9M24 Var % Silver US$/Oz 14.95 14.19 5% 14.25 12.66 13% Uchucchacua’s 3Q25 silver production decreased by 4% year on year, in line with expectations. Zinc and lead production increased by 4% and 5% year on year, respectively. These results reflect the revised mine plan the Company implemented in 2Q25. Mining activities during 3Q25 remained focused on polymetallic stopes, a strategic decision that supports ongoing water pumping and ancillary works but which shifts targeted mining to polymetallic stopes, from the prior target of mining bottom-level stope s with higher silver content. Water pumping activities were completed during 3Q25, and ancillary works are expected to conclude in 4Q25. This enables the team to begin to backfilling the mine’s bottom zones with tailings slurry during 4Q25, and access to higher silver -
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5 grade areas will be achievable in 2026 as part of the full year mine plan. This process is intended to reduce voids in previously mined areas at the bottom of the mine, enhancing their structural stability and conditioning nearby zones for future operation s. These works are expected to be completed by 2Q26. Yumpag’s 3Q25 silver production decreased by 11% year on year, due to a decrease in ore volumes processed during the quarter and lower silver grades . However, production exceeded 3Q25 projections, reflecting the successful implementation of the new Over-Drift-Fill (ODF) mining method introduced in 2Q25. The ODF method enables higher ore recovery and improved selectivity, while reducing surface subsidence and the generation of surface tailings. 3Q25 silver CAS increased to 14.95 US$/Oz, from 14.19 US$/Oz , primarily due to higher cost of sales related to the treatment of increased ore volumes with lower grades, and higher selling expenses, partially offset by an increase in volume sold. Julcani (100% owned by Buenaventura) Production 3Q25 3Q24 Var % 9M23 9M24 Var % Silver Oz 366,120 261,492 40% 1,005,561 1,090,232 -8% Cost Applicable to Sales 3Q25 3Q24 Var % 9M25 9M24 Var % Silver US$/Oz 24.61 35.34 -30% 24.51 27.10 -10% 3Q25 silver production at Julcani increased by 40% year on year, which was below expectations, primarily due to the transition to mining zones richer in gold and copper. 3Q25 gold production increased by 72% year on year. CAS decreased to 24.61 US$/Oz in 3Q25 from 24.51 US$/Oz in 3Q24, primarily due to the increased volume sold resulting from increased production. El Brocal (61.43% owned by Buenaventura) Production 3Q25 3Q24 Var % 9M25 9M24 Var % Copper MT 12,621 16,769 -25% 37,763 42,334 -11% Silver Oz 615,004 516,480 19% 1,443,222 1,701,940 -15% Cost Applicable to Sales 3Q25 3Q24 Var % 9M25 9M24 Var % Copper US$/MT 6,074 6,054 0% 6,299 6,041 4% El Brocal's 3Q25 copper production decreased by 25% year on year . In 3Q24, all stockpiled ore was processed from El Brocal’s 2Q24 voluntary temporary processing plant suspension. 3Q25 silver production increased by 19% year on year, reflecting the Company’s short -term strategy of prioritizing the processing of stockpiles with high precious metals content. During the quarter, the Company processed lead -silver ore previously classified as low grade, which was re -evaluated based on current market conditions and incorporated into the production plan. This material had significant silver content and copper ore throughput was therefore reduced, resulting in a slight decrease in copper production volumes for the quarter. 3Q25 copper CAS was consistent with 3Q24, primarily reflecting cost reductions proportional to lower sales volumes.
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6 Share in Associated Companies Buenaventura’s share in associated companies was US$ 63.5 million in 3Q25, compared with US$ 49.8 million in 3Q24, comprised of: Cerro Verde (19.58% owned by Buenaventura) 3Q25 copper production at Cerro Verde was 103,457 MT, 20,257 MT of which is attributable to Buenaventura; a 7.5% decrease as compared to 111,891 MT produced in 3Q24, 21,908 MT of which was attributable to Buenaventura. Cerro Verde reported net income of US$ 323.9 million in 3Q25, compared to US$ 253.6 million in 3Q24. This year on year increase was primarily driven by a US$ 138.2 million increase in sales, attributed to higher realized copper and molybdenum prices. This was partially offset by a US$ 38.3 million increase in income tax expense and a US$20.8 million increase in cost of sales, primarily due to higher stripping cost depreciation. Cerro Verde 3Q24 capital expenditure was US$ 104.5 million. Coimolache (40.09% owned by Buenaventura) Coimolache reported a US$ 20.5 million net income in 3Q25, compared to a US$ 2.0 million net loss in 3Q24. San Gabriel Project 3Q25 capital expenditures related to San Gabriel were US$ 92.3 million . Throughout the quarter, Buenaventura prioritized the completion of the processing plant’s construction to enable the commencement of commercial production in 4Q25. Targeted production initiation for the 4Q25 therefore remains unchanged, subject to final permitting and required approvals. Crushing, grinding and leaching tanks commissioning C1/C2 nearly completed. C3/C4 commissioning is scheduled for completion in 4Q25 . Mine development has been finalized, and mining preparation activities have commenced using Buenaventura’s mine fleet. Item Description Cumulative Progress as of: 4Q24 1Q25 2Q25 3Q25 1 Engineering 100% 100% 100% 100% 2 Procurement 100% 100% 100% 100% 3 Construction 63% 75% 86% 95% 4 Commissioning 3% 10% 24% 65% Total 71% 79% 88% 96% *** Share in the Result of Associates (in millions of US$) 3Q25 3Q24 Var % 9M25 9M24 Var % Cerro Verde 63.5 49.8 28% 166.8 147.2 13% Coimolache 8.0 -0.7 N.A. 19.9 3.4 483% Other minor -0.3 -0.4 N.A. 0.3 -0.5 N.A. Total 71.1 48.7 46% 187.1 150.2 25%
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7 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 o ther 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). For a printed version of the Company’s 202 3 Form 20-F, please contact the investor relations contacts on page 1 of this report or download the PDF format file from the Company’s web site at www.buenaventura.com. (*) Operations wholly owned by Buenaventura Note on Forward-Looking Statements This press release and related conference call contain, in addition to historical information, forward -looking statements including statements related to the Company’s ability to manage its business and liquidity during and after the COVID -19 pandemic, the impact of the COVID-19 pandemic on the Company’s results of operations, including net revenues, earnings and cash flows, the Company’s ability to reduce costs and capital spending in response to the COVID-19 pandemic if needed, the Company’s balance sheet , liquidity and inventory position throughout and following the COVID -19 pandemic, the Company’s prospects for financial performance, growth and achievement of its long -term growth algorithm following the COVID-19 pandemic, future dividends and share repurchases. This press release may also 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, 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, 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. **Tables to follow** APPENDIX 1 Equity Participation in Subsidiaries and Associates (as of September 30, 2025) BVN Operating Equity % Mines / Business El Molle Verde S.A.C* 100.00 Trapiche Project Minera La Zanja S.A* 100.00 La Zanja Sociedad Minera El Brocal S.A.A* 61.43 Colquijirca and Marcapunta Compañía Minera Coimolache S.A** 40.09 Tantahuatay Sociedad Minera Cerro Verde S.A.A** 19.58 Cerro Verde Processadora Industrial Rio Seco S.A* 100.00 Rio Seco chemical plant Consorcio Energético de Huancavelica S.A* 100.00 Energy – Huanza Hydroelectrical plant Buenaventura Trading SAS* 100.00 Trading (*) Consolidated (**) Equity Accounting
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8 APPENDIX 2 Gold Production 15 18 Mining Unit Operating Results Unit 3Q25 3Q24 △% 9M25 9M24 △ % Underground Ore Milled DMT 118,484 146,457 -19% 274,715 427,016 -36% Ore Grade Gr/MT 1.72 2.04 -15% 1.60 2.23 -28% Recovery Rate % 75.58 83.61 -10% 77.89 85.29 -9% Ounces Produced Oz 4,954 8,015 -38% 10,973 26,072 -58% Ore Milled DMT 52,256 101,685 -49% 166,809 249,813 -33% Ore Grade Gr/MT 8.44 5.87 44% 7.86 7.20 9% Recovery Rate % 93.84 92.84 1% 94.61 94.09 1% Ounces Produced* Oz 13,314 17,831 -25% 39,878 54,426 -27% Ore Milled DMT 976,139 1,223,279 -20% 3,023,547 2,963,932 2% Ore Grade Gr/MT 0.57 0.58 -2% 0.56 0.68 -16% Recovery Rate % 28.03 29.08 -4% 27.76 26.66 4% Ounces Produced* Oz 5,032 6,673 -25% 15,240 17,165 -11% Julcani Pb - Ag Ounces Produced Oz 205 55 269% 446 254 76% Julcani Cu - Au Ounces Produced Oz 2,248 1,372 64% 5,970 2,585 131% Open Pit La Zanja Ounces Produced Oz 5,143 4,963 4% 13,648 8,655 58% Tajo Norte Cu - Ag Ounces Produced Oz - - N.A. - 164 N.A. Coimolache Ounces Produced Oz 14,958 8,368 79% 41,450 38,554 8% Silver Production Mining Unit Operating Results Unit 3Q25 3Q24 △% 9M25 9M24 △ % Underground Ore Milled DMT 118,484 146,457 -19% 274,715 427,016 -36% Ore Grade Oz/MT 3.80 3.34 14% 3.14 3.01 4% Recovery Rate % 84.66 88.65 -5% 85.02 88.84 -4% Ounces Produced Oz 380,818 434,054 -12% 733,392 1,143,490 -36% Ore Milled DMT 52,256 101,685 -49% 166,809 249,813 -33% Ore Grade Oz/MT 0.11 0.12 -13% 0.13 0.15 -9% Recovery Rate % 69.03 55.52 24% 69.76 62.71 11% Ounces Produced Oz 3,827 6,891 -44% 15,462 22,857 -32% Ore Milled DMT 159,153 138,469 15% 461,238 351,929 31% Ore Grade Oz/MT 4.57 5.39 -15% 4.22 5.25 -20% Recovery Rate % 80.42 81.46 -1% 79.53 82.58 -4% Ounces Produced Oz 585,095 608,412 -4% 1,548,887 1,524,944 2% Ore Milled DMT 97,811 95,412 3% 276,643 221,156 25% Ore Grade Oz/MT 24.84 28.93 -14% 25.56 29.12 -12% Recovery Rate % 95.15 93.88 1% 95.35 93.46 2% Ounces Produced Oz 2,312,100 2,591,227 -11% 6,742,691 6,017,839 12% Ore Milled DMT 16,433 11,661 41% 43,709 55,455 -21% Ore Grade Oz/MT 14.64 13.82 6% 14.83 16.12 -8% Recovery Rate % 95.91 96.89 -1% 96.52 97.04 -1% Ounces Produced* Oz 230,802 156,116 48% 625,703 867,703 -28% Ore Milled DMT 22,558 13,787 64% 59,205 25,440 133% Ore Grade Oz/MT 6.20 7.97 -22% 6.61 9.05 -27% Recovery Rate % 96.79 95.93 1% 97.01 96.64 0% Ounces Produced Oz 135,318 105,376 28% 379,859 222,529 71% Ore Milled DMT 976,139 1,223,279 -20% 3,023,547 2,963,932 2% Ore Grade Oz/MT 0.80 0.82 -2% 0.75 0.81 -7% Recovery Rate % 57.53 51.76 11% 56.37 51.59 9% Ounces Produced Oz 448,308 516,480 -13% 1,276,526 1,231,418 4% Open Pit Ore Milled DMT - - N.A. - 209,668 N.A. Ore Grade Oz/MT - - N.A. - 3.47 N.A. Recovery Rate % - - N.A. - 52.19 N.A. Ounces Produced Oz - - N.A. - 379,333 N.A. Ore Milled DMT 123,353 - N.A. 123,353 84,369 46% Ore Grade Oz/MT 3.50 - N.A. 3.50 3.15 11% Recovery Rate % 38.66 - N.A. 38.66 34.30 13% Ounces Produced Oz 166,696 - N.A. 166,696 91,190 83% La Zanja Ounces Produced Oz 15,694 8,901 76% 31,575 14,904 112% Coimolache Ounces Produced Oz 68,362 38,705 77% 236,850 178,341 33% Tambomayo Tambomayo Orcopampa Orcopampa Marcapunta Julcani Pb - Ag Julcani Cu - Au Uchucchacua Yumpag Tajo Norte Pb - Zn Marcapunta Tajo Norte Cu - Ag
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9 Lead Production Mining Unit Operating Results Unit 3Q25 3Q24 △% 9M25 9M24 △ % Underground Ore Milled DMT 118,484 146,457 -19% 274,715 427,016 -36% Ore Grade % 0.63 0.75 -16% 0.81 0.83 -2% Recovery Rate % 83.36 88.91 -6% 84.72 86.94 -3% MT Produced MT 626 979 -36% 1,895 3,093 -39% Ore Milled DMT 159,153 138,469 15% 461,238 351,929 31% Ore Grade % 2.80 3.05 -8% 2.57 3.37 -24% Recovery Rate % 91.11 91.57 0% 90.61 91.21 -1% MT Produced MT 4,055 3,865 5% 10,752 10,812 -1% Ore Milled DMT 16,433 11,661 41% 43,709 55,455 -21% Ore Grade % 1.25 0.98 27% 1.15 1.17 -2% Recovery Rate % 94.15 94.89 -1% 94.38 95.09 -1% Ounces Produced* MT 193 108 78% 474 619 -23% Open Pit Ore Milled DMT 123,353 - N.A. 123,353 - N.A. Ore Grade % 1.01 - N.A. 1.01 - N.A. Recovery Rate % 9.17 - N.A. 9.17 - N.A. MT Produced MT 114 - N.A. 114 - N.A. Zinc Production Mining Unit Operating Results Unit 3Q25 3Q24 △% 9M25 9M24 △ % Underground Ore Milled DMT 118,484 146,457 -19% 274,715 427,016 -36% Ore Grade % 0.84 1.13 -25% 1.08 1.23 -12% Recovery Rate % 59.59 73.87 -19% 67.64 77.11 -12% MT Produced MT 594 1,222 -51% 2,000 4,034 -50% Ore Milled DMT 159,153 138,469 15% 461,238 351,929 31% Ore Grade % 4.68 5.06 -8% 4.63 5.41 -14% Recovery Rate % 85.85 87.74 -2% 86.79 86.74 0% MT Produced MT 6,395 6,153 4% 18,539 16,521 12% Open Pit Ore Milled DMT 123,353 - N.A. 123,353 84,369 46% Ore Grade % 0.24 - N.A. 0.24 4.95 -95% Recovery Rate % 25.79 - N.A. 25.79 47.52 -46% MT Produced MT 76 - N.A. 76 1,985 -96% Copper Production Mining Unit Operating Results Unit 3Q25 3Q24 △% 9M25 9M24 △ % Underground Ore Milled DMT 976,139 1,223,279 -20% 3,023,547 2,963,932 2% Ore Grade % 1.46 1.57 -7% 1.43 1.55 -8% Recovery Rate % 88.31 87.13 1% 87.57 85.83 2% MT Produced MT 12,621 16,769 -25% 37,763 39,328 -4% Julcani Pb - Ag MT Produced MT 30 21 47% 76 114 -34% Julcani Cu - Au MT Produced MT 96 90 6% 272 174 56% Tambomayo MT Produced MT 23 32 -29% 52 94 -45% Open Pit Ore Milled DMT - - N.A. - 209,668 N.A. Ore Grade % - - N.A. - 2.52 N.A. Recovery Rate % - - N.A. - 56.79 N.A. MT Produced MT - - N.A. - 3,006 N.A. Tambomayo Tajo Norte Pb - Zn Tambomayo Uchucchacua Julcani Pb - Ag Marcapunta Tajo Norte Cu - Ag Uchucchacua Tajo Norte Pb - Zn
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10 APPENDIX 3: Adjusted EBITDA Reconciliation (in thousand US$) *Cerro Verde’s EBITDA accounts for D&A related to the capitalization of the stripping. Note: EBITDA (Buenaventura Direct Operations) consists of earnings before net interest, taxes, depreciation and amortization, share in associated companies, net, loss on currency exchange difference, other, net, provision for workers’ profit sharing and provision for long-term officers’ compensation. EBITDA (including associated companies) consists of EBITDA (Buenaventura Direct Operations), plus (1) Buenaventura’s equity share of EBITDA (Cerro Verde), plus (2) Buenaventura’s equity share of EBITDA (Coimolache). All EBITDA mentioned were similarly calc ulated using financial information provided to Buenaventura by the associated companies. Buenaventura presents EBITDA (Buenaventura Direct Operations) and EBITDA (including affiliates) to provide further information with respect to its operating performance and the operating performance of its equity investees, the affiliates. EBITDA (Buenaventura Direct Operations) and EBITDA (including affiliates) are not a measure of financial performance under IFRS and may not be comparable to similarly titled measures of other companies. You should not consider EBITDA (Buenaventura Direct Operations) and E BITDA (including affiliates) as alternatives to operating income or net income determined in accordance with IFRS, as an indicator of Buenaventura’s, affiliates operating performance, or as an alternative to cash flows from operating activities. EBITDA RECONCILIATION (in thousand US$) 3Q25 3Q24 9M25 9M24 Net Income 178,999 244,426 424,158 385,853 Add / Substract: 23,101 100,991 34,325 161,263 Depreciation and Amortization in cost of sales 31,569 43,815 86,986 119,717 Provision (credit) for income tax, net 41,627 98,141 101,793 127,227 Interest expense 20,520 13,100 59,922 42,508 Loss (gain) on currency exchange difference -11,605 -18,369 -45,541 572 Provision of bonuses and compensations 5,883 4,856 16,801 14,309 Loss (gain) from discontinued operations 224 1,459 3,689 1,521 Workers' participation provision 6,542 5,850 13,188 9,021 Depreciation and amortization in administration expenses 411 589 1,236 1,343 Depreciation and Amortization in other, net 15 15 39 40 Provision (reversal) for contingencies 1,075 1,245 752 1,878 Share in associated companies by the equity method, net -71,115 -48,664 -187,060 -150,189 Write-off of fixed assets 0 1,165 3,116 3,172 Impairment (reversal) of inventories 1,236 -401 -747 -4,292 Interest income -4,338 -3,654 -20,906 -7,627 Changes in provision of exploration activities 1,057 1,990 2,111 2,209 Change in enviromental liabilities provision 0 -146 -1,054 -146 EBITDA Buenaventura Direct Operations 202,100 136,517 458,483 338,216 EBITDA Cerro Verde (19.58%) 131,453 105,458 347,961 315,409 EBITDA Coimolache (40.095%) 11,918 86 30,813 11,084 EBITDA Buenaventura + All Associates 345,471 242,061 837,257 664,710
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11 APPENDIX 4: COST APPLICABLE TO SALES RECONCILIATION Reconciliation of Costs Applicable to Sales and Cost Applicable to Sales per Unit Sold Cost applicable to sales consists of cost of sales, excluding depreciation and amortization, plus selling expenses. Cost applicable to sales per unit sold for each mine consists of cost applicable to sales for a particular metal produced at a given mine di vided by the volume of such metal produced at such mine in the specified period. We note that cost applicable to sales is not directly comparable to the cash operating cost figures disclosed in previously furnished earnings releases. Cost applicable to sales and Cost applicable to sales per unit of mineral sold are not measures of financial performance under IFRS and may not be comparable to similarly titled measures of other companies. We consider Cost applicable to sales and Cost app licable to sales per unit of mineral sold to be key measures in managing and evaluating our operating performance. These measures are widely reported in the precious metals industry as a benchmark for performance, but do not have standardized meanings. You should not consider Cost applicable to sales or Cost applicable to sales per unit of mineral sold as alternatives to cost of sales determined in accordance with IFRS, as indicators of our operating performance. Cost applicable to sales and Cost applicabl e to sales per unit of mineral sold are calculated without adjusting for by -product revenue amounts. Operations’ Cost applicable to sales does not include operating cost for those months during which Buenaventura’s operations were suspended due to COVID-19, as these have been classified as “Unabsorbed costs due to production stoppage” within the financial statements. The tables below set forth (i) a reconciliation of consolidated Cost of sales, excluding depreciation and amortization to consolidated Cost applicable to sales, (ii) reconciliations of the components of Cost applicable to sales (by mine and mineral) to the corresponding consolidated line items set forth on our consolidated statements of profit or loss for the three and twelve months ended December 31, 2022 and 2021 and (iii) reconciliations of Cost of sales, excluding depreciation and amortization to Cost applicable to sales for each of our mining units. The amounts set forth in Cost applicable to sales and Cost applicable to sales per unit sold for each mine and mineral indicated in the tables below can be reconciled to the amounts set forth on our consolidated statements of profit or loss for the three and twelve months ended December 31, 2021 and 2022 by reference to the reconciliations of Cost of sales, excluding depreciation and amortization (by mine and mineral), Selling Expenses (by mine and metal) expenses and Exploration in units in operations (by mine and mineral) to consolidated Cost of sales, excluding depreciation and amortization, consolidated Selling Expenses and consolidated Exploration in units in operations expenses, respectively, set forth below.
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12 Set forth below is a reconciliation of consolidated Cost of sales, excluding depreciation and amortization, to consolidated Cost applicable to sales: 2025 2024 2025 2024 Consolidated Cost of sales and services excluding depreciation and amortization 187,354 154,399 531,584 402,017 Add: Consolidated Exploration in units in operation 12,518 13,703 36,231 35,808 Consolidated Commercial deductions 30,409 49,738 86,296 131,352 Consolidated Selling expenses 8,436 7,003 20,284 18,670 Consolidated Cost applicable to sales 238,717 224,843 674,395 587,847 Set forth below is a reconciliation of Cost of sales and services, excluding depreciation and amortization (by mine and mineral) to consolidated Cost of sales and services: 2025 2024 2025 2024 Cost of sales by mine and mineral Julcani, Gold 3,577 2,492 9,890 3,949 Julcani, Silver 6,687 5,998 17,820 19,543 Julcani, Lead 160 154 426 792 Julcani, Copper 72 113 182 449 Orcopampa, Gold 18,626 20,039 57,638 56,444 Orcopampa, Silver 65 133 268 273 Orcopampa, Copper 0 0 0 0 Uchucchacua/Yumpag, Gold 0 0 0 0 Uchucchacua/Yumpag, Silver 30,884 28,341 89,389 62,087 Uchucchacua/Yumpag, Lead 1,994 2,499 6,105 6,264 Uchucchacua/Yumpag, Zinc 4,171 4,887 13,139 11,282 Tambomayo, Gold 11,162 9,296 24,354 29,083 Tambomayo, Silver 9,886 6,263 19,272 15,513 Tambomayo, Zinc 633 917 2,935 4,074 Tambomayo, Lead 810 1,374 2,062 3,030 Tambomayo, Copper 655 149 2,088 492 La Zanja, Gold 7,582 3,785 27,498 10,519 La Zanja, Silver 390 157 1,498 470 El Brocal, Gold 3,825 3,827 12,106 9,943 El Brocal, Silver 8,892 4,968 19,314 15,105 El Brocal, Lead 0 0 0 0 El Brocal, Zinc 0 0 0 1,508 El Brocal, Copper 48,328 57,656 150,221 146,274 Buenaventura Trading, Silver 846 0 2,209 0 Buenaventura Trading, Copper 22,900 0 64,790 0 Non Mining Units 5,210 1,350 8,380 4,923 Consolidated Cost of sales, excluding depreciation and amortization 187,354 154,399 531,584 402,017 2025 2024 2025 2024 Exploration expenses in units in operation by mine and mineral Julcani, Gold 725 920 2,318 1,419 Julcani, Silver 1,356 2,213 4,177 7,025 Julcani, Lead 32 57 100 285 Julcani, Copper 15 42 43 161 Orcopampa, Gold 2,032 2,015 4,705 5,911 Orcopampa, Silver 7 13 22 29 Orcopampa, Copper 0 0 0 0 Uchucchacua/Yumpag, Gold 0 0 0 0 Uchucchacua/Yumpag, Silver 4,119 3,695 10,697 8,520 Uchucchacua/Yumpag, Lead 266 326 731 860 Uchucchacua/Yumpag, Zinc 556 637 1,572 1,548 Tambomayo, Gold 725 604 1,879 1,807 Tambomayo, Silver 642 407 1,487 964 Tambomayo, Lead 41 60 159 188 Tambomayo, Zinc 53 89 226 253 Tambomayo, Copper 43 10 161 31 La Zanja, Gold 0 60 0 108 La Zanja, Silver 0 3 0 5 El Brocal, Gold 119 147 530 385 El Brocal, Silver 278 191 846 585 El Brocal, Lead 0 0 0 0 El Brocal, Zinc 0 0 0 58 El Brocal, Copper 1,509 2,214 6,579 5,666 Buenaventura Trading, Silver 0 0 0 0 Buenaventura Trading, Copper 0 0 0 0 Non Mining Units 0 0 0 0 Consolidated Exploration expenses in units in operation 12,518 13,703 36,231 35,808 (in thousands of US$) (in thousands of US$) (in thousands of US$) Set forth below is a reconciliation of Exploration expenses in units in operation (by mine and mineral) to consolidated Exploration expenses in mining units: For the 3 months ended September 30 For the 6 months ended September 30 For the 3 months ended September 30 For the 6 months ended September 30 For the 3 months ended September 30 For the 6 months ended September 30 Note: For this calculation, the account Consolidated Cost of Sales and Services Excluding Depreciation and Amortization includes the line items Consolidated Cost of Sales Excluding Depreciation and Amortization, which comprises the costs of both the mining units and Buenaventura Trading, and Consolidated Cost of Services Excluding Depreciation and Amortization.
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13 Set forth below is a reconciliation of Commercial Deductions in units in operation (by mine and mineral) to consolidated Commercial deductions: 2025 2024 2025 2024 Commercial Deductions in units in operation by mine and mineral Julcani, Gold 38 137 117 313 Julcani, Silver 385 376 770 1,446 Julcani, Lead 13 11 23 56 Julcani, Copper 6 7 10 40 Orcopampa, Gold -16 183 19 484 Orcopampa, Silver 0 2 0 3 Orcopampa, Copper 0 0 0 0 Uchucchacua/Yumpag, Gold 1 0 1 0 Uchucchacua/Yumpag, Silver 4,122 5,824 8,417 15,747 Uchucchacua/Yumpag, Lead 103 877 414 2,439 Uchucchacua/Yumpag, Zinc 833 3,720 1,408 9,232 Tambomayo, Gold 510 625 1,233 2,407 Tambomayo, Silver 635 576 1,191 1,715 Tambomayo, Lead 30 74 107 275 Tambomayo, Zinc 286 600 969 1,884 Tambomayo, Copper 28 7 95 23 La Zanja, Gold 12 15 85 45 La Zanja, Silver 1 0 4 3 El Brocal, Gold 1,564 2,121 4,846 5,603 El Brocal, Silver 2,403 2,715 6,522 8,124 El Brocal, Lead 0 -13 1 -49 El Brocal, Zinc 0 126 -13 1,144 El Brocal, Copper 20,082 31,754 61,434 80,418 Buenaventura Trading, Silver -22 0 -45 0 Buenaventura Trading, Copper -603 0 -1,312 0 Non Mining Units 0 0 0 0 Consolidated Commercial deductions in units in operation 30,409 49,738 86,296 131,352 Set forth below is a reconciliation of Selling expenses (by mine and mineral) to consolidated Selling expenses: 2025 2024 2025 2024 Selling expenses by mine and mineral Julcani, Gold 157 81 382 101 Julcani, Silver 294 194 688 499 Julcani, Lead 7 5 16 20 Julcani, Copper 3 4 7 11 Orcopampa, Gold 132 157 455 432 Orcopampa, Silver 0 1 2 2 Orcopampa, Copper 0 0 0 0 Uchucchacua/Yumpag, Gold 0 0 0 0 Uchucchacua/Yumpag, Silver 3,642 1,647 7,801 3,913 Uchucchacua/Yumpag, Lead 235 145 533 395 Uchucchacua/Yumpag, Zinc 492 284 1,147 711 Tambomayo, Gold 208 399 327 1,308 Tambomayo, Silver 185 269 259 698 Tambomayo, Lead 12 39 28 136 Tambomayo, Zinc 15 59 39 183 Tambomayo, Copper 12 6 28 22 La Zanja, Gold 77 205 213 415 La Zanja, Silver 4 9 12 19 El Brocal, Gold 145 176 472 512 El Brocal, Silver 338 228 753 778 El Brocal, Lead 0 0 0 0 El Brocal, Zinc 0 0 0 78 El Brocal, Copper 1,838 2,648 5,854 7,532 Buenaventura Trading, Silver 0 0 0 0 Buenaventura Trading, Copper 0 0 0 0 Non Mining Units 637 448 1,268 905 Consolidated Selling expenses 8,436 7,003 20,284 18,670 (in thousands of US$) For the 3 months ended September 30 For the 6 months ended September 30 (in thousands of US$) For the 3 months ended September 30 For the 6 months ended September 30
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14 GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL Cost of Sales (without D&A) (US$000) 3,577 6,687 160 - 72 10,495 2,492 5,998 154 - 113 8,757 Cost of Sales (without D&A) (US$000) 9,890 17,820 426 - 182 28,318 3,949 19,543 792 - 449 24,732 Add: Add: Exploration Expenses (US$000) 725 1,356 32 - 15 2,128 920 2,213 57 - 42 3,232 Exploration Expenses (US$000) 2,318 4,177 100 - 43 6,637 1,419 7,025 285 - 161 8,890 Commercial Deductions (US$000) 38 385 13 - 6 441 137 376 11 - 7 531 Commercial Deductions (US$000) 117 770 23 - 10 920 313 1,446 56 - 40 1,854 Selling Expenses (US$000) 157 294.36 7.05 - 3 462 81 194 5 - 4 284 Selling Expenses (US$000) 382 688 16 - 7 1,094 101 499 20 - 11 632 Cost Applicable to Sales (US$000) 4,497 8,722 212 - 95 13,526 3,630 8,781 227 - 166 12,804 Cost Applicable to Sales (US$000) 12,706 23,455 565 - 242 36,969 5,781 28,514 1,152 - 661 36,109 Divide: Divide: Volume Sold 2,232 354,445 178 - 16 Not Applicable 1,293 248,442 96 - 20 Not Applicable Volume Sold 5,788 957,142 425 - 37 Not Applicable 2,527 1,052,051 562 - 79 No Aplicable CAS 2,014 24.61 1,196 - 5,981 Not Applicable 2,808 35.34 2,363 - 8,443 Not Applicable CAS 2,195 24.51 1,331 - 6,567 No Applicable 2,288 27.10 2,051 - 8,320 No Applicable GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL Cost of Sales (without D&A) (US$000) 18,626 65 - - - 18,691 20,039 133 - - - 20,172 Cost of Sales (without D&A) (US$000) 57,638 268 - - - 57,906 56,444 273 - - - 56,717 Add: - Add: Exploration Expenses (US$000) 2,032 7 - - - 2,039 2,015 13 - - - 2,028 Exploration Expenses (US$000) 4,705 22 - - - 4,727 5,911 29 - - - 5,940 Commercial Deductions (US$000) -16 -0 - - - -16 183 2 - - - 185 Commercial Deductions (US$000) 19 -0 - - - 19 484 3 - - - 487 Selling Expenses (US$000) 132 0 - - - 132 157 1 - - - 158 Selling Expenses (US$000) 455 2 - - - 457 432 2 - - - 434 Cost Applicable to Sales (US$000) 20,774 72 - - - 20,846 22,393 150 - - - 22,543 Cost Applicable to Sales (US$000) 62,817 292 - - - 63,109 63,271 307 - - - 63,578 Divide: Divide: Volume Sold 13,776 4,203 - - - Not Applicable 18,027 10,031 - - - Not Applicable Volume Sold 40,680 17,611 - - - Not Applicable 54,223 22,174 - - - Not Applicable CAS 1,508 17.09 - - - Not Applicable 1,242 14.93 - - - Not Applicable CAS 1,544 16.56 - - - No Applicable 1,167 13.84 - - - No Applicable GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL Cost of Sales (without D&A) (US$000) - 30,884 1,994 4,171 - 37,049 - 28,341 2,499 4,887 - 35,726 2,543 Cost of Sales (without D&A) (US$000) - 89,389 6,105 13,139 - 108,633 - 62,087 6,264 11,282 - 79,633 Add: - Add: Exploration Expenses (US$000) - 4,119 266 556 - 4,941 - 3,695 326 637 - 4,658 424 Exploration Expenses (US$000) - 10,697 731 1,572 - 13,000 - 8,520 860 1,548 - 10,928 Commercial Deductions (US$000) 1 4,122 103 833 - 5,059 - 5,824 877 3,720 - 10,421 -1,702 Commercial Deductions (US$000) 1 8,417 414 1,408 - 10,240 - 15,747 2,439 9,232 - 27,419 Selling Expenses (US$000) - 3,642 235 492 - 4,369 - 1,647 145 284 - 2,076 1,995 Selling Expenses (US$000) - 7,801 533 1,147 - 9,480 - 3,913 395 711 - 5,019 Cost Applicable to Sales (US$000) - 42,767 2,598 6,052 - 51,418 - 39,507 3,847 9,528 - 52,882 3,260 Cost Applicable to Sales (US$000) 1 116,304 7,782 17,265 - 141,353 - 90,268 9,958 22,773 - 122,999 Divide: - - Divide: Volume Sold 2,860,471 3,940 5,563 - Not Applicable - 2,784,161 3,510 5,026 - Not Applicable Volume Sold - 8,162,160 10,427 15,754 - Not Applicable - 7,131,489 9,807 13,593 - Not Applicable CAS - 14.95 659 1,088 - No Applicable - 14.19 1,096 1,896 - No Applicable CAS - 14.25 746 1,096 - No Applicable - 12.66 1,015 1,675 - No Applicable 8.25% GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL Cost of Sales (without D&A) (US$000) 11,162 9,886 633 810 655 23,146 9,296 6,263 917 1,374 149 17,999 Cost of Sales (without D&A) (US$000) 24,354 19,272 2,062 2,935 2,088 50,711 29,083 15,513 3,030 4,074 492 52,191 Add: Add: Exploration Expenses (US$000) 725 642 41 53 43 1,504 604 407 60 89 10 1,169 Exploration Expenses (US$000) 1,879 1,487 159 226 161 3,912 1,807 964 188 253 31 3,242 Commercial Deductions (US$000) 510 635 30 286 28 1,488 625 576 74 600 7 1,882 Commercial Deductions (US$000) 1,233 1,191 107 969 95 3,595 2,407 1,715 275 1,884 23 6,303 Selling Expenses (US$000) 208 185 12 15 12 432 399 269 39 59 6 772 Selling Expenses (US$000) 327 259 28 39 28 681 1,308 698 136 183 22 2,347 Cost Applicable to Sales (US$000) 12,605 11,348 716 1,163 738 26,570 10,924 7,514 1,090 2,122 172 21,822 Cost Applicable to Sales (US$000) 27,792 22,209 2,356 4,171 2,372 58,899 34,604 18,888 3,629 6,394 567 64,083 Divide: Divide: Volume Sold 4,564 347,563 469 409 104 Not Applicable 7,438 402,631 849 969 32 Not Applicable Volume Sold 9,849 663,409 1,489 1,513 283 Not Applicable 24,199 1,035,689 2,692 3,231 95 Not Applicable CAS 2,762 32.65 1,528 2,841 7,101 No Applicable 1,469 18.66 1,283 2,190 5,463 No Applicable CAS 2,822 33.48 1,582 2,757 8,385 No Applicable 1,430 18.24 1,348 1,979 5,976 Not Applicable GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL Cost of Sales (without D&A) (US$000) 7,582 390 - - - 7,972 3,785 157 - - - 3,942 Cost of Sales (without D&A) (US$000) 27,498 1,498 - - - 28,996 10,519 470 - - - 10,989 Add: Add: Exploration Expenses (US$000) - - - - - - 60 3 - - - 63 Exploration Expenses (US$000) - - - - - - 108 5 - - - 113 Commercial Deductions (US$000) 12 1 - - - 13 15 0 - - - 15 Commercial Deductions (US$000) 85 4 - - - 89 45 3 - - - 48 Selling Expenses (US$000) 77 4 - - - 81 205 9 - - - 214 Selling Expenses (US$000) 213 12 - - - 225 415 19 - - - 434 Cost Applicable to Sales (US$000) 7,671 395 - - - 8,066 4,066 169 - - - 4,235 Cost Applicable to Sales (US$000) 27,796 1,514 - - - 29,310 11,088 496 - - - 11,584 Divide: Divide: Volume Sold 4,910 21,775 - - - Not Applicable 4,676 16,450 - - - Not Applicable Volume Sold 13,877 68,177 - - - Not Applicable 8,525 32,140 - - - Not Applicable CAS 1,562 18.13 - - - Not Applicable 870 10.25 - - - Not Applicable CAS 2,003 22.20 - - - No Applicable 1,301 15.44 - - - Not Applicable JULCANI 3Q 2025 3Q 2024 ORCOPAMPA 3Q 2025 3Q 2024 UCHUCCHACUA/YUMPAG 3Q 2025 3Q 2024 LA ZANJA 3Q 2025 3Q 2024 TAMBOMAYO 3Q 2025 3Q 2024 JULCANI 9M 2025 9M 2024 ORCOPAMPA 9M 2025 9M 2024 UCHUCCHACUA/YUMPAG 9M 2025 9M 2024 TAMBOMAYO 9M 2025 9M 2024 LA ZANJA 9M 2025 9M 2024
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15 APPENDIX 5: All-in Sustaining Cost GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL Cost of Sales (without D&A) (US$000) 3,825 8,892 - - 48,328 61,045 3,827 4,968 - - 57,656 66,451 Cost of Sales (without D&A) (US$000) 12,106 19,314 - - 150,221 181,641 9,943 15,105 - 1,508 146,274 172,830 Add: Add: Exploration Expenses (US$000) 119 278 - - 1,509 1,906 147 191 - - 2,214 2,552 Exploration Expenses (US$000) 530 846 - - 6,579 7,955 385 585 - 58 5,666 6,695 Commercial Deductions (US$000) 1,564 2,403 - - 20,082 24,049 2,121 2,715 -13 126 31,754 36,703 Commercial Deductions (US$000) 4,846 6,522 1 -13 61,434 72,790 5,603 8,124 -49 1,144 80,418 95,240 Selling Expenses (US$000) 145 338 - - 1,838 2,322 176 228 - - 2,648 3,052 Selling Expenses (US$000) 472 753 - - 5,854 7,078 512 778 - 78 7,532 8,899 Cost Applicable to Sales (US$000) 5,654 11,911 - - 71,757 89,322 6,271 8,102 -13 126 94,273 108,759 Cost Applicable to Sales (US$000) 17,954 27,434 1 -13 224,088 269,464 16,443 24,592 -49 2,788 239,890 283,664 Divide: Divide: Volume Sold 2,555 513,067 - - 11,813 Not Applicable 3,912 413,407 - - 15,571 Not Applicable Volume Sold 8,468 1,182,210 - - 35,577 Not Applicable 10,676 1,403,306 72 1,592 39,709 Not Applicable CAS 2,213 23.22 - - 6,074 Not Applicable 1,603 19.60 - - 6,054 Not Applicable CAS 2,120 23.21 - - 6,299 No Applicable 1,540 17.52 - 1,751 6,041 Not Applicable GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL Cost of Sales (without D&A) (US$000) - 846 - - 22,900 23,746 - - - - - - Cost of Sales (without D&A) (US$000) - 2,209 - - 64,790 66,999 - - - - - - Add: Add: Exploration Expenses (US$000) - - - - - - - - - - - - Exploration Expenses (US$000) - - - - - - - - - - - - Commercial Deductions (US$000) - -22 - - -603 -625 - - - - - - Commercial Deductions (US$000) - -45 - - -1,312 -1,357 - - - - - - Selling Expenses (US$000) - - - - - - - - - - - - Selling Expenses (US$000) - - - - - - - - - - - - Cost Applicable to Sales (US$000) - 825 - - 22,296 23,121 - - - - - - Cost Applicable to Sales (US$000) - 2,164 - - 63,478 65,642 - - - - - - Divide: Divide: Volume Sold - 20,108 - - 2,289 Not Applicable - - - - - Not Applicable Volume Sold - 59,559 - - 6,584 Not Applicable - - - - - Not Applicable CAS - 41.01 - - 9,739 Not Applicable - - - - - Not Applicable CAS - 36.34 - - 9,641 No Applicable - - - - - Not Applicable GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL Cost of Sales (without D&A) (US$000) - - - - - 4,165 - - - - - 1,632 Cost of Sales (without D&A) (US$000) - - - - - 4,888 - - - - - 2,631 Cost of Services (without D&A) (US$000) - - - - - 1,045 - - - - - -282 Cost of Services (without D&A) (US$000) - - - - - 3,492 - - - - - 2,292 Add: Add: Selling Expenses (US$000) - - - - - 637 - - - - - 448 Selling Expenses (US$000) - - - - - 1,268 - - - - - 905 Total (US$000) - - - - - 5,847 - - - - - 1,798 Total (US$000) - - - - - 9,648 - - - - - 5,828 GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL Cost of Sales (without D&A) (US$000) 44,772 56,803 2,788 4,981 49,055 186,309 39,440 45,860 3,570 6,261 57,918 154,681 Cost of Sales (without D&A) (US$000) 131,486 147,561 8,593 16,074 152,491 528,092 109,937 112,992 10,086 16,863 147,215 399,723 Cost of Services (without D&A) (US$000) 1,045 -282 Cost of Services (without D&A) (US$000) 3,492 2,292 Add: Add: Exploration Expenses (US$000) 3,602 6,402 340 609 1,566 12,518 3,746 6,522 442 726 2,266 13,702 Exploration Expenses (US$000) 9,432 17,228 989 1,799 6,783 36,231 9,631 17,127 1,332 1,860 5,858 35,808 Commercial Deductions (US$000) 2,108 7,545 146 1,118 20,116 30,409 3,081 9,493 949 4,446 31,769 49,738 Commercial Deductions (US$000) 6,301 16,904 545 2,364 61,539 86,296 8,852 27,039 2,721 12,260 80,480 131,352 Selling Expenses (US$000) 720 4,463 254 507 1,854 7,798 1,018 2,348 190 343 2,658 6,556 Selling Expenses (US$000) 1,849 9,514 577 1,186 5,889 19,015 2,768 5,909 551 972 7,565 17,765 Cost Applicable to Sales (US$000) 51,200 75,214 3,527 7,215 72,590 238,716 47,284 64,222 5,151 11,776 94,611 224,843 Cost Applicable to Sales (US$000) 149,067 191,207 10,704 21,423 226,702 664,746 131,187 163,066 14,691 31,955 241,118 582,017 Divide: Divide: Volume Sold 28,038 4,101,524 4,586 5,973 11,933 Not Applicable 35,345 3,875,123 4,455 5,995 15,622 Not Applicable Volume Sold 78,661 11,050,709 12,341 17,266 35,896 Not Applicable 100,151 10,676,849 13,134 18,417 39,883 Not Applicable CAS 1,826 18.34 769 1,208 6,083 Not Applicable 1,338 16.57 1,156 1,964 6,056 Not Applicable CAS 1,895 17.30 867 1,241 6,315 Not Applicable 1,310 15.27 1,119 1,735 6,046 Not Applicable GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL GOLD (OZ) SILVER (OZ) LEAD (MT) ZINC (MT) COPPER (MT) TOTAL Cost of Sales (without D&A) (US$000) 17,863 940 - - - 18,803 13,476 740 - - - 14,216 Cost of Sales (without D&A) (US$000) 50,423 3,185 - - - 53,608 51,631 2,813 - - - 54,444 Add: Add: Exploration Expenses (US$000) 912 48 - - - 960 4,444 244 - - - 4,688 Exploration Expenses (US$000) 2,722 172 - - - 2,894 5,756 314 - - - 6,070 Commercial Deductions (US$000) 73 3 - - - 76 49 3 - - - 51 Commercial Deductions (US$000) 241 15 - - - 256 339 16 - - - 355 Selling Expenses (US$000) 230 12 - - - 242 132 7 - - - 139 Selling Expenses (US$000) 642 41 - - - 683 521 28 - - - 549 Cost Applicable to Sales (US$000) 19,078 1,003 - - - 20,081 18,101 994 - - - 19,094 Cost Applicable to Sales (US$000) 54,029 3,412 - - - 57,441 58,247 3,171 - - - 61,418 Divide: Divide: Volume Sold 13,433 61,683 - - - Not Applicable 8,450 38,748 - - - Not Applicable Volume Sold 38,302 223,473 - - - Not Applicable 38,526 177,393 - - - Not Applicable CAS 1,420 16.26 - - - Not Applicable 2,142 25.65 - - - Not Applicable CAS 1,411 15.27 - - - No Applicable 1,512 17.88 - - - Not Applicable 3Q 2025 3Q 2024 Buenaventura Trading COIMOLACHE NON MINING COMPANIES 3Q 2025 3Q 2024 BROCAL 3Q 2025 3Q 2024 BUENAVENTURA CONSOLIDATED 3Q 2025 3Q 2024 BROCAL 9M 2025 9M 2024 COIMOLACHE 9M 2025 9M 2024 NON MINING COMPANIES 9M 2025 9M 2024 BUENAVENTURA CONSOLIDATED 9M 2025 9M 2024 Note: The calculation of Buenaventura’s Consolidated CAS per metal excludes the effects of Buenaventura Trading and Non-Mining Companies to avoid distorting the analysis. The objective is for this indicator to accurately reflect the CAS of the mining units. Buenaventura Trading 3Q 2025 3Q 2024 9M 2025 9M 2024
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16 All-in Sustaining Cost for 3Q25 - Gold Au Ounces Sold Net 20,572 4,910 2,555 28,038 13,433 Income Statement & Cash Flow US$ 000' US$/Oz Au US$ 000' US$/Oz Au US$ 000' US$/Oz Au US$ 000' US$/Oz Au US$ 000' US$/Oz Au Cost of Sales 88,161 4,285 8,953 1,823 61,226 23,961 158,340 5,647 18,803 1,400 Exploration in Operating Units 10,616 516 1 0 1,906 746 12,523 447 961 72 Royalties 3,922 191 0 0 0 0 3,922 140 0 0 Comercial Deductions3 6,976 339 13 3 24,049 9,411 31,037 1,107 76 6 Selling Expenses 5,395 262 36 7 2,322 909 7,753 277 243 18 Administrative Expenses 13,071 635 433 88 2,373 929 15,877 566 947 70 Other, net 4,393 214 -93 -19 2,085 816 6,385 228 821 61 Sustaining Capex4 13,298 646 3,194 651 13,887 5,435 30,379 1,083 3,048 227 By-product Credit -171,397 -8,331 -907 -185 -140,035 -54,803 -312,339 -11,140 -2,480 -185 All-in Sustaining Cost -25,565 -1,243 11,630 2,368 -32,187 -12,597 -46,122 -1,645 22,419 1,669 All-in Sustaining Cost for 3Q25 - Copper Cu MT Sold Net 120 0 11,813 11,933 Income Statement & Cash Flow US$ 000' US$/TM Cu US$ 000' US$/TM Cu US$ 000' US$/TM Cu US$ 000' US$/TM Cu Cost of Sales 88,161 735,533 8,953 - 61,226 5,183 158,340 13,269 Exploration in Operating Units 10,616 88,570 1 - 1,906 161 12,523 1,049 Royalties 3,922 32,722 0 - 0 0 3,922 329 Comercial Deductions3 6,976 58,203 13 - 24,049 2,036 31,037 2,601 Selling Expenses 5,395 45,011 36 - 2,322 197 7,753 650 Administrative Expenses 13,071 109,052 433 - 2,373 201 15,877 1,330 Other, net 4,393 36,651 -93 - 2,085 176 6,385 535 Sustaining Capex4 13,298 110,945 3,194 - 13,887 1,176 30,379 2,546 By-product Credit -244,090 -2,036,462 -18,527 - -31,123 -2,635 -293,740 -24,615 All-in Sustaining Cost -98,258 -819,774 -5,990 - 76,724 6,495 -27,524 -2,306 *All-in Sustaining Cost does not include: Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas. Notes: 1. Non-consolidated financial statements for Compañia De Minas Buenaventura S.A.A. 2. Considers 100% from Compañia De Minas Buenaventura S.A.A., 100% from La Zanja and 100% from El Brocal. 3. For all metals produced. 4. Sustaining Capex + Growth Capex equals Acquisitions of mining concessions, development costs, property, plant and equipment. Buenaventura1 La Zanja El Brocal Consolidated 2 Tantahuatay 3Q25 3Q25 3Q25 3Q25 3Q25 Buenaventura1 La Zanja El Brocal Consolidated 2 3Q25 3Q25 3Q25 3Q25
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17 All-in Sustaining Cost for 3Q24 - Gold Au Ounces Sold Net 26,758 4,676 3,912 35,345 8,450 Income Statement & Cash Flow US$ 000' US$/Oz Au US$ 000' US$/Oz Au US$ 000' US$/Oz Au US$ 000' US$/Oz Au US$ 000' US$/Oz Au Cost of Sales 86,371 3,228 7,850 1,679 67,606 17,283 161,827 4,578 14,216 1,682 Exploration in Operating Units 11,091 414 63 13 2,570 657 13,724 388 4,687 555 Royalties 4,702 176 0 0 0 0 4,702 133 0 0 Comercial Deductions3 13,019 487 15 3 36,703 9,383 49,738 1,407 51 6 Selling Expenses 3,290 123 29 6 3,052 780 6,371 180 139 16 Administrative Expenses 13,268 496 421 90 2,347 600 16,036 454 833 99 Other, net 746 28 1,364 292 759 194 2,869 81 24 3 Sustaining Capex4 6,819 255 0 0 4,297 1,099 11,116 315 2,263 268 By-product Credit -129,471 -4,839 -510 -109 -159,248 -40,711 -289,229 -8,183 -1,179 -140 All-in Sustaining Cost 9,835 368 9,232 1,975 -41,913 -10,715 -22,846 -646 21,034 2,489 All-in Sustaining Cost for 3Q24 - Copper Cu MT Sold Net 51 0 15,571 15,622 Income Statement & Cash Flow US$ 000' US$/TM Cu US$ 000' US$/TM Cu US$ 000' US$/TM Cu US$ 000' US$/TM Cu Cost of Sales 86,371 1,686,275 7,850 - 67,606 4,342 161,827 10,359 Exploration in Operating Units 11,091 216,537 63 - 2,570 165 13,724 878 Royalties 4,702 91,793 0 - 0 0 4,702 301 Comercial Deductions3 13,019 254,173 15 - 36,703 2,357 49,738 3,184 Selling Expenses 3,290 64,233 29 - 3,052 196 6,371 408 Administrative Expenses 13,268 259,039 421 - 2,347 151 16,036 1,026 Other, net 746 14,565 1,364 - 759 49 2,869 184 Sustaining Capex4 6,819 133,132 0 - 4,297 276 11,116 712 By-product Credit -195,913 -3,824,923 -12,783 - -22,680 -1,457 -231,375 -14,810 All-in Sustaining Cost -56,607 -1,105,177 -3,040 - 94,655 6,079 35,008 2,241 *All-in Sustaining Cost does not include: Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas. Notes: 1. Non-consolidated financial statements for Compañia De Minas Buenaventura S.A.A. 2. Considers 100% from Compañia De Minas Buenaventura S.A.A., 100% from La Zanja and 100% from El Brocal. 3. For all metals produced. 4. Sustaining Capex + Growth Capex equals Acquisitions of mining concessions, development costs, property, plant and equipment. Buenaventura1 La Zanja El Brocal Consolidated 2 Tantahuatay 3Q24 3Q24 3Q24 3Q24 3Q24 Buenaventura1 La Zanja El Brocal Consolidated 2 3Q24 3Q24 3Q24 3Q24
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18 All-in Sustaining Cost for 9M25 - Gold Au Ounces Sold Net 56,317 13,877 8,468 78,661 38,302 Income Statement & Cash Flow US$ 000' US$/Oz Au US$ 000' US$/Oz Au US$ 000' US$/Oz Au US$ 000' US$/Oz Au US$ 000' US$/Oz Au Cost of Sales 252,823 4,489 25,089 1,808 182,194 21,517 460,106 5,849 53,608 1,400 Exploration in Operating Units 28,287 502 13 1 7,970 941 36,270 461 2,894 76 Royalties 10,998 195 0 0 0 0 10,998 140 0 0 Comercial Deductions3 14,779 262 89 6 72,790 8,596 87,658 1,114 256 7 Selling Expenses 11,712 208 91 7 7,078 836 18,881 240 683 18 Administrative Expenses 39,161 695 1,187 86 6,645 785 46,993 597 2,698 70 Other, net 4,892 87 -147 -11 4,931 582 9,676 123 307 8 Sustaining Capex4 27,302 485 4,887 352 26,461 3,125 58,650 746 4,576 119 By-product Credit -425,701 -7,559 -2,479 -179 -385,840 -45,567 -814,020 -10,348 -7,907 -206 All-in Sustaining Cost -35,748 -635 28,730 2,070 -77,770 -9,184 -84,789 -1,078 57,115 1,491 All-in Sustaining Cost for 9M25 - Copper Cu MT Sold Net 320 0 35,577 35,896 Income Statement & Cash Flow US$ 000' US$/TM Cu US$ 000' US$/TM Cu US$ 000' US$/TM Cu US$ 000' US$/TM Cu Cost of Sales 252,823 790,813 25,089 - 182,194 5,121 460,106 12,818 Exploration in Operating Units 28,287 88,480 13 - 7,970 224 36,270 1,010 Royalties 10,998 34,401 0 - 0 0 10,998 306 Comercial Deductions3 14,779 46,227 89 - 72,790 2,046 87,658 2,442 Selling Expenses 11,712 36,634 91 - 7,078 199 18,881 526 Administrative Expenses 39,161 122,493 1,187 - 6,645 187 46,993 1,309 Other, net 4,892 15,302 -147 - 4,931 139 9,676 270 Sustaining Capex4 27,302 85,398 4,887 - 26,461 744 58,650 1,634 By-product Credit -608,105 -1,902,111 -47,987 - -71,432 -2,008 -727,524 -20,267 All-in Sustaining Cost -218,151 -682,363 -16,778 - 236,638 6,651 1,708 48 *All-in Sustaining Cost does not include: Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas. Notes: 1. Non-consolidated financial statements for Compañia De Minas Buenaventura S.A.A. 2. Considers 100% from Compañia De Minas Buenaventura S.A.A., 100% from La Zanja and 100% from El Brocal. 3. For all metals produced. 4. Sustaining Capex + Growth Capex equals Acquisitions of mining concessions, development costs, property, plant and equipment. Buenaventura1 La Zanja El Brocal Consolidated 2 Tantahuatay 9M25 9M25 9M25 9M25 9M25 Buenaventura1 La Zanja El Brocal Consolidated 2 9M25 9M25 9M25 9M25
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19 All-in Sustaining Cost for 9M24 - Gold Au Ounces Sold Net 80,949 8,525 10,676 100,151 38,526 Income Statement & Cash Flow US$ 000' US$/Oz Au US$ 000' US$/Oz Au US$ 000' US$/Oz Au US$ 000' US$/Oz Au US$ 000' US$/Oz Au Cost of Sales 231,834 2,864 15,677 1,839 178,813 16,748 426,324 4,257 54,444 1,413 Exploration in Operating Units 29,058 359 113 13 6,449 604 35,620 356 6,069 158 Royalties 11,453 141 0 0 0 0 11,453 114 0 0 Comercial Deductions3 36,063 445 48 6 95,240 8,921 131,352 1,312 355 9 Selling Expenses 8,432 104 58 7 8,899 834 17,389 174 549 14 Administrative Expenses 34,554 427 1,272 149 6,942 650 42,768 427 2,701 70 Other, net 6,918 85 1,757 206 813 76 9,488 95 96 2 Sustaining Capex4 15,232 188 33 4 9,054 848 24,319 243 4,470 116 By-product Credit -335,543 -4,145 -935 -110 -403,375 -37,782 -739,853 -7,387 -4,695 -122 All-in Sustaining Cost 38,000 469 18,023 2,114 -97,164 -9,101 -41,140 -411 63,988 1,661 All-in Sustaining Cost for 9M24 - Copper Cu MT Sold Net 174 0 39,709 39,883 Income Statement & Cash Flow US$ 000' US$/TM Cu US$ 000' US$/TM Cu US$ 000' US$/TM Cu US$ 000' US$/TM Cu Cost of Sales 231,834 1,329,628 15,677 - 178,813 4,503 426,324 10,689 Exploration in Operating Units 29,058 166,655 113 - 6,449 162 35,620 893 Royalties 11,453 65,686 0 - 0 0 11,453 287 Comercial Deductions3 36,063 206,830 48 - 95,240 2,398 131,352 3,293 Selling Expenses 8,432 48,360 58 - 8,899 224 17,389 436 Administrative Expenses 34,554 198,176 1,272 - 6,942 175 42,768 1,072 Other, net 6,918 39,677 1,757 - 813 20 9,488 238 Sustaining Capex4 15,232 87,357 33 - 9,054 228 24,319 610 By-product Credit -521,061 -2,988,423 -21,859 - -65,717 -1,655 -608,637 -15,260 All-in Sustaining Cost -147,518 -846,055 -2,901 - 240,494 6,056 90,075 2,258 *All-in Sustaining Cost does not include: Depreciation and Amortization, Stoppage of mining units, Exploration in non-operating areas. Notes: 1. Non-consolidated financial statements for Compañia De Minas Buenaventura S.A.A. 2. Considers 100% from Compañia De Minas Buenaventura S.A.A., 100% from La Zanja and 100% from El Brocal. 3. For all metals produced. 4. Sustaining Capex + Growth Capex equals Acquisitions of mining concessions, development costs, property, plant and equipment. Buenaventura1 La Zanja El Brocal Consolidated 2 Tantahuatay 9M24 9M24 9M24 9M24 9M24 Buenaventura1 La Zanja El Brocal Consolidated 2 9M24 9M24 9M24 9M24
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20 APPENDIX 6 Compañía de Minas Buenaventura S.A.A. and Subsidiaries Interim condensed consolidated statements of financial position As of September 30, 2025 (unaudited) and December 31, 2024 (audited) 2025 2024 US$(000) US$(000) Assets Current assets Cash and cash equivalents 485,724 478,435 Trade and other receivables 352,965 256,602 Inventories 88,982 79,594 Current income tax 1,220 4,257 Prepaid expenses 13,180 19,474 942,071 838,362 Non-current assets Trade and other receivables 637,310 597,947 Investments in associates and joint venture 1,621,627 1,548,392 Property, plant, equipment and development cost 2,104,328 1,889,785 Prepaid expenses 20,598 21,262 Current income tax assets 1,782 1,643 Deferred income tax asset 61,936 91,677 Other non-financial assets 64,516 58,835 4,512,097 4,209,541 Total assets 5,454,168 5,047,903 Liabilities and equity Current liabilities Trade and other payables 320,694 367,204 Financial obligations 8,717 9,169 Provisions 61,117 53,900 Income tax payable 21,697 49,465 Contingent consideration liability 3,334 - 415,559 479,738 Non-current liabilities Trade and other payables 18,588 13,116 Financial obligations 701,908 617,613 Provisions 340,786 306,400 Contingent consideration liability 27,725 28,271 Deferred income tax liabilities 47,757 43,064 1,136,764 1,008,464 Total liabilities 1,552,323 1,488,202 Equity Capital stock 750,497 750,497 Investment shares 791 791 Additional paid-in capital 218,450 218,450 Legal reserve 163,544 163,539 Other reserves 31,897 31,897 Other reserves of equity -96 -96 Retained earnings 2,549,931 2,225,611 Shareholders’ equity attributable to owners of the parent 3,715,014 3,390,689 Non-controlling interest 186,831 169,012 Total equity 3,901,845 3,559,701 Total liabilities and equity 5,454,168 5,047,903
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21 2025 2024 2025 2024 US$(000) US$(000) US$(000) US$(000) 428,414 329,017 1,099,759 850,235 2,624 2,089 8,485 4,777 431,038 331,106 1,108,244 855,012 (186,310) (153,640) (528,092) (399,725) (274) (271) (2,219) (1,711) (1,044) (759) (3,492) (2,292) (31,569) (43,815) (86,986) (119,717) (12,518) (13,703) (36,231) (35,808) (3,922) (5,866) (12,721) (15,017) (235,637) (218,054) (669,741) (574,270) 195,401 113,052 438,503 280,742 (17,032) (16,950) (50,616) (45,800) (8,436) (7,003) (20,284) (18,670) (6,805) (6,297) (17,372) (16,847) (1,075) (1,245) (752) (1,878) (7,741) 204,751 (13,424) 202,187 (41,089) 173,256 (102,448) 118,992 154,312 286,308 336,055 399,734 71,115 48,664 187,060 150,189 11,605 18,369 45,541 (572) 4,338 3,654 20,906 7,627 (20,520) (12,969) (59,922) (42,377) 220,850 344,026 529,640 514,601 (34,428) (67,756) (67,369) (90,049) (7,199) (30,385) (34,424) (37,178) (41,627) (98,141) (101,793) (127,227) 179,223 245,885 427,847 387,374 (224) (1,459) (3,689) (1,521) 178,999 244,426 424,158 385,853 167,149 236,927 398,540 369,075 11,850 7,499 25,618 16,778 178,999 244,426 424,158 385,853 0.66 0.93 1.57 1.45 0.71 0.97 1.68 1.53 Compañía de Minas Buenaventura S.A.A. and Subsidiaries Interim condensed consolidated statements of profit or loss (unaudited) For the three-month and nine-month periods ended September 30, 2025 and 2024 Sales of goods For the three-month periods For the nine-month periods ended September 30, ended September 30, Continuing operations Operating income Gross profit (loss) Sales of services Total operating income Cost of sales Cost of sales of goods, excluding depreciation and amortization Unabsorbed cost due to production stoppage Cost of sales of services, excluding depreciation and amortization Depreciation and amortization Exploration in operating units Mining royalties Total cost of sales Share in the results of associates and joint venture Operating income (expenses), net Administrative expenses Selling expenses Exploration in non-operating areas Reversal (provision) of contingencies Other, net Total operating income (expenses), net Operating income Loss from discontinued operations, net of taxes Foreign currency exchange difference Finance income Finance costs Profit before income tax Current income tax Deferred income tax Profit from continuing operations Discontinued operations Basic and diluted profit per share, stated in U.S. dollars Attributable to owners of parent Attributable to owners of the parent for continuing operations Net profit Profit attributable to: Owners of the parent Non-controlling interest
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22 2025 2024 2025 2024 US$(000) US$(000) US$(000) US$(000) Cash flows from (used in) operating activities Proceeds from sales of goods and services 383,156 318,002 1,007,963 834,635 Dividends received from associates 62,046 59,902 113,900 90,169 Recovery of taxes 8,203 9,141 52,237 32,101 Interest received 6,782 1,609 15,468 2,397 Dividends received from investments - - 1,050 1,150 Payments to suppliers and third parties, and others net (169,608) (117,972) (545,331) (451,120) Payments to employees (39,068) (55,682) (133,995) (115,268) Interest paid (27,061) (16,862) (44,643) (35,713) Income tax and royalties paid to the Peruvian Government (35,208) (17,546) (114,296) (43,632) Payment of royalties to third parties (3,363) 232 (10,735) (6,751) Net cash flows generated from operating activities 185,879 180,824 341,618 307,968 Cash flows from (used in) investing activities Collection from the sale of shares of the subsidiary Chaupiloma Dos de Cajamarca S.C.R.L. - 210,000 - 210,000 Proceeds from sale of property, plant and equipment 1,148 116 1,712 374 Proceeds from the sale of shares - 3,271 - 10,273 Payments for acquisition of property, plant and equipment and development costs (136,815) (95,448) (322,629) (236,769) Payments for acquisition of other assets - (155) (6,900) (1,524) Net cash flows used in investing activities (135,667) 117,784 (327,817) (17,646) Cash flows from (used in) financing activities Issuance of Senior Notes, net of issuance costs - - 634,344 - Decrease (increase) of bank accounts in trust (1,033) (970) (1,013) (1,040) Dividends paid to controlling interest - 36 (74,220) (18,441) Payments of financial obligations (150,296) (7,759) (555,063) (23,276) Lease payments (1,696) (1,782) (2,631) (3,575) Dividends paid to non-controlling interest - (1,787) (7,929) (5,888) Net cash flows from (used in) financing activities (153,025) (12,262) (6,512) (52,220) Increase (decrease) in cash and cash equivalents during the period, net (102,813) 286,346 7,289 238,102 Cash and cash equivalents at beginning of period 588,537 171,546 478,435 219,790 Cash and cash equivalents at the end of the period 485,724 457,892 485,724 457,892 Reconciliation of net profit to cash and cash equivalents provided by operating activities Net profit 178,999 244,426 424,158 385,853 Plus (less): Collection from the sale of shares of the subsidiary Chaupiloma Dos de Cajamarca S.C.R.L. - (210,000) - (210,000) Share in the results of associates and joint venture (71,115) (48,664) (187,060) (150,189) Deferred income tax 7,188 30,385 34,423 36,966 Current income tax 24,283 63,069 47,980 79,280 Exchange difference (11,455) (17,118) (47,587) 1,526 Contingencies 557 933 3,723 3,046 Depreciation and amortization in cost of sales 31,569 43,815 86,986 119,717 Depreciation and amortization in others 275 497 1,100 1,275 Finance costs 4,581 182 13,829 7,485 Mining Royalties and Special Mining Tax 10,146 4,687 19,390 10,769 (Reversal) provision for impairment of value of inventory 6,861 (8,183) 4,878 (4,292) Finance (income) costs for contingent consideration liability 977 2,593 2,788 4,610 Bonus provision - executives & employes 12,425 8,532 29,989 20,807 Fair value of accounts receivables and adjustments to prior period liquidations(18,551) 1,071 (40,576) (6,195) Other minors 681 (2,063) 1,624 (2,159) Net changes in operating assets and liabilities: Decrease (increase) in operating assets - Trade and other accounts receivable (30,600) 38,626 (43,382) 88,630 Inventories (2,546) 17,221 (2,131) 1,199 Prepaid expenses 6,715 6,771 6,958 13,267 Investments in associates 62,020 31 113,824 108 Increase (decrease) in operating liabilities - Trade and other accounts payable 1,298 29,013 (35,190) (54,043) Provisions (6,138) (11,583) (11,744) (15,780) Income tax payable (22,291) (13,417) (82,362) (23,912) Net cash and cash equivalents used in operating activities 185,879 180,824 341,618 307,968 ended September 30, ended September 30, Compañía de Minas Buenaventura S.A.A. and Subsidiaries Interim condensed consolidated statements of cash flows (unaudited) For the three-month and nine-month periods ended September 30, 2025 and 2024 For the three-month periods For the six-month periods