Slides
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2Q26 Earnings Results Conference Call
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Cautionary Statement This presentation contains certain information that may constitute forward-looking information under applicable U.S. securities legislation, including but not limited to information about costs applicable to sales, general and administrative expenses; production volumes; current expectationson the timing, extent and success of exploration; development and metallurgical sampling activities, the timing and success of mining operations and the optimization of mine plans. This forward-looking information entails various risks and uncertainties that are based on current expectations, and actual resultsmay differmateriallyfrom those containedwithin said information. These uncertaintiesand risks include,but are not limitedto, the strengthof the global economy,the price of commodities; operational,fundingand liquidityrisks; the degree to which mineral resource estimates are reflective of actual mineral resources; the degree to which factors which would make a mineral deposit commerciallyviable are present, and other risks and hazards associated with mining operations. Risks and uncertainties about the Company’s business are more fully discussed in the BVN’s form 20-F filed with the Securities and ExchangeCommissionin the U.S. and availableat www.sec.gov . Readers are urged to read these materials. Buenaventura assumes no obligation to update any forward-looking information or to update the reasons why actual resultscould differfrom such informationunless requiredby law.
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Executing Our Strategy: Solid Operational Performance 3.6 3.6 Ag (MOz) 30.5 27.3 Au (kOz) 13.5 13.2Cu (kton) 2% 12% Real 2Q25 Real 2Q26 Consolidated Production (1) San Gabriel: Produced 2.8k ounces of gold and began commercialization in 2Q26. Yumpag: On July 10, 2026, the Company received approval to increase the mining rate to 1,200 from 1,000 tonnes per day. Note: (1) Consolidated figures considers 100% BVN, 100% La Zanja and 100% El Brocal. 3 2% CAPEX 2Q26 In US$ millions 6 5 10 17 61 Otros Trapiche Uch / Yum El Brocal San Gabriel Total: US$ 98M
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369 529 2Q25 2Q26 98 261 2Q25 2Q26 Executing Our Strategy: Strong Results and Financial Discipline Total Revenues In US$ millions Net Income In US$ millions On July 24, 2026, Buenaventura received US$118 M in dividends related to its stake in Cerro Verde. Total dividends received YTD 2026 amounted to US$274 M. 6.14x 3.58x 2.80x 2.44x 0.34x 0.22x -0.05x -0.05x FY20 FY21 FY22 FY23 FY24 FY25 1Q26 2Q26 EBITDA Direct Operations In US$ millions = EBITDA Margin 130 277 2Q25 2Q26 35% 52% +43% +165% +113% Leverage Ratio (Net Debt / EBITDA) Net Cash Position: US$67M Cash Position: US$ 759 M Debt: US$ 692 M Dividends Received 4
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Cost Discipline & Operational Stability Uchucchacua & Yumpag: • Continued impact from higher commercial deductions (escalators) El Brocal: • Steady operational performance Copper Silver Gold US$/TMF-CuUS$/Oz-AgUS$/Oz-Au San Gabriel: • Following the commencement of sales recognition in 2Q26, gold CAS was recorded for the first time. As San Gabriel remains in the ramp-up phase, CAS is not yet fully representative of the operation’s expected steady-state cost profile 6,056 6,869 6,414 6,478 6,083 6,787 6,362 6,456 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 16.6 17.9 16.4 16.7 18.3 22.5 29.4 27.6 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 1,334 1,635 1,749 2,136 1,826 1,973 1,908 2,388 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Note: (1) Consolidated figures considers 100% BVN, 100% La Zanja and 100% El Brocal. Cost Applicable to Sales (1) 5
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San Gabriel: Ramp-up progressing Key milestones supporting the transition to steady-state throughput Mine • 3.0 ktpd mine production capacity by 4Q26, supported by full six-fleet deployment • Primary mine ventilation infrastructure completed • Undercut mining below cemented fill expected to commence in 3Q26 Tailings: • Filtered tailings compaction to begin in 3Q26 • Tailings facilities expected to support 2.0 ktpd throughput in 4Q26 • Expansion underway to support 3.0 ktpd throughput (2H27) 2026 production Guidance: 25k – 30k Gold Ounces Processing Plant • Plant stabilization at 1.7 ktpd targeted during 3Q26 • Focus on filter performance optimization and moisture control • Metallurgical recovery targeted to reach ~70% in 4Q26
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277 115 -43 -1 -274 68 -120 -7 -16 -1 EBITDA 2Q26 Working Capital Income taxes Interests Payments Dividends Paid Dividends Received CAPEX + Advanced Payments Mine Closure Financing repayment & Inflows, net FCFF 2Q26 Free cash flow generation(1) 338 -115 -16 68 -274 760 759 Beginning Cash 2Q26 Operations Cash flow Investing Activities Cash flow Financing Activities Cash flow Dividends Received Dividends Paid Final Cash 2Q26 2Q26 Cash generation In US$ millions 2Q26 EBITDA to FCF reconciliation In US$ millions Note: (1) Consolidated figures considers 100% BVN, 100% La Zanja and 100% El Brocal. 7
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San Gabriel continues to advance through its ramp-up phase, recording its first sales in 2Q26 and beginning to contribute to Buenaventura’s results. Continued execution of our growth strategy, achieving the first milestone to unlock Yumpag's full potential through the successful ramp-up to 1,200 tpd, while advancing the next phase of expansion. Exploration remains part of our DNA, supporting both Life of Mine extension and the long-term sustainability of our production growth. We remain committed to creating long-term shareholder value and delivering on our dividend policy. 1 3 2 Closing Remarks 8 4
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Q&A