Slides
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3Q26 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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431 545 3Q25 3Q26 Executing Our Strategy: Strong Results and Financial Discipline Buenaventura’s Board of Directors approved an interim dividend of US$ 0.5508 per share ADS 0.37x 0.50x 0.60x 0.43x 0.23x -0.05x -0.06x -0.25x 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Leverage Ratio (Net Debt / EBITDA) Net Cash Position: US$307M 3Note: : (1) Consolidated figures considers 100% BVN, 100% La Zanja and 100% El Brocal. 29.0 30.9Au (kOz) 3.4 4.3Ag (MOz) 13.6 12.8Cu (kton) Consolidated Production (1) Real 3Q25 Real 3Q26 7% -21% -6% Total Revenues In US$ millions +27% EBITDA Direct Operations In US$ millions = EBITDA Margin 195 261 3Q25 3Q26 45% 48% +34% 179 268 3Q25 3Q26 Net Income In US$ millions +50%
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Cost Discipline & Operational Stability UCH & YUM Coimolache US$/Oz-AgUS$/Oz-Au 12.5 11.4 9.5 13.3 11.9 10.4 9.0 10.5 11.7 13.3 11.0 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Note: (1) C1 Cash Cost consists of mine site costs of the Company’s mining units, plus mining royalties payable to third parties, commercial deductions and selling expenses, net of by-product credits. Cash Cost C1(1) 4 El Brocal US$/TMF-Cu 5,228 7,390 5,271 6,127 6,226 5,956 5,273 5,587 3,442 4,829 5,474 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 760 1,593 1,529 1,631 1,171 1,351 1,405 1,130 821 972 1,103 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 • Higher cash cost mainly due to tailings management cement consumption and the transition to owner-operated equipment. • Copper production increased 7% YoY . • Operation reached a processing rate of 13.5 ktpd. • Lower planned silver grades. • Higher cash cost driven by the selective OCF mining method at Yumpag and the transition to an owner-operated fleet. • Lower cash cost supported by higher payable gold production and stronger by-product credits.
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261 59 -44 -22 -8 126 -122 -9 0 242 EBITDA 3Q26 Working Capital Income taxes Interests Payments Dividends Paid Dividends Received CAPEX + Advanced Payments Mine Closure Financing repayment & Inflows, net FCFF 3Q26 Free cash flow generation(1) 271 -126 -22 126 1,001 759 -8 Beginning Cash 3Q26 Operations Cash flow Investing Activities Cash flow Financing Activities Cash flow Dividends Received Dividends Paid Final Cash 3Q26 3Q26 Cash generation In US$ millions 3Q26 EBITDA to FCF reconciliation In US$ millions Note: (1) Consolidated figures considers 100% BVN, 100% La Zanja and 100% El Brocal. 5
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San Gabriel: Ramp-up progressing Key milestones supporting the transition to steady-state throughput Mine • Undercut mining below cemented fill commenced in 3Q26 • Mining rate stabilized at 1.7 ktpd by the end of 3Q26 • Production ramp up ahead of plan Tailings • Filtered tailings compaction commenced in 3Q26 • Tailings facilities expected to support 1.5 ktpd throughput in 4Q26 • Additional drying areas expected by 2Q27, ahead of the next dry season Processing Plant • First phase of filtration system reinforcement completed in 3Q26 • Focus on filter performance optimization through 1H27 • Metallurgical recovery targeted to reach ~70% in 4Q26 Drying areas Compacted tailings
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We are actively addressing operational challenges at San Gabriel, with a clear focus on reaching full ramp-up. Advancing initiatives to unlock the full value of our flagship operations, through operational efficiencies, capacity increases, and greater exploration efforts. Proactive preparation for a potential El Niño event, with significant progress already achieved to safeguard operational continuity. Returning value to shareholders with an interim dividend equivalent to 20% of 9M26 net income, ahead of the Board’s annual dividend proposal at its next meeting. 1 3 2 Closing Remarks 7 4
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Q&A