Compañía de Minas Buenaventura A : Buenaventura anuncia la producción del 2do trimestre del 2022

Buenaventura Announces Second Quarter 2022

Production and Volume Sold per Metal Results

Lima, Peru, July 14, 2022 - 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 2Q22 results for production and volume sold.

2Q22 Production per Metal

(100% basis)

	1Q22	2Q22	6M22		2022 Updated
	(Actual)	(Actual)	(Actual)		Guidance (1)
						0
Gold (Oz.)					2 4 2 k 2- 6 8 k
Orcopampa
19,031	17,749	36,780		65k	- 70k
Tambomayo	13,867	14,351	28,218		48k	- 53k
La Zanja	5,900	4,767	10,667		37k	- 45k
Coimolache	19,512	19,930	39,442		80k	- 85k
El Brocal	4,350	4,457	8,807		12k	- 15k
Silver (Oz.)
Uchucchacua	0	0	0			0
El Brocal	1,059,666	806,123	1,865,789		3.0M	- 3.5M
Tambomayo	419,396	433,820	853,216		1.8M	- 2.4M
Julcani	661,132	640,557	1,301,689		2.2M	- 2.5M
Lead (MT)
El Brocal	2,497	1,306	3,803		5.0k	- 6.0k
Uchucchacua	0	0	0			0
Tambomayo	2,509	2,823	5,331		6.0k	- 8.0k
Zinc (MT)
El Brocal	8,772	4,146	12,918		16.0k	- 20.0k
Uchucchacua	0	0	0			0
Tambomayo	3,543	3,920	7,464		8.0k - 10.0k
Copper (MT)
El Brocal	10,159	10,537	20,696		40.0k	- 45.0k

1. 2022 outlook projections shown above are considered forward-looking statements and represent management's good faith estimates or expectations of future production results as of July 2022.

Contacts in Lima:	Contacts in NY:
Daniel Dominguez, Chief Financial Officer	Barbara Cano
[phone]	[phone]
Gabriel Salas, Head of Investor Relations	[e-mail]

1. 419 2591 / [e-mail] Company Website: www.buenaventura.com.pe/ir

Compañía de Minas Buenaventura S.A.A.

Page 2 of 4

2Q22 Comments

Tambomayo:

• 2Q22 gold, lead and zinc production exceeded expectations due to an increase in grade and metallurgical recovery. 2022 guidance has subsequently been updated.
• 2Q22 silver production was in line with expectations for the quarter. 2022 guidance remains unchanged.

Orcopampa:

• 2Q22 gold production exceeded expectations due to an increase of treated ore and higher gold grades. 2022 guidance has been updated.

Coimolache:

• Production remained stable during the quarter with higher than expected gold production due to positive reconciliation of grades from the Mirador Norte open pit along with improved leaching permeability. 2022 guidance has been updated.

La Zanja:

• Partial recovery of mining rate at the Pampa Verde open pit subsequent to Peru's [January through April] rainy season. Inflationary pressure has accelerated Buenaventura's decision to put the mine under care and maintenance by 4Q22 in anticipation of oxides being largely depleted between October and December 2022. Buenaventura will then continue to focus on Cu-Au sulfide exploration within La Zanja's operational footprint. Any residual gold ounces remaining within the open pit will be recovered once La Zanja's Cu_Au project in confirmed. 2022 guidance remains unchanged.

Julcani:

• 2Q22 silver production was in line with expectations. 2022 guidance remains unchanged.

Uchucchacua:

• Exploration continues at the Uchucchacua mine according to plan with a focus on tunnels and diamond drilling during 2Q22. Underground crews are simultaneously in the process of being assembled in order to resume mine development during 3Q22, targeting production restart by 2H23.
• Yumpag project continued according to plan with progress related to construction and permitting during the second quarter. Production is targeted to begin during the 2H23. Exploration continued as planned at the Camila and Tomasa orebodies with positive results which likely will increase reserves and resources by the end of 2022.

Compañía de Minas Buenaventura S.A.A.

Page 3 of 4

El Brocal:

• Stable production at the underground mine at a rate of 8,000 tpd. 2Q22 copper production was in line with expectations. 2022 guidance remains unchanged.
• Tajo Norte's silver, zinc and lead production was below expectations during the quarter due to a change in the mine plan. 2022 guidance was updated.
• Rehabilitation work began in late June within the upper area of the open pit which required stabilization subsequent to the March 2022 landslide.
• Polymetallic ore derived from the open pit's low-grade stockpiles was processed during 2Q22. This will continue during 3Q22 while rehabilitation works progresses at the open pit.

Compañía de Minas Buenaventura S.A.A.

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2Q22 Payable Volume Sold

2Q22 Volume Sold per Metal (100% basis)

		1Q22		2Q22		6M22
		(Actual)		(Actual)		(Actual)
	Gold (Oz.)
	Orcopampa	19,307		17,719		37,026
	Tambomayo	12,181		12,917		25,098
	La Zanja	5,773		4,452		10,225
	Coimolache	20,586		20,551		41,137
	El Brocal	2,907	2,590	5,496
	Silver (Oz.)
	Uchucchacua	18,730		139,688		158,418
	El Brocal	852,933		650,260		1,503,193
	Tambomayo	351,077		376,313		727,390
	Julcani	636,303	605,634	1,241,937
	Lead (MT)
	El Brocal	2,239	1,071	3,310
	Uchucchacua	0		18		18
	Tambomayo	2,275	2,629	4,904
	Zinc (MT)
	El Brocal	7,256		3,370		10,626
	Uchucchacua	0		0		0
	Tambomayo	2,922	3,262	6,184
	Copper (MT)
	El Brocal	9,697	10,311	20,008
		Realized Metal Prices*
		1Q22		2Q22		6M22
		(Actual)		(Actual)		(Actual)
	Gold (Oz)	1,896		1,825		1,861
	Silver (Oz)	24.10		22.71		23.42
	Lead (MT)	2,363	2,180	2,280
	Zinc (MT)	4,105		4,489		4,257
	Copper (MT)	9,950	9,073	9,498

*Buenaventura consolidated figures.

Compañía de Minas Buenaventura S.A.A.

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Appendix

1. 2Q22 Production per Metal

	1Q22		2Q22		6M22
	(Actual)		(Actual)		(Actual)
Silver (Oz.)
Orcopampa	7,856		7,334		15,190
La Zanja	23,363		30,318		53,682
Coimolache	77,195	75,504	152,699
Lead (MT)
		124	224
Julcani	99

2. 2Q22 Volume Sold per Metal

	1Q22	2Q22		6M22
	(Actual)	(Actual)		(Actual)
Silver (Oz.)
Orcopampa	6,928		12,411		19,339
La Zanja	21,818		29,273		51,090
Coimolache	96,634		84,859	181,494
Lead (MT)
Julcani	76		93	168

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).

For a printed version of the Company's 2021 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 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.