Mineros S A : Q1 2022 Consolidated FS Mineros

MINEROS S.A.

CONDENSED INTERIM CONSOLIDATED FINANCIAL

STATEMENTS

For the three-months ended March 31, 2022 and 2021 and December 31, 2021

(Thousands of United States Dollars)

General Notes

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

THOUSANDS OF UNITED STATES DOLLARS

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS

NOTE 1. CORPORATE INFORMATION

NOTE 2. STATEMENT OF COMPLIANCE

NOTE 3. BASIS OF PRESENTATION

NOTE 4. RECENT ACCOUNTING PRONOUNCEMENTS

NOTE 5. FINANCIAL INSTRUMENTS

NOTE 6. IMPAIRMENT

NOTE 7. SEGMENTS

NOTE 8. REVENUE

NOTE 9. COST OF SALES

NOTE 10. OTHER EXPENSES

NOTE 11. EXPLORATION EXPENSES

NOTE 12. EARNINGS PER SHARE

NOTE 13. CASH AND CASH EQUIVALENTS

NOTE 14. TRADE AND OTHER RECEIVABLES

NOTE 15. INVENTORIES

NOTE 16. TAXES

NOTE 17. EXPLORATION AND EVALUATION PROJECTS

NOTE 18. INTANGIBLE ASSETS, NET

NOTE 19. PROPERTY PLANT AND EQUIPMENT, NET

NOTE 20. LOANS AND OTHER BORROWINGS

NOTE 21. TRADE AND OTHER PAYABLES

NOTE 22. PROVISIONS

NOTE 23. OTHER ACCUMULATED COMPREHENSIVE INCOME

NOTE 24. TRANSACTIONS AND BALANCES WITH RELATED PARTIES

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NOTE 25. COMMITMENTS

NOTE 26. SUBSEQUENT EVENTS

NOTE 27. APPROVAL OF FINANCIAL STATEMENTS

30 30 30

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS FOR THE THREE-MONTHS ENDED MARCH 31, 2022 AND 2021 (UNAUDITED) THOUSANDS OF UNITED STATES DOLLARS

Note	31/03/2022	31/03/2021
Revenue	8	124,650	125,392
Cost of sales	9	(92,005)	(88,332)
GROSS PROFIT	32,645	37,060
Administrative expenses	(5,437)	(4,608)
Other income	748	547
Other expenses	10	(2,204)	(4,241)
Exploration expenses	11	(2,685)	(1,140)
Finance income	368	386
Finance expense	(2,318)	(2,114)
Foreign exchange differences	(2,704)	(1,012)
PROFIT FOR THE PERIOD BEFORE TAX	18,413	24,878
Current tax	16	(9,247)	(9,267)
Deferred tax	16	1,306	(1,842)
NET PROFIT FOR THE PERIOD	10,472	13,769
Attributable to:
Controlling interest	10,472	13,706
Non-controlling interests	-	63
NET PROFIT FOR THE PERIOD	10.472	13.769
Basic and diluted earnings	12	0.03	0.05
(Signed)" Andrés Restrepo Isaza"
ANDRÉS RESTREPO ISAZA
PRESIDENT AND CEO

T.P.74290-T

(Signed)"Miguel Angél Hinestroza Hoyos"

MIGUEL ÁNGEL HINESTROZA HOYOS ACCOUNTANT

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME FOR THE THREE-MONTHS ENDED MARCH 31, 2022 AND 2021 (UNAUDITED)

THOUSANDS OF UNITED STATES DOLLARS

31/03/2022

31/03/2021

NET PROFIT FOR THE PERIOD

Other comprehensive income for the period, net of taxes

Items that will not be reclassified subsequently to profit or loss:

Revaluation of property, plant and equipment

Items that may be reclassified subsequently to profit or loss:

Cash flows hedges

Foreign exchange differences on translation of foreign operationsForeign exchange differences on translation of foreign operations non-controlling interests

10,472 13,769

33 226

33 226

(2,020) 4,450

478 1,886

(1,542) 6,336

- (160)

Other comprehensive (loss) income, net of taxes

(1,509) 6,402

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

Total comprehensive income attributable to:

Controlling interest

Non-controlling interests

(Signed)" Andrés Restrepo Isaza"

ANDRÉS RESTREPO ISAZA PRESIDENT AND CEO

8,963 20,171

8,963 20,268

- (97)

8,963 20,171

(Signed)"Miguel Angél Hinestroza Hoyos"

MIGUEL ÁNGEL HINESTROZA HOYOS ACCOUNTANT

T.P.74290-T