Business Wire | Jul 20, 2020 09:01AM EDT

Buenaventura Announces Second Quarter 2020 Production Results

Jul. 20, 2020

LIMA, Peru--(BUSINESS WIRE)--Jul. 20, 2020--Compaia 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 2Q20 results for production and volume sold.

In order to ensure transparency in light of uncertainties associated with the current operating environment, Buenaventura will be releasing its production data on a monthly basis until greater production continuity and visibility is possible.

2Q20 Production per Metal (100% Basis)Phase 1 Tambomayo Jan Feb Mar 1Q Apr May Jun 2Q 6M20

Au [Oz] 5,111 7,067 2,371 14,549 2,804 6,162 8,155 17,121 31,670

Ag [Oz] 132,079 200,105 53,347 385,532 99,322 151,018 159,670 410,010 795,541

Pb [MT] 543 443 208 1,194 213 351 626 1,190 2,384

Zn [MT] 609 461 197 1,267 182 243 405 831 2,098

Uchucchacua Jan Feb Mar 1Q Apr May Jun 2Q 6M20

Ag [Oz] 773,878 767,022 415,563 1,956,463 0 451,825 527,183 979,008 2,935,471

Pb [MT] 1,044 814 414 2,273 0 245 508 753 3,026

Zn [MT] 1,179 861 320 2,360 0 107 355 462 2,822

El Brocal Jan Feb Mar 1Q Apr May Jun 2Q 6M20

Au [Oz] 1,570 1,476 1,008 4,054 0 0 1,049 1,049 5,103

Ag [Oz] 221,958 267,914 188,195 678,067 0 0 248,693 248,693 926,761

Pb [MT] 1,535 2,579 1,346 5,460 0 0 2,188 2,188 7,648

Zn [MT] 5,089 5,692 4,277 15,058 0 0 4,385 4,385 19,442

Cu [MT] 3,415 3,053 2,654 9,122 0 0 3,045 3,045 12,167

Coimolache Jan Feb Mar 1Q Apr May Jun 2Q 6M20

Au [Oz] 10,095 6,679 5,719 22,493 4,635 3,532 5,385 13,551 36,044

Phase 2Julcani Jan Feb Mar 1Q Apr May Jun 2Q 6M20

Ag [Oz] 217,316 219,535 113,700 550,552 249 0 135,928 136,177 686,729

Pb [MT] 54 59 36 149 0 0 29 29 178

Orcopampa Jan Feb Mar 1Q Apr May Jun 2Q 6M20

Au [Oz] 3,992 4,129 40 8,160 0 0 7,612 7,612 15,773

La Zanja Jan Feb Mar 1Q Apr May Jun 2Q 6M20

Au [Oz] 614 1,750 932 3,297 0 1,779 1,249 3,028 6,325

*Silver guidance expressed in millions and gold, Copper, Lead and Zincguidance expressed in thousands.**Guidance is subject to continuous review based on the possible disruptionsrelated to COVID-19 (increase of cases at our operations, new governmentregulations and social disruptions).

YanacochaProduction Jan Feb Mar 1Q Apr May Jun 2Q 6M20

Au [Oz] 45,520 35,326 40,956 121,802 21,680 17,070 29,078 67,827 189,629

Phase 1

* Tambomayo Total workforce (approx.): 700 All workers remain within operations footprint Operation isolated from communities COVID-19 mortality rate at regional level per millions of people*: 324 vs 381 (national average)

* Uchucchacua Total workforce (approx.): 1,800 All workers remain within operations footprint Operation isolated from communities COVID-19 mortality rate at regional level per millions of people*: 553 vs 381 (national average)

* El Brocal Total workforce (approx.): 2,000 Workers partially accommodated within operational footprint Communities located near the operation COVID-19 mortality rate at regional level per millions of people*: 118 vs 381 (national average)

* Coimolache: Total workforce (approx.): 1,200 All workers remain within operations footprint Operation isolated from communities COVID-19 mortality rate at regional level per millions of people*: 93 vs 381 (national average)

Phase 2

* Julcani: Total workforce (approx.): 950 Workers partially accommodated within operations footprint Communities located near the operation COVID-19 mortality rate at regional level per millions of people*: 65 vs 381 (national average)

* Orcopampa: Total workforce (approx.): 800 Workers partially accommodated within operations footprint Communities located near the operation COVID-19 mortality rate at regional level per millions of people*: 324 vs 381 (national average)

* La Zanja: Total workforce (approx.): 750 All workers remain within operations footprint Isolated from communities COVID-19 mortality rate at regional level per millions of people*: 93 vs 381 (national average)

*Source: Macroconsult Daily Bulletin "Covid-19 and the economy" 07/15/2020

2Q20 Payable Volume sold per Metal (100% basis) 1Q20 2Q20 1H20 (Actual) (Actual) (Actual)Gold (Oz.)Orcopampa 9,016 3,675 12,690

Tambomayo 5,286 16,499 21,785

La Zanja 3,295 4,032 7,327

Coimolache 23,978 14,549 38,528

El Brocal 2,639 633 3,272

Silver (Oz.)Uchucchacua 1,880,330 644,014 2,524,344

El Brocal 466,365 187,339 653,704

Tambomayo 110,661 487,028 597,690

Julcani 514,114 119,531 633,645

Lead (MT)El Brocal 5,145 1,888 7,033

Uchucchacua 1,972 403 2,375

Tambomayo 282 1,547 1,828

Julcani 95 25 121

Zinc (MT)El Brocal 12,438 3,575 16,013

Uchucchacua 1,874 366 2,240

Tambomayo 992 810 1,802

Copper (MT)El Brocal 8,458 2,758 11,217

Realized Metal Prices* Gold (Oz) 1,692 1,775 1,738

Silver (Oz) 17.16 16.67 17.00

Lead (MT) 1,653 1,460 1,587

Zinc (MT) 1,824 1,112 1,655

Copper (MT) 5,536 5,085 5,425

*Buenaventura consolidated figures

Compaa de Minas Buenaventura S.A.A.

Company Description

Compaa 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*, El Brocal, La Zanja and Coimolache).

The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership with Newmont Mining Corporation & Sumitomo Corporation), an important precious metal producer and 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer (a partnership with Freeport-McMorRan Inc., Sumitomo Corporation & Sumitomo Metals).

For a printed version of the Company's 2019 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 the Company's, Yanacocha's and 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, Yanacocha's and 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200720005421/en/

CONTACT: Contacts in Lima: Leandro Garca, Chief Financial Officer (511) 419 2540

CONTACT: Rodrigo Echecopar, Head of Investor Relations (511) 419 2591 / rodrigo.echecopar@buenaventura.pe

CONTACT: Contacts in NY: Barbara Cano (646) 452 2334 barbara@inspirgroup.com