Compañía de Minas Buenaventura S.A.A.
Annual Report 2022

Plain-text annual report

1 INTEGRATED INTEGRATED ANNUAL ANNUAL REPORT REPORT BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGBuenaventura INTEGRATED ANNUAL REPORT 2022 CONTENT 03 04 05 11 STATEMENT OF LIABILITY ABOUT THE ANNUAL REPORT MESSAGE FROM OUR BOARD OF DIRECTORS WE ARE BUENAVENTURA Corporate Profile History Initiatives and Endorsements CORPORATE GOVERNANCE 15 Shareholder and Economic Group Structure Board of Directors Senior Management Ethical Conduct: Policies and Regulations Compliance Legal procedures OPERATIONS, PROJECTS AND NEW BUSINESSES Operations Projects Other Businesses SUSTAINABILITY Sustainability Strategy Human Rights Acknowledgements 22 52 58 PERFORMANCE Buenaventura Integrated Management System (SIB) Risk Management Cybersecurity Innovation Supplier and contractor management HUMAN CAPITAL 64 Welfare and Benefits Work Climate and Commitment Training and Development Safety SOCIAL MANAGEMENT 73 Outreach and communications Boosting of the local economy Infrastructure Human Development Other social indicators 80 87 ENVIRONMENTAL MANAGEMENT Environmental Management Instruments Water Management Climate Change and Emissions Environmental Innovation Mine Closure Other environmental indicators FINANCIAL RESULTS Economic and Financial Report Financial Statements Management Analysis and Discussion WE DO MORE THAN MINING 2 2 ANNEXES 97 Operations Summary Shares and ADRs behavior Career of Board Members Career of the members of the Vice- Presidency and General Management Members of the Management BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING Buenaventura INTEGRATED ANNUAL REPORT 2022 WE DO MORE THAN MINING 3 3 3 STATEMENT OF LIABILITY This document contains true and sufficient information regarding the business development of Compañía de Minas Buenaventura S.A.A. during 2022. Notwithstanding the issuer’s responsibility, the undersigned is responsible for its content, in accordance with the applicable legal provisions. Leandro García Raggio General Manager Buenaventura Lima, March 31, 2023 BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING 4 ABOUT THE ANNUAL REPORT Our Integrated Annual Report 2022 takes into consideration the guidelines of the Superintendence of Securities Market (SMV in Spanish) set forth in the Regulations for the Preparation and Presentation of Annual Reports, approved by CONASEV Resolution No. 141-98-EF/94.10, as amended, and in the Manual for the Preparation of Annual Reports and Common Rules for the determination of the Content of Information Documents, approved by CONASEV General Management Resolution No. 211-98-EF/94.11, as amended. This edition details the financial and non-financial aspects of the environmental, social, and governance spheres of our operations corresponding to the period from January 1 to December 31 of 2002, taking the standards of the Global Reporting Initiative (GRI) as reference and aligning with the Dow Jones Sustainability Indices (DJSI) The information we provide is organized according to our materiality defined in 2021. In said year, we were able to identify issues having a substantial influence on the operation. This allowed us to plan our management, identify risks based on the prioritization of ESG issues, make decisions with a strategic vision, report our main indicators, and report our management results. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING5 MESSAGE FROM OUR BOARD OF DIRECTORS DEAR SHAREHOLDERS AND READERS, We are pleased to present, for the first time, our Integrated Annual Report, which includes Buenaventura’s Sustainability Report in a single document. In this way, we wish to comprehensively display our environmental, social and governance (ESG) management, which reflects the value we contribute as a company to all our stakeholders, to the regions where we operate, and to the country. Since December of 2022, Peru is going through one of the most complex and difficult chapters of the 21st century. The constant confrontation between the political sectors, the crisis of representation that affects the population, and the high levels of mistrust and lack of dialogue among Peruvians have created a climate of uncertainty that is causing mass mobilizations in various areas of the country. On December 7, 2022, after then President Pedro Castillo announced the decision to dissolve the Congress of the Republic and to establish an emergency government, the Parliament, in application of the constitutional order, MESSAGE FROM OUR BOARD OF DIRECTORS declared the presidential vacancy and appointed Dina Boluarte as the presidential successor. the projections of the Central Reserve Bank of Peru (BCRP). Since taking office, President Boluarte is facing an outbreak of violence that has focalized in eight regions of the country, such as Puno, Arequipa, Apurímac, Ayacucho, Cusco, Madre de Dios, and, lately, Lima. The agenda thereof is to promote a constituent assembly for the elaboration of a new Magna Carta, close the Congress and demand early elections for 2023. Evidently, this situation is impacting the expectations of Peruvian families and the national economy which, for 2022, recorded a modest growth of 2.9% and, for 2023 would experience a similar growth, according to The upheaval in the country is affecting all economic sectors. However, analysts indicate that it mainly affects the mass consumption, retail, transportation, hotel industry, agricultural industry, and small business sectors. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGAccording to the World Bank’s figures, in 2022: United States grew by 1.9%, while Europe grew by 3.3%. China, in turn, experienced a growth of 2.7%, and Latin America and the Caribbean, of 3.6%. The mining sector is no exception. Although the Statistical Bulleting of the Ministry of Energy and Mines states that mining investments at the end of 2022 amounted to US$ 4615 million, which represents a 3.2% increase compared to the same period in 2021, the reality is that there is a downward trend in the spending by mining companies. This decline in mining investments is mainly due to the social conflicts that, in many parts of 2022, paralyzed important operations such as Antamina, Las Bambas, Apumayo, Cuajone, and Nexa. Additionally, significant investments such as Newmont Corporation’s Yanacocha Sulfuros project, located in Cajamarca, were postponed. In 2022, the international context was also complex and was marked by the conflict between Russia and Ukraine and the end of the pandemic in most of the world, but with a new outbreak of COVID-19 in China that impacted the growth of this Asian giant. According to the World Bank’s figures, in 2022, the United States grew by 1.9%, while Europe grew by 3.3%. China, in turn, experienced a growth of 2.7%, and Latin America and the Caribbean, of 3.6%. In most of the countries, growth was low and below the projections at the beginning of the year. For 2023, the World Bank projects that global growth will slow down to 1.7%. This slowdown will be partly caused by the application of restrictive policies to curb inflation, the increase of interest rates, the reduction of investments and the effects of the armed conflict between Russia and Ukraine. Also, the World Bank foresees the United States growth will fall by 0.5% in 2023, while no growth is expected for Europe this year. On the other hand, it is expected that China will grow by 4.3% in 2023, 0.9% below previous projections. Finally, it is expected that the growth of Latin MESSAGE FROM OUR BOARD OF DIRECTORS 6 America and the Caribbean will decrease by 1.3% by the end of this year. As can be seen, the growth of the global economy in 2023 will be among the lowest of the last 30 years. In Peru, the election of new regional and local authorities will impact public investment, which will grow marginally due to the natural learning curve of the new officers. Additionally, during most of the year, the election campaign prior to the general elections will draw the attention of the whole country. We expect that, through dialogue and unity, Peru could return to the path of peace, growth and investments that will create more employment and well-being for all. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGWith regard to the price of commodities, as of December 31, 2022, the price of the ounce of gold was US$ 1824, while silver closed at US$ 23.95 per ounce, according to Bloomberg. Meanwhile, the London Metal Exchange reported that the ton of copper closed the year at US$ 8387, and the ton of zinc, at US$ 3025. Lead closed the year at US$ 2335 per ton. Buenaventura’s share price increased by 2% during 2022, closing at US$ 7.45. In the year under review, our company had a net profit of US$ 602.9 million, compared to the loss of US$ 262.8 million in 2021. This profit considers US$ 478.5 million, mainly related to the transaction with Newmont. Excluding said benefit, the company’s net profit amounts to US$ 124.4 million. The net debt/EBITDA ratio for 2022 decreased from 3.58x to 2.80x. The cash position at the end of 2022 decreased from US$ 377.0 million to US$ 253.9 million and the CAPEX was US$ 152.0 million. On the other hand, on February 7 of 2022, we signed definitive agreements with Newmont Corporation to sell the total shares owned by Buenaventura in Minera Yanacocha S.R.L through its subsidiary, Compañía Minera Condesa S.A. These shares represented 43.65% of the capital stock of said company. This decision allowed our company to focus on its asset portfolio, particularly on promoting the development of the projects in its portfolio (Yumpag, San Gabriel and Trapiche), and to reduce its financial debt levels, increasing the return in favor of its shareholders. In terms of safety, on March 19 of 2022, an unfortunate collapse occurred in the open pit of the Colquijirca mine of our subsidiary El Brocal, in Pasco, which killed three of our coworkers from contractor companies. This terrible accident saddens all of us who are part of the Buenaventura family. Because of this unfortunate event we temporarily suspended all the activities in this area of the El Brocal pit until we could guarantee conditions were MESSAGE FROM OUR BOARD OF DIRECTORS 7 safe to resume operations and conduct the corresponding investigations. We also implemented all the corrective measures to prevent such an accident from happening again in our company. We express our deepest condolences to the families of our coworkers for this irreparable loss. As to our Social Management, through the Shared Social Responsibility approach, we continued to join efforts among the State, the company and society to promote sustainable, decentralized and inclusive development of the regions and the country. In 2022, we focused on four main aspects: Water and sanitation, irrigation, connectivity and road infrastructure. Thus, we have completed 24 projects that benefit more than 60 thousand people in Arequipa, Pasco, Cajamarca, Huancavelica, Apurímac, Moquegua, and Lima, valued at around US$ 10 million. Of this amount, approximately US$ 5 million correspond to the works for taxes mechanism. On the other hand, in 2022, we procured products and services from local companies for more than US$ 225 million in the regions where we operate. Likewise, through our Productive Development Program and Business Articulation, PRA OUR COMPANY HAD A NET PROFIT OF US$ 602.9 MILLION, COMPARED TO THE LOSS OF US$ 262.8 MILLION IN 2021 BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGBuenaventura, we supported 1451 producers, who registered accrued sales over US$ 17 million since 2014. One of the completed projects that we are pleased to share is the Huaruro Canal, in Tapay (Arequipa). This irrigation work will transport more than 140 liters of water per second to boost production activities in over 380 hectares of farmland in the area. Huaruro is a clear example that mining and agriculture can coexist for the sustainable development and well- being of Peruvians. Our Environmental Management focused on the application of adequate operational and preventive controls so as to minimize the impacts on the environment and contribute to the sustainability of our units, as well as the management of the responsible use of water, preserving its quality and ensuring its reuse and recirculation in all processes. Thus, in 2022, we arranged 42 environmental instruments, of which 8 were approved, 11 are still under evaluation and 17 are being prepared. Our Environmental Performance Index (EPI) reached a level of 95.5%, which allows us to show the degree of compliance with our commitments and action plans for responsible environmental management. MESSAGE FROM OUR BOARD OF DIRECTORS Through our PRA Buenaventura We supported 1451 producers, who registered accrued sales over US$ 17 million since 2014. 8 Also, we acknowledge the importance of water as a strategic resource for sustainable development, and we efficiently manage it in all our processes. In 2022, the water recirculation rate in operations was 90% in open pits and 87% in underground mines. In terms of our Human Resources Management, we closed 2022 with a total workforce of 11,190 employees. This number includes the employees of contractor companies providing services to our operations. Additionally, 63.31% of our total employees come from the regions and communities of our areas of influence, which makes us very proud. It is worth pointing out that, in the year under review, the Merco Ranking recognized Buenaventura among the top three mining companies for attracting and retaining talent in Peru. We are very pleased by this result, which reflects the commitment, effort, and sense of belonging of all of us who are part of this company. As for our work environment management, after the pandemic, we once again included our contractor companies in the 2022 Employee Engagement and Organizational Climate Survey (ECO, in Spanish), achieving a response rate of 80%, having surveyed more than five thousand employees. The results, included in this report, have led us to design action plans intended to address opportunities for improvement in all of our units and offices. The operational performance of our production units was within projection, except for El Brocal, where we had to modify the original mining plan due to the unfortunate collapse that happened in part of the open pit. Tambomayo, in Caylloma (Arequipa) produced 54,320 ounces of gold and 1,863,411 ounces of silver in 2022, compared to 69,554 ounces of gold and 1,815,288 ounces of silver in the previous year. The Orcopampa Unit, in the Castilla province (Arequipa), produced 74,478 ounces of gold, compared to 50,020 ounces in 2021. La Zanja and Coimolache, open-pit mines operating in BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGCajamarca, produced 29,616 and 82,408 ounces of gold in 2022, respectively, compared to 22,611 ounces of gold produced by La Zanja and 110,575 ounces of gold produced by Coimolache in 2021. The Julcani Unit, our alma mater in Huancavelica, where this year we celebrate our 70th anniversary, produced 2,640,689 ounces of silver, compared to the 2,572,036 ounces produced the year before. The mining plan for La Zanja was updated to reflect the increase of the operating expenses associated to the inflation of the raw materials cost during the third quarter of 2022. Consequently, mining operations were only extended until October of 2022, when the fourth phase was completed. Operations will be limited to leaching pads Sociedad Minera El Brocal (61.43% BVN), subsidiary company of Buenaventura operating the Colquijirca Unit, in Cerro de Pasco, produced 47,352 metric tons of copper and 23,359 metric tons of zinc, in 2022. In 2021, it produced 37,914 metric tons of copper and 35,975 metric tons of zinc. SOCIEDAD MINERA EL BROCAL (61.43% BVN), PRODUCED 47,352 METRIC TONS OF COPPER AND 23,359 METRIC TONS OF ZINC, IN 2022. until the first quarter of 2023, while we continue with explorations related to the underground copper and gold sulfides project. In Uchucchacua, Oyón, northern highlands of Lima, we continued with the mine preparation and development work as planned. Also, we are constantly reviewing the design of the mine so as to be more efficient and to reduce costs. Our plan is to resume operations by the end of this year. MESSAGE FROM OUR BOARD OF DIRECTORS At El Brocal, lead production levels were 6,791 tons, compared to 10,096 tons in 2021. Also, it produced 3,556,829 ounces of silver, compared to 6,158,981 ounces in the previous year. The production of lead, silver and zinc was lower compared to 2021, as part of the expected transition from polymetallic ore to copper ore, as well as due to the need to modify the mining plan as a result of the unfortunate collapse in part of the open pit, in March of 2022. Sociedad Minera Cerro Verde (19.58% BVN), an affiliated company operating in Arequipa, produced 441,554 metric tons of copper, compared to 402,370 metric tons the previous year. The effort dedicated to exploration workings is part of Buenaventura’s culture that ensures the 9 continuity of our business. In our Orcopampa, Uchucchacua, Tambomayo, Julcani and El Brocal underground units, we advanced 17,289 meters in exploration tunnels and 224,797 meters in diamond drilling, which includes 17,989 meters in the open pit at El Brocal. As for our projects, in 2022, we finished our prior consultation process at San Gabriel, which will extract gold in Moquegua. Also, the benefit concession, the mining plan, and the third supporting technical report were approved. On the other hand, we finished the construction of the advance camp and started earthmoving works. By the end of the year, we achieved a development of 60% in engineering and 76% in procurement and contract management, after having BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGawarded the earthmoving and camp contracts, among others, and started the bids for the mine development and power transmission line works. In 2023, we will complete the engineering and construction of the main accesses and waste dumps in San Gabriel. We will also begin camp construction and mine development as planned. In the Yumpag project, in Pasco, close to Uchucchacua, the explorations efforts turned out to be quite positive. We already have a significant volume of high-grade resources (approximately 200 million ounces of silver, potentially), which leads us to believe that this will be a long-life project. In Trapiche, copper project located in Apurímac, we 10 of our country for their effort and commitment to carry our company forward in these complex times. We invite you to review this Integrated Report to learn in detail about our achievements and challenges this year, which represent our responsibility towards our employees, their families, the communities, the society as a whole, and the environment. We renew and will continue to pursue these commitments so as to contribute to the development of Peru. Roque Benavides Chairman of the Board Lima, March 31, 2022 managed to successfully develop the second workshop of the Environmental Impact (EIA) in Mollebamba –despite the complex social situation– and started the dossier for the citizen participation plan for the third workshop and public hearing of the EIA. In 2023, we will continue with the drillings to complete the component engineering, and we will keep on strengthening our relationship with the communities. In Río Seco, Huaral, the EIA was approved and the closure plan was completed as part of the feasibility study of the hydrometallurgical project for the leaching of copper concentrates. In the Coimolache Sulfuros project, in Cajamarca, we resumed the explorations campaign. The audited resources will be presented by the end of this year. In 2023, we will finish the aforementioned explorations campaign and will define the mining designs. The pre- feasibility stage will begin by 2024, associated with our social strategies and the purchase of lands for the development of basic engineering. Finally, on behalf of the Board of Directors, we would like to thank the shareholders, our suppliers and all the stakeholders of the company, as well as to give a very special recognition to all the employees of our production units, projects and offices in eight regions MESSAGE FROM OUR BOARD OF DIRECTORS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING11 WE ARE BUENAVENTURA CORPORATE PROFILE Buenaventura was born 70 years ago, with the acquisition of Julcani mine, in Huancavelica, and has become one of the most important mining companies in Peru. We are dedicated to the extraction of gold, silver and other base metals, managing exploration, development, operation, and ore-processing activities. for our stakeholders. In that sense, we have various environmental care strategies, ensure the health and safety of our employees, encourage a responsible investment that allows the development of the communities in which we operate, and act with diligence towards our shareholders. Our business culture focuses on generating shared value Also, competitiveness in the mining industry is based on the operators’ efficiency WE ARE BUENAVENTURA in producing low-cost concentrates or ores due to the limited ability of producers to influence sales prices. Buenaventura, however, possesses very important competitive advantages, such as its ownership of significant mining deposits, its access to essential infrastructure, and a highly-trained human team. VISION Develop mineral resources while creating the highest value possible for society. MISSION Be the mining company of choice and the most widely accepted among communities, authorities and the general public. Make the company as highly valued as possible by all of its stakeholders. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGGENERAL INFORMATION Name: Compañía de Minas Buenaventura S.A.A. Private company engaged in mining and metallurgical Objective: Incorporation: Registration: CIIU*: activities in Peru. September 07, 1953 Item N° 02136988 of the Registry of Legal Entities of the Lima Registry Office. 1320 Mining of non-ferrous metal ores, except uranium and thorium Headquarters: Calle Las Begonias 415 – piso 19, San Isidro, Lima, Perú Telephone number: Website: (511) 419-2500 www.buenaventura.com * International Standard Industrial Classification WE DO MORE THAN MINING 12 12 VALUES Safety: Promote respect for the life of our collaborators in all our processes, operations and activities. Loyalty: Commit ourselves to our company, its mission, vision, and values. We are all part of the same team. Honesty: Act in an upright and honest manner, never lying, deceiving, or omitting the truth. Respect: To be considerate and courteous to people, their ideas, their culture and their rights. WE ARE BUENAVENTURA SOMOS BUENAVENTURA Industriousness: Be passionate about our work, giving our best and acting efficiently, safely, and responsibly. Transparency: Manage communications and actions that are truthful, clear, timely and unambiguous. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGBuenaventura INTEGRATED ANNUAL REPORT 2022 HISTORY Promoting the country’s development since 1953. WE DO MORE THAN MINING 13 13 PLATA Founding of Buenaventura Acquisition of Julcani mine in Huancavelica BVN lists on the Lima Stock Exchange COBRE BVN acquires 11% of El Brocal. As of 2017, BVN owns 61% JV1: COBRE Privatization of Cerro Verde (with Cyprus) JV₃: (1994: 30K → 2017: 450-500K Cu MT) 15 x ORO La Zanja (1M oz/Au produced to date) JV₄: Mn Inauguration of the Río Seco chemical plant ORO First dore bar obtained at Tambomayo 1953 1971 1979 1994 2010 2013 2016 1967 1975 1993 1996 2011 2014 2022 ORO PLATA Orcopampa (1967: 75 → 2017: 1.5K TPD) 20x Uchucchacua (1975: 150 → 2017:~4K TDP) 25x ORO First dore bar obtained at Yanacocha (Over 36M Oz/Au produced to date) JV2: First Latin American mining company to list in the New York Stock Exchange ORO Coimolache: First dore bar obtained ( ~1 M Oz Au produced to date) JV₅: Huanza: Hydroelectrical plan: Start of commercial operations (100 MX) BVN sold the total of its shares in Yanacocha to Newmont and purchased 100% ownership of La Zanja GOVERNMENTS OF PERU ODRÍA (1948-1956) PRADO UGARTECHE (1956-1962) BELAÚNDE (1963-1968) VELASCO (1968-1975) MORALES BERMÚDEZ (1975-1980) BELAÚNDE (1980-1985) GARCÍA (1985-1990) FUJIMORI (1990-2000) TOLEDO (2001-2006) GARCÍA (2006-2011) HUMALA (2011-2016) KUCZYNSKI (2016-2018) VIZCARRA (2018-2020) MERINO (2020-2020) SAGASTI (2020-2021) CASTILLO (2021-2022) BOLUARTE (2022-Present) WE ARE BUENAVENTURA BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING14 INITIATIVES AND ENDORSEMENTS THE EXTRACTIVE INDUSTRY TRANSPARENCY INITIATIVE (EITI) is an international alliance formed by 52 countries that gathers governments, extractive companies (mining, oil and gas) and civil society to render the payments made by companies to governments transparent in order to ensure a proper accountability and that the resources obtained through extractive activities promote the development of the member countries. Buenaventura has been part of this initiative since 2011, through which it seeks to promote public awareness regarding the government management of mining resources, having an impact on satisfactory progress in favor of the development of the country. UNITED NATIONS GLOBAL COMPACT Buenaventura adheres to the Global Compact since 2014, being the first mining company to do so. This encourages our firm commitment to respect human rights, to work on the basis of labor standards, to have policies and procedures for environmental care in place, and to promote the fight against corruption from all sectors. WE ARE BUENAVENTURA BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGSTATEMENT OF LIABILITY ABOUT THE ANNUAL REPORT MESSAGE FROM OUR BOARD OF DIRECTORS WE ARE BUENAVENTURA CORPORATE GOVERNANCE OPERATIONS, PROJECTS AND NEW BUSINESSES SUSTAINABILITY PERFORMANCE HUMAN CAPITAL SOCIAL MANAGEMENT ENVIRONMENTAL MANAGEMENT FINANCIAL RESULTS ANNEXES WE DO MORE THAN MINING 15 15 CORPORATE GOVERNANCE BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING 1616 To date, it has ten (10) mining operations/projects; two (02) companies related to electric generation and transmission activities; and one (01) company dedicated to the production of high-quality manganese sulphate monohydrate and other by-products generated from minerals. Shareholding Structure and Nationality Share over 5% as of December 31, 2022 Total, Common Shares 274,889,924 Name Percentage Share Nationality The Bank of New York Mellon Dr.(*)(**) Compañía Minera Condesa S.A. Benavides Harten, Alberto Martín (***) TOTAL USA Peruvian Peruvian 80.50 7.69 5.03 93.22 (*) THE BANK OF NEW YORK MELLON DR. Depository Bank, ADR holders (**) Includes some members of the Benavides family (***) Usufruct in favor of Benavides Ganoza, Roque Eduardo. OUR CORPORATE GOVERNANCE IS BASED ON PRINCIPLES AND RULES THAT REGULATE THE FUNCTIONING OF OUR GOVERNMENT BODIES AND GUIDE THE WAY WE DO THINGS. ONCE A YEAR, WE TRANSPARENTLY DISCLOSE OUR STANDARDS IN THE REPORT ON COMPLIANCE WITH THE CODE OF GOOD CORPORATE GOVERNANCE FOR PERUVIAN, WHICH IS APPROVED BY THE BOARD OF DIRECTORS. SHAREHOLDER AND ECONOMIC GROUP STRUCTURE As of December 31, 2022, Buenaventura’s capital stock is S/ 2,748,899,240 (two billion seven hundred forty-eight million eight hundred ninety-nine thousand two hundred forty and 00/100 soles), amount fully subscribed and paid, which is represented by 274,889,924 (two hundred seventy-four million eight hundred eighty-nine thousand nine hundred twenty-four) common shares with a par value of S/ 10.00 (ten and 00/100 Soles) each, and 744,640 (seven hundred forty-four thousand six hundred forty and 00/100 soles) investment shares with a par value of S/ 10.00 (ten and 00/100 Soles). Additionally, the company has 21,174,734 (twenty-one million, one hundred seventy- four thousand, seven hundred thirty-four) common shares and 472,963 (four hundred seventy-two thousand, nine hundred sixty- three) investment shares in portfolio. It is worth noting that, as of December 31, 2022, we held: 980 common shares. Of these, 18.217% correspond to shareholders residing in the country and 81.783% to non- residents 890 shareholders holding investment shares. CORPORATE GOVERNANCE BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGBUENAVENTURA HAS A SOCIAL CAPITAL OF S/ 2,748,899,240 CORPORATE GOVERNANCE 17 Shareholding structure Common Voting Shares as of December 31, 2022 Share holding Number of shareholders Shareholding percentage Under 1% 1% – 5% 5% – 10% Above 10% TOTAL 973 4 2 1 980 1.76 5.03 12.71 80.50 100.00 Shareholding structure Investment Shares as of December 31, 2022 Total,Investment Shares 744,640 Share holding Number of shareholders Shareholding percentage Under 1% 1% – 5% 5% – 10% Above 10% TOTAL 885 3 1 1 890 27.83 3.37 5.45 63.35 100.00 BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING18 Shareholding structure per type of investor as of December 31, 2022 SHARE: PEP612001003 Holding by shareholder type or proxy of the share composing the S&P Peru Selective Index (at year end) Number of holders Shareholding % 1 2 3 4 5 6 7 8 9 Members of the Board of Directors and the top management, including family members Corporation workers, not included in number 1 Individuals, not included in numbers 1 and 2 Pension funds managed by Pension Fund Administrators under the supervision of the Superintendence of Banking, Insurance and Pension Fund Administrators Pension fund administered by the Peruvian Social Security Administration (ONP, in Spanish) Peruvian State entities, except for the case mentioned in paragraph 5. Banks, financial institutions, municipal savings banks, small and micro enterprise development agencies (edpymes, in Spanish), rural banks and credit unions under the supervision of the of Banking, Insurance and AFP Regulator. Insurance companies under the supervision of the Superintendence of Banking, Insurance and Pension Fund Administrators Intermediation agents, under the supervision of SMV. 10 Investment funds, mutual funds and equity trusts under the Securities Market Law and the Investment Funds and Bank Trusts Law under the General Law of the Financial System. 11 Autonomous assets and foreign bank trusts, to the extent that they can be identified. 12 Foreign depositories that appear as shareholders under ADR or ADS programs. 13 Foreign depositories that appear as shareholders not included in number 12 14 Foreign custodians appearing as shareholders. 15 Entities that do not appear in previous numbers. 16 Shares belonging to the S&P/BVL Peru Select Index or proxy of these shares, in the portfolio of the company. TOTAL 18 0 923 1 0 1 0 0 1 0 0 1 0 0 33 2 980 10.11% 0.00% 1.67% 0.00% 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 80.50% 0.00% 0.00% 0.02% 7.69% 100.00% With 100% participation there were a total of 980 holders. CORPORATE GOVERNANCE BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGHolding by shareholders or the proxy of the share composing the S&P/BVL Peru Select Index, based on their residence (at year end) Resident Non-Resident Total See shares and ADR behavior in annexes The committees have an internal regulation that describes their specific responsibilities, roles and authority. The Board of Directors is in charge of reviewing and approving those regulations and the conclusions reached by these committees in their areas of competence. Through their chairmen, each committee will regularly inform the Board of Directors in full about the roles fulfilled. See the career of the Board members in Annexes. Number of holders Shareholding % 933 47 980 18.22% 81.78% 100.00% BOARD OF DIRECTORS GENERAL MANAGEMENT Our Board of Directors is formed by seven members, four of whom are independent. Annually, the performance of the Board of Directors as a governing body and that of each of its members is objectively assessed. The average term is 7.86 years. In 2022, attendance to board meetings was 100%. Also, the Board of Directors Regulations were updated and are published in our website. The Board of Directors has the following committees: Audit Corporate Governance Nominations and Compensations Sustainability and Innovation Operations The General Management has autonomy to fulfill their role in continuous alignment with the policies and guidelines defined by the Board of Directors. They are also responsible for complying with and enforcing an efficient, sound, responsible and transparent management. They are evaluated annually by the Compensation Committee of the Board of Directors under the Balance Score Card methodology. See the career of the members of the Vice-Presidency and General Management in Annexes. We are proud to point out that our company operates under high integrity standards set forth in Buenaventura’s Code of Ethics and Good Conduct CORPORATE GOVERNANCE WE DO MORE THAN MINING /LA SALUD E INTEGRIDAD DE TODOS ES NUESTRA PRIORIDAD 19 19 19 ETHICAL CONDUCT: POLICIES AND REGULATIONS We are proud to point out that our company operates under high integrity standards set forth in Buenaventura’s Code of Ethics and Good Conduct, making us an active actor in the fight against corruption, bribery or money laundering, among other unlawful acts. Additionally, we comply with our many rules and regulations: Conflict of Interest Policy Anticorruption Policy Code of Conduct of Business Partners Policy of Donations and/or Charitable Contributions Gift Policy Prevention Model Handbook BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGAlso, we are affiliated to the Code of Conduct of the National Society of Mining, Petroleum and Energy (SNMPE) and subject to its supervision. In 2022, we reduced the number of complaints for potential infractions to our Code of Ethics and Good Conduct, from 89 complaints –in 2021– to 68. Each of them was diligently addressed, and corrective actions and penalties proportional to the misconduct were generated, as determined by the investigations of the Ethics Committee and pursuant to our Internal Labor Regulations. TYPE OF COMPLAINTS WE ADDRESSED 2020 2021 2022 25 20 15 10 5 0 18 17 17 15 8 y t e f a S 11 11 9 4 n o i t a i r p o r p p a s i M s e c r u o s e r f o 13 8 5 n o i t p u r r o c d n a y r e b i r B s e r u d e c o r p r o s e i c i l o p h t i w e c n a i l p m o c - n o N e c n a i l p m o c - n o n l a g e L 23 17 13 21 19 16 l e c a p k r o W R H : s r e h t O t n e m s s a r a H l a u x e S / t n e m s s a r a h CORPORATE GOVERNANCE 20 LOCATION COMPLAINTS The localities that filed the most complaints during 2022 were: El Brocal, 37%; Cajamarca, 22%; and Lima, 16%. 3 7 % 1 2 % 16 % Lima 9 % 4 % % 2 2 Orcopampa | Tambomayo Uchucchacua Cajamarca (La Zanja, Tantahuatay) Brocal (Colquijirca) Others (Julcani, Huanza, Río Seco, Trapiche, Of. Arequipa ) LEVEL OF ATTENTION TO COMPLAINTS 60% of complaints were closed. 28% were referred to property security, occupational safety, human resources, logistics, and social affairs. 6% is still under investigation. 6% were dismissed due to lack of evidence. In 2022, we provided training on the Code of Ethics and Good Conduct to: 100% of the executive employees received the Code of Ethics and Good Conduct, 93% of which have been trained about their scope. 100% of suppliers and contractors have received access to the Code of Ethics and Good Conduct. 30 20 10 0 3 5 1 13 1 2 11 6 2 10 6 1 7 1T2022 2T2022 3T2022 4 T2022 Closed Under investigation Referred Dismissed BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING COMPLIANCE At Buenaventura, we have been adopting continuous improvements in our corporate policies and procedures, including the Handbook for the Prevention and Management of Money Laundering and Terrorist Financing (“ML/TF”) Risks, the Code of Conduct of Business Partners, the Gift Policy and the Donations and Charitable Contributions Policy, as well as the Personal Data Protection Policy. During 2022, we identified, updated and assessed improvements to our Corporate Compliance Program in order to keep Buenaventura at the forefront of effective corporate compliance standards and pursuant to good compliance practices worldwide. The United States Foreign Corrupt Practices Act (FCPA) and other compliance and regulation standards applicable to our operations in Peru were included. OUR GOAL FOR 2023 IS TO CONTINUE TO IMPLEMENT OUR EFFECTIVE CORPORATE COMPLIANCE PROGRAM CORPORATE GOVERNANCE 21 Our goal for 2023 is to continue to implement our effective Corporate Compliance Program, for which we will promote a sound compliance culture throughout the company; review and update the identification of risks in terms of compliance; and improve the controls and measures reasonably designed for the prevention, action, and response to any event. LEGAL PROCEDURES As a result of the review processes of the annual tax returns for fiscal years 2007 and 2008, the Tax Authority does not recognize the commercial contracts for physical deliveries and the contractual payments made by the company in those years; the Tax Authority considers that those payments correspond to an early financial settlement of Derivative Financial Instruments Contracts, and that the company did not confirm the hedging purpose and the covered risks. Likewise, it does not recognize the offset of tax losses during fiscal years 2009, 2010, 2013, 2014, and 2017, originating in fiscal years 2007 and 2008. Pursuant to the legal framework, on July 30 of 2021, the company paid said tax debt related to the processes of years 2007 to 2010. Notwithstanding the foregoing, the company will continue to exercise its legitimate right of defense in the corresponding administrative and judicial courts, where it expects to obtain a favorable result in line with the opinion of the lawyers responsible for the tax proceedings. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING WE DO MORE THAN MINING 22 22 OPERATIONS, PROJECTS AND NEW BUSINESSES STATEMENT OF LIABILITY ABOUT THE ANNUAL REPORT MESSAGE FROM OUR BOARD OF DIRECTORS WE ARE BUENAVENTURA CORPORATE GOVERNANCE OPERATIONS, PROJECTS AND NEW BUSINESSES SUSTAINABILITY PERFORMANCE HUMAN CAPITAL SOCIAL MANAGEMENT ENVIRONMENTAL MANAGEMENT FINANCIAL RESULTS ANNEXES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING Buenaventura INTEGRATED ANNUAL REPORT 2022 WE DO MORE THAN MINING 23 23 Business strategy Safety Social Relations Environment V alu e G O L D S I L V E R B M A E S T E A L S G O L D S I L V E R B M A E S T E A L S Uchucchacua Julcani El Brocal Cerro Verde (JV) & ! San Gabriel Yumpag Tambomayo Orcopampa Coimolache (JV) La Zanja Río Seco (Planta Química) Yanacocha Sulfuros (JV) Coimolache Sulfuros (JV) Trapiche Operations Projects OPERATIONS, PROJECTS AND NEW BUSINESSES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING24 District Tapay Province Caylloma, Arequipa Altitude 4800 m.a.s.l. Ownership 100% BVN Operation Underground Extracts Gold and silver Discovered By Buenaventura Start Date 2016 OPERATIONS: During 2022, 634,368 DMT were processed, recovering 3.06 g/t Au, 3.12 oz/t Ag, 1.79 %Pb and 2.40 %Zn in fines: 54,320 ounces of gold; 1’863,411 ounces of silver; 10,290 FMT of lead, and 13,511 FMT of zinc; from budgeted 50,442 ounces of gold; 2’538,187 ounces of silver; 5687 FMT of lead; and 7459 FMT of zinc. The metallurgical recovery of gold was 86.94% out of an 83.4% budget. The cost applied to average annual sales was US$ 1,008 oz of Au. The ore reserves as of December 31, 2022, are: 911,940 DMT with 0.087 oz/t of gold (2.71 g/t), 6.33 oz/t of silver, 0.72% of lead, and 1.12% of zinc, representing 79,456 ounces of gold; 5’773,710 ounces of silver; 6566 MT of lead; and 10,234 MT of zinc. The excluding measured and indicated resources are 508,000 DMT with 0.091 oz/t of gold (2.83 g/t), 4.57 oz/t of silver, 0.98% of lead, and 1.63% of zinc, representing 45,720 ounces of gold, 2’321,560 ounces of silver, 4980 MT of lead, and 8290 MT of zinc. The main structure is the Mirtha vein with a NW-SE trend. The Paola and Paola Norte veins are developed in its SE end and contain 85% of the total mineral resources of this deposit. TAMBOMAYO OPERATIONS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGHACEMOS MÁS QUE MINERÍA 25 25 The mine area executed 9308 meters of mine workings, of which 898 meters were for development; 6937 meters, for preparation; and 1473 meters, for total exploration (1234m Capex and 239m Opex). The geology department executed 24,262 meters of diamond drilling, aimed at completing the recognition of structures within the operation, and at recategorizing and extending the resources (infill drilling). Four targets were explored, mainly in the area of Diques, Priscila, Venturosa, Profundización, the purposes of which are to start new exploration fronts around the current operation area, between levels 4540 and 4315. During 2023, we will continue to explore these same areas, including Profundización. OPERATIONS INVESTMENTS: PERMITS: In Plant, the stabilization process was completed with an investment of US$ 0.15 million, which includes acquiring assets, reaching a continuous treatment target of 1800 TMD. The compaction of 253,000 m3 of filtered tailings was completed, complying with the quality control parameters. Completion of the Huaruro irrigation canal project, which is socially committed to the expansion and improvement of the Belén, Paclla, Cosñirhua, Malata, San Juan de Chuccho, and Tapay fields, located in the district of Tapay, over a 246-ha area. During this year, US$ 9.26 million were invested, building a conduction line of 10,550 linear meters and three drop-off points in the areas of Belén, Malata, and Tapay. With this, we completed the project, which has a total length of 15,000 meters. In 2022, the 3rd Modification to the Semi- Detailed Environmental Impact Assessment (MEIAsd), referred to the authorization to lower the exploration ramp down to level 4040. It also includes DDH superficial platforms for the Diques and Soledad areas. By 2023, the IGO for the Start of Activities of the 3rd MEIAsd must also be approved. Entry of the MEIAd to SENACE, approval of the modification to the schedule of the Operations Closure Plan. Entry of the DGAAM of the 4th MEIAsd for the exploration of the Chaska area. DURING THIS YEAR, US$ 9.26 MILLION WERE INVESTED, BUILDING A CONDUCTION LINE OF 10,550 LINEAR METERS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING2626 SAFETY: ENVIRONMENT: SOCIAL AFFAIRS: EXPLORATIONS: In terms of safety management in 2022, there were no high-potential events. However, a relevant event was considered, which was related to the critical risk of “dry cargo transportation”, due to the overturn of an encapsulated dump-truck transporting concentrates, for which action plans focused on engineering controls were executed to prevent this from happening again. In view of the COVID-19 health emergency, during 2022, we continued with the monitoring plan and the prevention protocols, including the entrance screening with antigen test until April, and we increased the personnel transportation capacity to 100%. Also, we resumed the 14x7 working system and 100% of our personnel is vaccinated with the third dose. The cost of COVID protocols in 2022 was US$ 1.4 million of a US$ 1.1 million budget. OPERATIONS Four high-potential environmental events were reported. Two of them were related to the discharge of contact water into the receiving water body, one was related to the presence of informal mining, and one was due to the overturn of an encapsulated dump-truck transporting concentrates, which produced a partial spill of zinc concentrate. For these 04 events, a multidisciplinary investigation was conducted, and an action plan was prepared and 100% complied with. At the Chaska Project, authorizations were obtained from land owners (09) to carry out geophysics, exploration, and prospection workings in Tocallo, in charge of the Explorations area. Also, the signing of the extrajudicial transaction with the Velásquez Arotaype family for part of the Tambomayo property for the Los Diques project was achieved. As for the fulfillment of commitments, we completed the construction of one of the most significant projects for Buenaventura, which is the Huaruro Irrigation Canal that will supply 140 l/s for the expansion and improvement of the Belén, Paclla, Cosñirhua, Malata, San Juan de Chuccho, and Tapay fields. 100% OF OUR PERSONNEL IS VACCINATED WITH THE THIRD DOSE In 2022 we carried out two mapping and prospecting campaigns in the Soledad (320 ha) and Chaska (2500 ha) projects, over a total of 2820 ha. At Soledad, the main target was better defined, and, at Chaska, the length of the Chaska vain was increased by 1.5 km, for a total recognized length of 5.5 km. Also, the study of the Tambomayo 4th MEIAsd was started. The Gaby and Mayra projects are on hold due to the lack of social authorization. Therefore, it has been deemed necessary to expand the Suspension of Activities Commencement of both projects until December of 2023. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING27 District Orcompampa Province Castilla, Arequipa Altitude 3800 m.a.s.l. Ownership 100% BVN Operation Underground Extracts Gold and silver Discovered By Buenaventura Start Date 1967 OPERATIONS: During 2022, the plant treated 236,505 t of ore with a grade of 0.32 oz/t of gold (10.01 g/t) and 0.18 oz/t of silver, recovering the following in fines: 74,478 ounces of gold and 32,124 ounces of silver of an estimate of 65,016 ounces of gold and 29,593 ounces of silver. The metallurgical recovery achieved was 98% for Au and 74% for Ag. The cost applied to average annual sales was US$ 913 oz of Au. The ore reserves as of December 31, 2022, are: 255,292 DMT with 0.305 oz/t of gold (9.48 g/t), 0.14 oz/t of silver, representing 77,794 ounces of gold; 35,741 ounces of silver. The excluding measured and indicated mineral resources of the reserve report: 343,167 DMT with 0.288 oz/t of gold (8.96 g/t Au) 0.79 oz/t of silver, representing 98,856 ounces of gold and 271,102 ounces of silver. The mine area executed 12,412 meters of mine workings, of which 2374 meters were for development; 8974 meters, for preparation; and 1064 meters, for exploration (909 m Capex and 155 m Opex). The geology department developed an exploration program with 1065 meters of ORCOPAMPA OPERATIONS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING28 PERMITS: The third update of the Mine Closure Plan was submitted to MINEM. The purpose thereof was to dispose of 0.5 million m3 of waste material on the R4 tailings deposit. The corresponding approvals are expected by 2023. The R4A tailings deposit is located in the Tintaymarca community. This tailings deposit has a storage capacity of 275,514 m3 of tailings at 3809 m.a.s.l., for a period of 13 months. For 2023, it is projected to raise the dam to 3811 m.a.s.l., thereby storing 254,552 m3 of tailings, additionally, for a period of 18 more months. As a long-term project, in 2022, the Feasibility Engineering for a new reconfiguration of the R5 Tailings Deposit (1.2 million m3 capacity) was prepared. In 2023, it will be submitted to SENACE for approval as part of the second MEIA. INVESTMENTS: In the mine, infrastructure has been developed in the Pucará and Ocoruro areas to centralize the operations (62% and 22%, respectively, of the production programmed for 2023). The areas of Nazareno and Prometida are left for recovery, with a planned production of 16% in 2023. The Nazareno shaft was restored and started from level 3780 to level 3440, together with the De Cauville line at level 3540, so as to centralize the extraction of discarded rock and ore in the areas of Pucará, Nazareno, and Prometida, optimizing the use of dump-trucks down the mine. Three Rbs were built to optimize the integrated ventilation system, reducing the use of secondary fans. Two ponds (capacity of 10,000 m3 each) were built to treat sludges down the mine through filtering. A new pumping pipe system was installed to optimize the pumping capacity from 60% to 90% of the nameplate capacity. exploration workings and 35,794 meters of diamond drilling, divided into exploration drills holes (17,598 m) on the Ocoruro, Pucara Sur, Pucara Norte, R4 system, Rosario, and Ariana veins; and recategorization/ conformation drill holes (18,196 m) on the veins of the Nazareno, Prometida, Ocoruro, and R4 systems, executed between levels 3690 and 3440. In 2023, exploration will be prioritized in the Ariana Suroeste, Nazareno, and Prometida Noreste sectors. The R2 and R4 deposits are being used to store waste material from the mine, as part of the progressive closure. The transportation distance from Chipmo to the R2 and R4 deposits is 7.5 km. The current waste dump capacity in the R2 and R4 dumps is 150,000 m3, for a period of around 13 months. OPERATIONS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGBuenaventura INTEGRATED ANNUAL REPORT 2022 29 SAFETY: ENVIRONMENT: SOCIAL AFFAIRS: EXPLORATIONS: During the safety management of 2022, there were 05 high-potential events, of which 03 were related to the critical risk of ventilation, 01 related to the critical risk of electric power, and the last one related to the stability of the rock mass. Consequently, action plans focused on engineering controls were executed so as to prevent them from happening again. In 2022, in view of the COVID-19 health emergency, we continued with the monitoring plan and the prevention protocols, including the entrance screening with antigen test until April, and we increased the personnel transportation capacity to 100%. Also, we resumed the 14x7 working system, the open-track camp was opened, and 100% of the personnel was vaccinated with the third dose. The cost of COVID protocols in 2022 was US$ 1.2 million of a US$ 1.20 million budget. OPERATIONS Seven high-potential environmental events took place, mainly related to sediment entrainment due to heavy rainfall, failures in the operational controls down the mine, and deficiencies in the water conduction infrastructure. Corrective measures have been taken to prevent and minimize potential impacts on the environment and thus generate a better culture of environmental responsibility based on prevention and care for our environment Agreements with the peasant communities of Orcopampa and Sarpane were formalized into Public Deeds: Easement of 23.70 ha for the use of land located by the Corococha Lagoon (lagoon that collects water for the Huancarama power station). Easement of 5.32 ha for the use of various components in the peasant community of Sarpane for 25 years (both). Easement for the use of Brecha 5 exploration project, located in the Allhuire Annex of the Orcopampa community, for the duration of the project. Out-of-court settlement for the environmental accident of 2016, signed with the Orcopampa Sector of the Orcopampa community. In 2022, the Brecha 5 project (200x30m vein- breccia with significant results as to Au and Ag [0.4m@18.7 Au g/t @ 11 Ag oz/t]) was reviewed. The proposal is to drill 1800 m (04 DDH) in order to intercept mineralization of Au (>5g/t) Ag (>10 oz/t) and to validate the potential of the Mulañan Sur sector. Melissa project, located in the southernmost area of level 3540 of the Chimpo underground workings, 5655 m of drilling (12 DDH) were relogged, giving a new interpretation to the mineralization controls and proposing a 5000 m (10 DDH) drilling campaign to assess the continuity of the recognized bodies. The Esperanza, Elisabeth, and Perseverancia projects were reviewed, proposing to carry out structure reconnaissance and geophysics (IP) works to support a first phase of diamond drilling. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING30 District Hualgayoc Province Hualgayoc Altitude 3800 m.a.s.l. Ownership 40% BVN, 44% SPCC y 16% ESPRO Operation Open Pit Extracts Gold Discovered By Buenaventura Start Date 2011 OPERATIONS: Mining took place in the Tantahuatay 2, Mirador Norte, Mirador Sur, and Ciénaga Norte pits, between levels 3980 to 3852, 3980 to 3924, 4012 to 3932, and 4020 to 3932, respectively. A total of 7,712,047 DMT of oxide ore with grades of 0.435 g/t of gold and 0.10 oz/t of silver were sent to the leach pads. As of December 31, 2022, the proven and probable oxide ore reserves at Tantahuatay total 48,535,910 DMT with grades of 0.010 oz/t gold (0.315 g/t) and 0.3073 oz/t silver (9.56 g/t), which represent 499,349 ounces of gold and 14,918,051 ounces of silver. The excluding measured and indicated oxide ore resources as of December 31, 2022 add up to 17,438,550 DMT with 0.009 oz/t gold (0.280 g/t) and 0.5292 oz/t silver (16.46 g/t), which represent 156,985 ounces of gold and 9,228,502 ounces of silver. The extraction plan was restricted due to the capacity of the pads, which was reduced because of the lack of a construction permit, which was offset by the variable cut-off grade to maximize the processed ore grade. The production of fine metals amounted to 82,408 ounces of gold and 296,968 ounces of silver extracted as follows: COIMOLACHE OPERATIONS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGFresh ore: 79,430 Oz Au and 267,540 Oz Ag Re-leaching: 2225 Oz Au and 13,380 Oz Ag Sale of by-products: 753 Oz Au and 16,048 Oz Ag For 2022, the extractions in the leach pad were 76% gold and 39% silver. Also, cumulative extractions in the leach pad from the start of the operations to December 31, 2022, are: 74% gold and 18% silver. The cost applied to average annual sales was US$ 1393 per ounce of Au. With regards to the Mine Closure Plan, revegetation of the surroundings of the Tantahuatay 02 (7713 m3), Ciénaga Norte (24,580 m2) and Mirador (20,530 m2) pits was carried out. So was done in the Waste Material Deposit 02 (3715 m2 of revegetation and 1.54 ha of raincoat installation). It is worth mentioning that, in December of 2022, the Schedule for the Mine Closure Plan was updated. PERMITS: The Modification of the Tantahuatay pad Construction Permit was approved in October, and the Operating Permit request was submitted in November. The latter is expected to be approved by the 1Q of 2023. This will allow the expansion of Lifts 17 and 18 of the Tantahuatay pad, increasing its capacity by 2.9 MT for continued mining in 2023. Additionally, we started the construction of the access and mining ramp of the Tantahuatay Ext. NW pit, having made a progress of 226 meters out of 626 meters, and the construction of the Crown Ditch for the same pit, with a length of 319 meters, lined with concrete. Both works are to be concluded by the 1Q of 2023. It is expected that the approval of the third MEIAd for the expansion of the Tantahuatay pad will be delayed until the 2Q2023, and OPERATIONS 31 that the construction permit will be obtained by 4Q2023 and the operating permit by 2Q2024, thus allowing operation and expansion by the 3Q 2024. INVESTMENTS: The executed CAPEX was US$ 15.6 million, mainly for the construction of 6.80 ha in the Ciénaga pad and 2.30 ha in the Tantahuatay pad Phase 3 State 2. Also, the construction of the Ciénaga Norte Camp was finished, consisting of the installation of 60 portacamps with capacity for 120 people. Construction of ponds 210 (2900 m3), 137 (7000 m3), 138 (4500 m3) and collection canals (828 m) as part of the contact water management of Tajo Mirador. Finally, 23.33 hectares of land were purchased. SAFETY: During 2022, there were 1566 reports on substandard conditions and actions, 43 incidents, 20 minor accidents, 5 disabling accidents, and 0 fatalities. We also continued with the Plan for the monitoring, prevention and control of COVID-19 in the workplace, and we resumed the 9x5 work system after overcoming the restrictions caused by the pandemic. Likewise, we resumed 100% capacity in offices, transportation and food services. The DME CN Stabilization Plan submitted to Osinergmin, the Phase 01 works (relocation of ponds and waste material in the unstable area, raincoat installation) were 100% completed. Additionally, we started the installation of the pump system of ponds 103 to 137, and the construction of the Sub- Station, corresponding to Phase 02 of the Plan. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGTHE HEALTH CENTER IS UNDER CONSTRUCTION IN THE CHUGUR DISTRICT, CLOSING THE YEAR WITH A 70% PROGRESS AND AN INVESTMENT OF US$ 2.20 MILLION OPERATIONS ENVIRONMENT: SOCIAL AFFAIRS: There was one high-potential environmental event related to a failure caused by a contact water overflow, which was duly reported to the authorities. The corresponding environmental investigation was conducted and the corrective actions for this event were completed. The health center is under construction in the Chugur district, closing the year with a 70% progress and an investment of US$ 2.20 million. Likewise, park roads and sidewalks were built in the Chencho village, with an investment of US$ 0.22 million. Additionally, in the Ramírez village, we executed the Healthy Homes project, investing US$ 663,000 and allowing to improve the quality of life of the population. The main access road was blocked by the owners near the operation in May 2022. Negotiations are underway for the purchase of the respective possessions, which has resulted in the closing of negotiations 32 with four out of six owners until December 2022. As a contingent measure, we improved the alternative access to the operations through Abra Coimolache, which passes through the village of the El Tingo Peasant Community and reaches the checkpoint called Bravo 3, by widening the turning curves and building a bridge over the Las Águilas stream, with an investment of US$ 270,000. EXPLORATIONS: At the same time, the company continues to examine the viability of the Sulfuros Project. In 2022, priority was given to exploration and development works, focusing the drilling plan on the high-grade area, performing 14,895 m of diamond drilling. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING33 District Pulán Province Santa Cruz, Cajamarca Altitude 3500 m.a.s.l. Ownership 100% BVN* Operation Open Pit Extracts Gold Discovered By Buenaventura Start Date 2010 *On February 08 of 2022, the acquisition by Buenaventura of 100% of the shares of Minera La Zanja as part of the agreement between Buenaventura and Newmont for Minera Yanacocha, was announced. Operations: During 2022, mining was focused on the Pampa Verde pit, between levels 3316 and 3508 4,336,273 DMT of ore with grades of 0.376 g/t of gold and 0.107 oz/t of silver were sent to the leach pad. Mining took place between January and October of 2022. The mining activities of phase IV of PV were completed on October 28 of 2022. In the last two months of the year, the operating activities of the Unit focused on leaching the ore placed in the pad and on exploring within the pit footprint so as to generate additional oxide reserves in the short term and to continue with the mining of Phase V of the Pampa Verde pit. The extraction of fine metals reached 29,616 ounces of gold and 105,435 ounces of silver. For 2022, the extractions in the leach pad were 56.5% of gold and of 22.8% silver. The extractions accumulated in the leach pad from the start of the operations to December 31, 2022 are 67.4% of gold and 14.2% of silver. The cost applied to average annual sales was US$ 1820 oz of Au. With respect to Progressive Closure, during 2022, 3.45 ha were executed, of which LA ZANJA OPERATIONS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING34 WE WILL EXPAND THE MINING FOOTPRINT OF THE PAMPA VERDE PIT PHASE IV AND THE STORAGE CAPACITY BY 4Mt there is the closure of the PV Pit Chorreos - Sector 1 of 2.1 ha, closure of PV Pit Chorreos - Sub-Sector 03 with 0.81 ha, and phase 5 PV of slope closure with 0.52 ha. PERMITS: INVESTMENTS: Regarding the environmental permits, in 2022, the authority continued to assess the 10th MEIAsd, the objective of which is to update the exploration mesh with 597 platforms, to include the Olga- Isabel ramp, and to modify the execution schedule. Likewise, we continued with the proceedings for the Detailed Environmental Plan submitted to the DGAAM, the objective of which is to regularize some sectors of Tajo San Pedro Sur (SPS) - Macarena Sector, Backfill Nº 03 SPS, and Water Management Dams in the Macarena sector. Finally, with respect to the operating permits, the Modification of Authorization for the construction of the San Pedro Sur pad, which seeks to increase the storage capacity of the pad by 17MT, was filed in June of 2022. The Mining Plan Modification was submitted in August of 2022 with the purpose of expanding the mining footprint of Tajo Pampa Verde phase IV and to increase the waste dump capacity by 4 MT. Completion of the construction of Backfills 2 and 3 Pampa Verde, which were used to stockpile waste material from 2022 mining. Likewise, construction of the Press Filter at the San Pedro Acid Water Treatment Plant began, which included civil works, electrical grounding and the fabrication and installation of the sludge tank. This project is scheduled to be completed in 3Q2023. Construction of the contact water pumping system of Tajo Pampa Verde towards the Pampa Verde Treatment Plant. This system is formed by the system of ponds 13, 14, 15 (under construction) and 17 in Tajo Pampa Verde and its objective is to strengthen the water management system of the Pampa Verde sector. OPERATIONS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING35 Safety: Social Affairs: Explorations: During 2022, there were 4064 reports on substandard conditions and actions, 28 incidents, 12 minor accidents, 1 disabling accidents, and 0 fatalities. We also continued with the Plan for the monitoring, prevention and control of COVID-19 in the workplace, and we resumed the 9x5 work system after overcoming the restrictions caused by the pandemic. Likewise, we resumed 100% capacity in offices, transportation and food services. Environment: Three high-potential environmental events were reported in relation to contact water seepage in mining components and exceedances of water quality parameters at discharge points. The corresponding environmental investigations were conducted and the corrective actions for this event were completed. The maintenance of the access road from Carretera Nacional 3N to the Mining Unit was completed 100%, with an investment of US$ 460,000, without major social mishaps and within the scheduled time, ensuring safe transit to the Unit. The construction of 16 micro- reservoirs was completed in Caserío La Zanja. Three teachers and the Que Maestro program continued to support education, providing training to eleven teachers in the villages of the Area of Environmental Influence (AID). In terms of sulfide exploration, a total of 48 diamond drill holes were drilled in 2022, with a total of 15,892.20 m drilled within the Corredor Emperatriz project, evaluating breccias associated with the porphyry system - Au (Cu): Aurora, with 8509.20 m; Alba, with 2040.50 m; Fátima, with 885 m; and Amanda, with 226.40 m. Also, the HS - Au - Cu arsenical high sulfidation system was explored: El Cedrillo, with 2864.10 m, and Pampa Verde, with 1267 m. WE RESUMED 100% CAPACITY IN OFFICES, TRANSPORTATION AND FOOD SERVICES. OPERATIONS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING36 District Oyón Province Oyón, Lima Altitude 4500 m.a.s.l. Ownership 100% BVN Operation Underground Extracts Silver, lead and zinc Discovered By Buenaventura Start Date 1975 within our effective area pursuant to environmental and corporate commitments. Planned preventive maintenance activities were carried out for equipment oriented to reliability over time and aligned with the restart of operations for the last quarter of 2023 A business case was made for the sale of pyrite concentrate from the Mesapata tailings dam, which reached 76,467 DMT, exceeding the budget by more than 30%, with a silver content of approximately 19.20 oz/t Ag. As of December 31, 2022, the ore reserves between Uchucchacua and Yumpag¹, are 5’716,401 DMT with 10.42 oz/t silver, 1.16% Operations: During 2022, operations such as ore extraction and the process plant were halted. We also carried out DDH explorations and horizontal workings towards specific targets that lead to increase and improve the certainty of our reserves. Activities were performed for the maintenance of the mine and studies for the development of engineering for environmental instruments, and emphasis was placed on our operational controls UCHUCCHACUA OPERATIONS ¹ The Yumpag project is described in the project section. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGlead, 1.98 % zinc, and 7.44% manganese, representing a content of 59’576,790 ounces of silver, 66,267 MT of lead, and 112,968 MT of Zinc. (Uchucchacua: 4’381,470 DMT with 7.19 oz/t of silver, 1.36% of lead, 2.30% of zinc, and 4.51% of manganese, representing 31,524,162 ounces of silver, 59,743 MT of lead, and 100,618 MT of zinc; and Yumpag contributes 1,334,931 DMT with 21.01 oz/t of silver, 0.49% of lead, 0.93% of zinc, and 17.03% of manganese, representing contents of 28,052,628 ounces of silver, 6,524 MT of lead, and 12,350 MT of zinc). The report of measured and indicated resources excluding reserves between Uchucchacua and Yumpag is 2’642,250 DMT with 9.03 oz/t of silver, 0.99% of lead, 1.66% of zinc, and 8.13% of manganese, representing 23’859,509 oz of silver, 26,133 MT of lead, and 43,861 MT of zinc. In Uchucchacua, 80,476 meters of diamond drilling were executed, of which 50,536 meters correspond to explorations, and 29,940 meters correspond to infill drilling, mainly focalized in the Socorro, Carmen and Huantajalla sectors. Drilling allowed to define the mineral resources. Also, 6348 meters of tunnels were executed for exploration. Additionally, 6348 meters of mine workings were executed, distributed as follows: 931 meters of preparation and 5417 meters of exploration. And all the progress was made with Buenaventura’s personnel and resources. In addition, we carried out the engineering of the buttress at Level 4416 for the R3 tailings dam, which will be updated with the drillings to be carried out in 2023, the trade- off development of the site and filtered tailings technology, and the completion of the feasibility of expansion. Pursuant to Resolution No. 0452-2021-MINEM-DGM/VINFORME No. 0174-2021/MINEM-DGM-DTM-PCM, dated December 26 of 2021, Uchucchacua is still under partial and temporary suspension of activities. Therefore, we started the collective severance of 212 company employees. Contractor companies terminated 1852 employees. OPERATIONS WE DO MORE THAN MINING 37 3737 WE CARRIED OUT THE ENGINEERING OF THE BUTTRESS AT LEVEL 4416 FOR THE R3 TAILINGS DAM, WHICH WILL BE UPDATED WITH THE DRILLINGS TO BE CARRIED OUT IN 2023 BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGIN 2022, THERE WERE FEWER ACCIDENTS, THAN COMPARED TO 2021, THERE WAS A 50% REDUCTION SAFETY: In 2022, Uchucchacua experienced 0 fatal accidents, 07 disabling accidents, 11 minor accidents, and 0 high- potential events. Compared to 2021, this represents a 50% reduction. ENVIRONMENT: During 2022, in Uchucchacua, no high-potential environmental event was reported, mainly because of the significant reduction of activities caused by the suspension of activities. SOCIAL AFFAIRS: The most relevant social aspect in 2022 was the negotiation with the community of San Juan Baños de Rabí for the purchase 622 ha of land. This negotiation will allow to promote the exploration in Yumpag for a significant increase of mineral resources. The purchase was completed on December 22 of 2022 and, in agreement with the community, three aspects were established in the consideration for this land: 1) Payment for the number of hectares; 2) signing of a social agreement; and 3) agreement with owners to leave the purchased land. 38 EXPLORATIONS For the Yumpag-Carama exploration, the third Modification of the semi-detailed Environmental Impact Assessment (3d MEIA-sd) is being arranged and still under evaluation by the DGAM-MEM. With regards to the detailed Environmental Impact Assessment (EIA-d), on March 30 of 2022, through Report No. 00234-2022-SENACE- PE/DEAR, SENACE issued their objections to the EIA-d. On June 18 of 2022, objections were responded to and from November 21 to 23 of 2022, SENACE visited the Project to verify the dispersed population. The authority’s social recommendations are being implemented. Approval is expected for the second quarter of 2023. The Environmental Impact Declaration documentation, involving the diversion of L.T. 138 KV from Paragsha to Yumpag, is under preparation, with a 97% progress. Approval is expected for the second quarter of 2023. PERMITS: In Uchucchacua, through Directorial Resolution No. 0032-2021-SENACE-PE/DEAR, dated February 22 of 2022, the third Supporting Technical Report of the Modification of the Detailed Environmental Impact Assessment - 2014, on the rescheduling of activities, which is being prosecuted by means of a precautionary measure filed on May 28, 2022, is declared INADMISSIBLE. Pursuant to Report No. 01086-2022-MINAM/VMGA/ DGPIGA/DGEIA, dated December 15 of 2022, in 2023, we will submit the 4th STR, the purpose of which is to reschedule the activities. OPERATIONS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING39 District Ccochaccasa Province Angaraes, Huancavelica Altitude 4200 m.a.s.l. Ownership 100% BVN Operation Underground Extracts Silver Discovered By Buenaventura Start Date 1953 302,791 DMT with 19.96 oz/t of silver, 0.008 oz/t of gold, 1.66 % of lead, and 0.52% of copper, representing 6’044,967 oz of silver, 2,336 oz of gold, 5026 MT of lead, and 1,575 MT of copper. Of the total of these reserves, 82% belong to Acchilla mine, and the remaining 18% belongs to Estela mine. During 2022, in the Acchilla mine, a total of 8448 m of underground mining workings in exploration and 23,178 m in diamond drilling were executed. Additionally, the mine area carried out 8150 meters of mining workings, of which 1276 meters correspond to development workings and 6874 meters to mine preparation workings. With the closure of the R8 tailings dam, 243,937 m3 of tailings were transported to Tj Herminia. 20,000 m3 are still to Operations: During 2022, we processed 132,298 DMT of ore from the Acchilla mine, with a head grade of 20.34 oz/t of silver, 0.12 g/t of gold, 0.44% of lead, and 0.18% of copper. 2’640,689 oz of silver, 197 oz of gold, 530 MT of lead, and 233 MT of copper were recovered. The cost applied to average annual sales in 2022 was US$ 14.88/Oz of Ag. As of December 31, 2022, the ore reserves between mines Acchilla and Estela totaled JULCANI OPERATIONS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING 40 be removed in 2023. LARA CONSULTING is developing the engineering for the final closure of R7. In R6, the clearing of tailings was completed, and materials are being stockpiled for the remediation of 2 ha of soil, which should begin in May and be completed by November 2023. At the closure of the Torre de Babel waste disposal site, 122,920 m3 of waste material were transported to the Herminia pit, leaving 80,000 m3 to be removed as from May 2023. PERMITS: INVESTMENTS: During 2022, we continued with the preparation of the MEIAd in order to expand the R9 tailings dam, as well as to expand underground workings and optimize the water treatment systems. The assessment of the 8th Modification of the Mine Closure Plan by the DGAAM- MINEM continued. The Julcani Acid Water Treatment Plant will replace the Acchilla plant in the future in order to comply with the new ECAs. THE 544-5 VENTILATION CHIMNEY WAS CONNECTED, IMPROVING THE VENTILATION COVERAGE FROM 97% TO 112% Rehabilitation of level 610 of Estela mine to advance 365 m of the Cx 703 NE exploration and 750 m of the Cx 066 integration crosscut, 400 m from Acchilla and 350 m from Estela, missing 560 m for the connection between Estela and Achilla mines for 2Q2023, in order to optimize the use of the Estela shaft and integrate both mines. Completion of the lowering of shaft 487, the classification chamber, the stacks for level 710 pockets; the metalworking and civil facilities is pending to start working in 1Q2023. Also, ventilation stack 544-5, the main shaft of the west zone of the Acchilla mine, was connected from Level 710 to improve the ventilation coverage of this level from 97% to 112%. In the R9 tailings dam, the yard was expanded from 100 m to 200 m and the volume of water inside the basin was reduced from 120,000 m3 to 60,000 m3 so as to ensure its physical stability. For the PTAA ACCHILLA, 105 m3 were installed with 3 reactors, increasing the residence time from 17 min. to 55 min. (100 l/s) in the dry season and from 5 min. to 22 min. (250 l/s) in the wet season, lowering the lime consumption from 0.6 kg/ m3 of water to 0.5 kg/m3 of water, and ensuring a pH of 7.5. OPERATIONS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING41 EXPLORATIONS: 1020 hectares were mapped in the Tentadora, Estela Norte and Japonesa area, and 850 hectares were mapped in the Catalina, Maboy and Pallagos area. SAFETY: SOCIAL AFFAIRS: Regarding Works for Taxes, in agreement with GORE Huancavelica and CMBSAA, the project “Improvement and expansion of the drinking water and sanitation service in the Ccochaccasa locality” was developed. CMBSAA disbursed S/ 1,820,408 and the work was delivered in December of 2022. There were no high-potential events in 2022. The most relevant incidents are related to the handling of materials, for which improvement actions will be implemented among employees to raise awareness and to prevent the exposure of hands. ENVIRONMENT: One high-potential environmental event was reported, which was related to sediment entrainment and caused by human failure and lack of operational controls. The corresponding environmental investigation was conducted and the corrective actions for this event were completed. OPERATIONS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGDistrict Tinyahuarco Province Pasco *(El Brocal) **(Buenaventura) Altitude 4,250 m.a.s.l. Ownership 61.43% BVN Operation Underground and Open Pit Extracts Silver, lead, zinc and copper Discovered By Colquijirca* and Tajo Norte** Start Date 1956 42 OPERATION: During 2022, 1,893,585 DMT of lead and zinc from Tajo Norte were treated (1,653,457 DMT head ore and 240,128 DMT tailings), recovering 1,843,264 ounces of silver, 6791 MT of lead, and 23,359 MT of zinc. Also, 172,005 DMT of copper from Tajo Norte were treated, recovering 199,632 ounces of silver, 189 ounces of gold, and 1187 tons of copper. Likewise, 3,030,696 DMT of copper from Marcapunta Norte were treated, recovering 1,513,932 ounces of silver, 23,170 ounces of gold, and 46,165 MT of copper. The operation achieved a total treatment volume of 5’096,286 DMT, representing an average daily treatment of 14.478 DMT. The accumulated production of fines during 2022 was 3’556,829 ounces of silver, 23,359 ounces of gold, 6791 MT of lead, 23,359 MT of zinc, and 47,352 MT of copper, contained in the three produced concentrates. The cost applied to average annual sales in 2022 was US$ 6614/MT of Cu and US$ 2734 /MT of Zn. As of December 31, 2022, the proven- probable mineral reserves at Tajo Norte - Smelter, (Cu-Ag) are 25’522,423 DMT, with 0.73 oz/t of silver and 1.73% of Cu, representing18’542,426 ounces of silver and 442,464 MT of copper. As of December 31, 2022, the proven-probable mineral reserves at Tajo Norte, (Zn-Pb-Ag area) are 6’118,974 DMT, with 2.51% of Zn, 1.17% of Pb, and 2.81 BROCAL OPERATIONS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING4343 In 2022, there were two 15-day partial shutdowns in some sectors of the operation because the roads to access the unit were blocked by neighboring communities due to commercial claims related to their respective communal businesses. As for the operations at Tajo Norte, the 2022 open-pit mining plan suffered various modifications along the year. The main one was on March 19, when there was a collapse in the southeast wall (Phases 12 and 13) that caused the death of three contractor- company employees. The investigation by the supervising body (OSINERGMIN) started after the event and it was determined, through Safety Measure Resolution (OSINERGMIN N° 1-2022-OS-GSM/DSGM), to suspend the activities in the area comprising the areas affected by the collapse. In order to reverse this measure, SMEB had to work on a geotechnical study and a plan to stabilize the affected areas. In November, after evaluating the geotechnical study and the work plan, OSINERGMIN ended the suspension. Tajo Norte is currently undergoing a transition to a “mixed” ore that contains both polymetallic ore and copper ore, intertwined, which makes it very complex to recover them in the shape of commercial concentrates. Since 2010, the exploitation of the Marcapunta Norte underground deposit (arsenical copper mantles) is carried out with the sub level stoping method, leaving pillars in place to ensure the stability of the roof of the mined pits. This method allows mass mechanized production at low costs. It is worth pointing out that we maintained 6 diamond drilling rigs in the central, south west 2 and south east sectors with favorable results; these have drilled 27,338.75 meters for infill and ore control, 8,718.75 for exploration and geometallurgy, and 884.7 m for services. There was a mining contribution in pillars of 414,616 MT with an average Cu grade of 2.15%. This is a partial recovery, since it is necessary to fill the extracted areas in order to complete the removal of the pillars. As part of the ventilation infrastructure, 05 RB stacks (512 meters) of a total of 07 (949 meters), located in the southeast area (05 fresh air intakes and 02 stale air outlet), were executed. Likewise, the duct towards RB09 (stale air outlet) was completed and the duct towards RB14 (stale air outlet) is being completed, the The excluding measured- indicated resources at Tajo Norte - Smelter 1.73% of Cu 3.36% of Zn 0.92% of Pb 0.58 oz/t of silver oz/ of silver, representing 153,669 DMT of zinc, 71,392 MT of lead, and 17’198,894 ounces of silver. As of December 31, 2022, the proven-probable mineral reserves at Marcapunta Norte, are 29’573,935 DMT, with 0.025 oz/t of gold, 1.28% of copper, 0.71 oz/t of silver, representing 741,501 oz of gold, 378,530 MT of copper, and 21’005,011 ounces of silver. The excluding measured-indicated resources at Tajo Norte - Smelter, (Cu-Ag) are 1’108,876 DMT, with 0.96 oz/t of silver and 1.73% of Cu, representing 1’064,521 ounces of silver and 19,191 MT of copper. The excluding measured- indicated resources at Tajo Norte, (Zn-Pb-Ag) are 3’915,260 DMT, with 3.36% of Zn, 0.92% of Pb, and 0.58 oz/t of silver, representing 131,610 MT of zinc, 35,998 MT of lead, and 2,270,851 ounces of silver. The excluding measured and indicated resources at Marcapunta Norte are 30’118,507 DMT with 0.028 oz/t gold, 0.81 oz/t silver, and 1.61% of copper, representing 853,101 ounces of gold, 24,395,991 ounces of silver, and 485,375 MT of copper. OPERATIONS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING44 RB15 project (installation of a 300,000 CFM fan). After completing the works in 2023, an air coverage of 125% will be achieved, and the southwest area will achieve a coverage of 126%; finally, the operation will have a coverage of 125%. During 2022, 15% of the production pits forwent intermediate galleries due to improvements in the mining design. This allowed for a reduction in the cost of preparation and an increase in the preparation ratio, from 180 t/m to 210 t/m. For 2023, it is planned to increase up to 60% the production pits under the pass- through-pit and blind-pit modalities, which will increase the preparation ratio to 326 t/m. It is worth mentioning that, in the third quarter of 2022, the first section of the Twin Tunnel was connected to the RP475W, thus separating the transit paths for the entry and exit of dump trucks in the southern area. This allowed to increase extraction in the fourth quarter. An average extraction of 4490 MT/day was achieved through the southern ramp, while the average extraction through the northern ramp is 4500 MT/day. This minimized ore transportation from the Marcapunta Norte yard to the Huaraucaca plant. Capacity of the pumping system was increased from 95 l/s to 220 l/s, laying a 14’’ surface pipeline for a total length of 2.2 km and replacing 150 Hp pumps with 300 Hp pumps. Secondary pumping circuits were removed and replaced with main circuits, reducing the number of pumps and sumps, generating cost savings and increasing the water evacuation flow. In the concentration plant, activities were carried out to improve the reliability and availability of equipment, one of the most important being the repair and replacement of the washing drum. Finally, due to the increase in prices of the main supplies, such as oil, reagents, crushing steel and explosives, which generated an increase of approximately 10%, a renegotiation was held with the main contractors, where unit prices increased by: JRC +10%, San Martin +7%, Smelter +23%, and Huaraucaca +15%. PERMITS: The Integrated Plan for Adaptation to the Maximum Permissible Limits (MPLs) and Environmental Quality Standards (EQS) file update was approved. The most relevant points of this approval are: the implementation of the IWWTP up to 1000 l/s and the change of the discharge point of the treated effluent to the San Juan River. Regarding the Modification of the Environmental Impact Assessment for the Plant Expansion to 25,000 TMD (MEIA 25K), the process is taking more time due to the approval of the “New Provisions for the Single Procedure of the Environmental Certification Process” through S.D. 004-2022-MINAM (PUPCA regulation) that came into force on July 29, 2022, forcing the modification of the mechanisms of citizen participation during the evaluation IN THE THIRD QUARTER OF 2022, THE FIRST SECTION OF THE TWIN TUNNEL WAS CONNECTED TO THE RP475W OPERATIONS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGWE DO MORE THAN MINING 45 45 stage. Consequently, it was necessary to reschedule the implementation of the MEIA 25K for 1Q2023. INVESTMENTS: SAFETY: The “Archaeological Monitoring Plan at the Colquijirca Mine Unit” continued in 2022, having been renewed and authorized by the Pasco Culture Office, through R.D. N° 000047-2021/DDCPAS/MC on July 22 of 2021, for a period of 24 months, starting on July 23 of 2021. Compensation measures for the “Archaeological Rescue Project at Huachuacaja Sites 1, 2, 3 and 4 - Colquijirca Mine Project” were complied with, delivering 20 archaeological specimens to the Pasco Culture Office. An awareness plan was developed for the Communities involved in the “Archaeological Rescue Project with Excavations in the Marcapunta Archaeological Site”. On August 19 of 2022, the archaeological rescue started in the area of Villa de Pasco, reaching a 7% global progress, over the total area of 881,206.61 m2 (88.12 ha). The purchase of land from the community of Santa Rosa of Colquijirca for the expansion of the tailings dam is under negotiation. THE ARCHAEOLOGICAL RESCUE OF VILLA DE PASCO BEGAN, REACHING A GLOBAL LEVEL OF 7% PROGRESS Preventive controls were reviewed throughout the year in order to minimize the occurrence of accidents and incidents, achieving a frequency rate of 2.28 by the end of the year. For this purpose, the different operating standards were audited and the closure of corrective actions was followed-up. On the other hand, we strengthened the management of the SIB – Buenaventura Integrated System at Sociedad Minera El Brocal, in order to maintain good safety and occupational health practices in all operating and administrative areas. We continued measuring the critical risk management action plans to ensure the implementation of the proposed activities within the defined deadlines, and we updated the COVID-19_V_08 Surveillance, Prevention and Control Plans, as well as followed up on the controls established to prevent transmissions in the mining unit. OPERATIONS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGENVIRONMENT: Two high-potential environmental events were reported, both related to uncontrolled discharges of contact water. The corresponding environmental investigations were conducted and the corrective actions for this event were completed. Huachucaja Tailing Pond: Progress in the expansion of the main dam: a. Construction of the Expansion of the Huachuacaja Tailings Dam, Stage 4, Phase 1 (4219) -Construction: 100% Operating permit in process. Construction of the Expansion of the Huachuacaja Tailings Dam, Stage 4, Phase 2 (4221) -PROGRESS: LB1 Actual 52% // Plan 60% b. Expansion of R4 and R5 dams. a. b. Waste preparation supply: 80% Service Management: 80% progress (scope divided into 02 contractors) Construction: 10% progress c. IWWTP Upgrading: a. b. c. Asset procurement (Start Date: 07/04; End Date: 15/01/23. Service Management. Construction (Start Date: 02/06/23; End Date: 04/16/2023) OPERATIONS 46 SOCIAL AFFAIRS: EXPLORATIONS: The most relevant in 2022 was the land negotiation with C.C. Santa Rosa de Colquijirca for the expansion of the tailings dam and other components. On the other hand, we have managed to maintain good relations with the communities of Huaraucaca, Smelter and Vicco, with whom we have been able to advance the PRA Marcapunta permits, route the R4 expansion with Smelter, and, in general, maintain a favorable social climate to facilitate mining smooth operations without during 2022. Finally, we make progress with the Citizen Participation Plan (before) of the MEIA25K. During 2022, 53,165.10 m of diamond drilling were executed, both on the surface and down the mine. 50% of this amount (26,574 m) was in Marcapunta Norte, Marcapunta SW and Marcapunta SE (underground) for the purpose of recategorizing and confirming measured, indicated and inferred resources to Cu-Ag-Au, with positive results thanks to the increase of Cu-Au values. 16% of this amount (8719 m) corresponds to exploration drilling and metallurgical research drilling at Marcapunta Sur (underground). 21% of this amount (11,331 m) was executed in the Phase 15 and Phase 13 areas for the purpose of recategorizing measured, indicated and inferred resources to Zn, Pb, Ag and Cu mineral reserves with positive results thanks to the increase. Also, in the case of surface explorations, 12% of this value (6540.90 m), corresponds to drillings in the Tatiana, Botadero Sur and Phase 15-22 areas. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGPROJECTS SAN GABRIEL The San Gabriel Project is an epithermal intermediate sulphidation deposit with gold contents, and lower copper and silver values, located in the province of General Sánchez Cerro, in the Moquegua region. 47 The Prior Consultation process finished during 2022 and the Benefit Concession, the Mining Plan, and the 3rd STR of the project were approved. Also, we finished the construction of the advance camp and started earthmoving works. In March of 2023, the authorities were informed of the start of the works corresponding to the construction of components, ensuring the validity of the environmental certification. By the end of the year, we achieved a development of 60% in engineering and 76% in procurement and contract management, after having awarded the earthmoving, San Gabriel contracts, among others, and having started the bids for the mine development and the transmission line of the project. Reserves: 14.9 MT with 4.04 g/t Au and 6.43 g/t Ag, representing 1.94MOz Au. Excluding resources: 24.86 MT with 2.10 g/t Au and 8.46 g/t Ag. BY THE END OF THE YEAR, WE ACHIEVED A DEVELOPMENT OF 60% IN ENGINEERING AND 76% IN PROCUREMENT AND CONTRACT MANAGEMENT The project engineering should be completed, the main access roads, platforms, waste dumps are to be built, and the construction of the San Gabriel Camp and the Mine Development is to be started in 2023. Also, approval of the Transmission Line EIAsd and the 4th STR of the project must be obtained in order to continue with the project schedule as planned. PROJECTS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGYUMPAG The Yumpag project started in 2009 and construction of ramp 4490 was started in August of 2017 until 2019, resuming works in January of 2021. During 2022, an infill drilling campaign was carried out in the Camila ore deposit, with 6100 meters of diamond drilling. Additionally, the range of Camila to the SW was explored, executing 6551 m of diamond drilling that allowed to better define the mineral resources. An exploration campaign was carried out in the Tomasa area as well, executing 11,659 meters of diamond drilling, which allowed to outline a potential resource of 29MozAg. Likewise, we executed 5238 meters of horizontal advances for mine development, and 544 meters of vertical advances (stacks) for mine ventilation. For 2023, it is planned to execute 9997 meters of explorations, development and preparation. PROJECTS During 2022, reconsideration for the approval of Yumpag’s 3rd MEIAsd was achieved, and it is expected to be approved by 1Q2023. Yumpag’s EIAd is being evaluated by the corresponding authority and it is expected to be approved by 1Q2023. Regarding environmental management, there were 05 high-potential environmental events mainly related to exceedances of water quality parameters in the authorized discharge of the water treatment plant. Environmental investigations were carried AN INFILL DRILLING CAMPAIGN WAS CARRIED OUT IN THE CAMILA CORPS, PERFORMING 6,100 METERS OF DIAMOND DRILLING out and closed with the corrective actions defined for this event, including the construction of additional ponds, an increase in human resources specifically for the task, and improvements in sludge management. Also, during 2022, there were 0 fatal accidents, 6 disabling accidents, 9 minor accidents, and 2 high- potential events. We are working to strengthen controls in the operation intended to reduce and prevent such events. Investments were made in the construction of the platforms for storages, camps, gas stations, offices, DWWTP, DWTP and multipurpose platform. Also, construction was started for 02 modules with a capacity of 96 rooms, a dining room, a kitchen and a dressing room. Earthworks and civil works were performed for the installation of the fan located in CH-343. Regarding environmental and operating permits, detail engineering was developed for the continuity of activities of the 3rd MEIAsd and for the start of activities of the EIAd, and feasibility engineering for the STR of the 3rd MEIAsd and the STR of the EIAd. WE DO MORE THAN MINING 48 48 RÍO SECO The Rio Seco Industrial Plant project consists of a hydrometallurgical process to leach Cu-As concentrates from El Brocal unit, which allows for the extraction of copper cathodes, a high-grade Au/Ag and As residue in the stable form of scorodite crystals. In 2022, as part of the Feasibility Study, the EIA was approved and the Closure Plan was completed. Likewise, evaluations were started considering the leach residue roasting process in order to improve its Au and Ag values, thus expanding the range of concentrates where the novel Buenaventura process applies. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING49 LA EVALUACIÓN ECONÓMICA PERMITIRÁ DEFINIR LOS DISEÑOS DE MINADO EN PIT, SUBTERRÁNEA E INICIAR LA ETAPA DE PREFACTIBILIDAD PARA EL 2024 TRAPICHE The Trapiche Project is an oligocene porphyry copper- molybdenum deposit located on the southwest bank of the Andahuaylas-Yauri belt, Antabamba province, Apurímac region. Despite the social situation in our region, we were able to successfully carry out the II workshop in Mollebamba and we started the integrated Citizen Participation Plan (CPP) pursuant to the current standards for the III workshop and public hearing of the EIAd. Regarding access roads, the project was approved for registration in the investment office. Reserves: 283.2 MT with 0.51% Cu, representing 1.4 MT leachable Cu. Excluding resources: 653.8 MT with 0.32% Cu, representing 2.1 MT (float) Cu. COIMOLACHE SULPHIDES The Coimolache Sulphides Project consists of a flotation plant for the treatment of copper sulphides lying under the Coimolache gold mineral that is currently being exploited. In 2023, we will continue with the drilling program to complete the engineering of the project components and continue to strengthen our relationship with the surrounding communities through the signing of the development agreement with two pending communities. We will include the review of easement and access road opportunities and will submit the EIA by the second quarter of the year, followed by the public hearing the following quarter. During 2022, the unfinished 2021 exploration campaign with diamond drillings was resumed, executing 6793 m and 14,895 m, respectively. This campaign will be completed by February of 2023 and the audited resources will be presented by the end of the current year. Therefore, the inventory of those resources audited by SRK_2019 is maintained: Inferred Resources: 933 mt with 0.32% Cu, 0.18 g/t Au, 7.89 g/t Ag, representing 3 MT Cu and 5.4 M oz Au. In 2023, we are to complete the infill drilling campaign within the economic PIT Phase 1 (lowering of the THY2 pit), a high-grade copper, gold, silver area. Its economic assessment will allow us to define the mining designs in the Pit, underground, and start the pre-feasibility stage for 2024, related to social strategies and land acquisition that will allow us to develop the basic engineering. The first variability campaign (36 columns) was completed, the extraction of copper from the enriched ores responds positively to the ferric- bacterial leaching process, and optimization tests (34 columns) are in progress before starting the second variability campaign. Finally, 6219 m were drilled, out of the 14,000 m programmed. PROJECTS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGOTHER BUSINESSES Consorcio Energético de Huancavelica S.A. - CONENHUA (100% BVN) This is a subsidiary of Buenaventura that provides electric power generation and transmission services, projected feasibility studies of power transmission systems, and 50 provides operation and maintenance of transmission systems in operation. Its first concession to bring power to Huancavelica was in 1983. Then, it expanded its operations to Cajamarca and Arequipa. Power Generation Business Line It holds the concessions of the Huapa and Ingenio hydroelectric power plants located in the Huancavelica region, the combined generation capacity of which is 11.111 GWh. This power generation directly contributes to the consumption of the Julcani Mining Unit. It also owns 100% of the shares of Empresa de Generación Huanza S.A. (EMGHUANZA), owner of the Huanza Hydroelectric Power Plant, which generated 362.143 GWh in 2022. This company holds energy and power supply contracts with Buenaventura and El Brocal, which have been developed pursuant to their scopes and the parties’ responsibilities. During 2022, EMGHUANZA suffered the unavailability of G1, which is under repair. Feasibility Study Management Business Line – Electrical Projects During 2022, Conenhua carried out the following electrical projects: 1.Feasibility study of the “220 kV Transmission Line from Chilota Substation to San Gabriel Substation”, which has allowed to obtain the approval of the Citizen Participation Plan, the management of the Third Workshop in three Peasant Communities of the area of direct influence, and to obtain –at the assembly minutes level– the agreement needed to pass through the lands of the peasant community of Chucapaca. 2.Feasibility study of the “220 kV Transmission Line from the Cotaruse Substation to the Trapiche Substation”, the purpose of which is to assess four alternative layouts, considering technical, OTHER BUSINESSES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING51 Procesadora Industrial Río Seco (100% BVN) Peruvian company dedicated to the production of Manganese Sulfate from the lead-silver-manganese concentrates found in our Uchucchacua mining unit. This product is used as a micronutrient for plants, in addition to being a raw material for the manufacture of steels, batteries and pigments, favoring the domestic market and agriculture. During 2022, the industrial processor did not operate due to the shutdown of the Uchucchacua mining unit. In such a scenario, 51 mutual agreements, 11 resignations, and 11 executive transfers were executed. The number of employees at Río Seco went down from 84 to 11 during this process. However, a Metallurgical Laboratory has been implemented to meet the needs for research and metallurgical tests of the Buenaventura units. The activities of this laboratory started in December of 2022 with an investment US$ 24,000. Thus, there is a new process for the obtention of battery-grade manganese sulfate, a product with high purity standards. For this purpose, they have built and implemented a pilot plant with a capacity of 100 kg/day, which has been commissioned and will start operations in the second half of January 2023. The investment for this pilot plant was US$ 275,000. In addition, the feasibility study has been completed for their copper plant, which houses their mine closure plan and has obtained the corresponding approval from SENACE for the Environmental Impact Assessment (EIA). This supports a management with the highest environmental safety standards, continuously coordinating with the communities of Huaral and Sayán, the Lachay National Reserve, the Municipality of Huaral and the Municipality of Chancay. Operations are expected to resume in the fourth quarter of 2023. The management process for the new equipment will start in April, and the maintenance work prior to the start of operations will start in June. The restart will be progressive until a treatment capacity of 2800 MT/ month of concentrate is reached. A METALLURGICAL LABORATORY STARTED ITS ACTIVITIES IN DECEMBER 2022 WITH AN INVESTMENT OF $24,000 social, archeology and geology, environment, and economic aspects. 3.Feasibility study and EPCM supervision of the “Diversion LT 138 kV Paragsha II – Uchucchacua (L-1123) to Yumpag Substation” project, which activated the procurement of equipment, the socio-environmental management, and the conduction of pre-operational studies during 2022. 4.Management of the bidding process of the BOOT [Build, Own, Operate & Transfer] contract for the “220 kV transmission line from the Chilota Substation to the San Gabriel Substation”, which will provide support to Buenaventura in the procurement of the concessionaire that will be in charge of the design, financing, construction, operation, maintenance and transfer of the transmission system. Operation and Maintenance Business Line Finally, Conenhua continues to operate and to maintain the transmission systems that serve the Mining Units of La Zanja, Coimolache, Uchucchacua, Procesadora Industrial Río Seco, El Brocal, Julcani, and Tambomayo. OTHER BUSINESSES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGWE DO MORE THAN MINING 52 52 SUSTAINABILITY STATEMENT OF LIABILITY ABOUT THE ANNUAL REPORT MESSAGE FROM OUR BOARD OF DIRECTORS WE ARE BUENAVENTURA CORPORATE GOVERNANCE OPERATIONS, PROJECTS AND NEW BUSINESSES SUSTAINABILITY PERFORMANCE HUMAN CAPITAL SOCIAL MANAGEMENT ENVIRONMENTAL MANAGEMENT FINANCIAL RESULTS ANNEXES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING 5353 PRIORITIZE MANAGE POSITION Comprehensive Communication INTEGRATE L ong-term v i n s i o Risks Good practices Efficiency MEASURE KPI Goals Software We implement specific policies and actions on topics such as renewable energy, diversity and inclusion, transparency and corporate responsibility, among other, which allows us to: Be more efficient Give visibility to our best sustainability practices Consolidate our reputation in the market Work under the shared social responsibility approach. Based on this, we seek to: Prioritize ESG issues that add value to the company and to our stakeholders. Manage said issues strategically to implement good practices, generate efficiencies, and minimize our risks. Measure our results periodically and implement management tools that allow us to continuously improve and achieve a high performance. And position the ESG management internally and externally so as to contribute to the strengthening of the sustainability culture. SUSTAINABILITY STRATEGY Our sustainability strategy is integrated into our business strategy and adds value to our company, to the market and to our stakeholders. It is based on the management of ESG (Environmental, Social & Corporate Governance) issues as an integral part of our business culture and identity. It is not a trend, but part of our essence and our purpose. This ESG management starts from our vision and contributes to our mission, which shows that we seek to generate the highest valuation for the company in the eyes of all of its stakeholders. SUSTAINABILITY BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGOUR MATERIALITY (3 corporate governance issues, 4 social issues and 3 environmental issues). SHARED SOCIAL RESPONSIBILITY In order to prioritize our ESG issues, we performed a materiality assessment, which allows us to identify the environmental, social and corporate governance issues that are most critical to manage in the organization. Buenaventura’s last materiality assessment was performed in 2021, resulting in 10 highly-material issues, These issues were the result of the analysis of global trends and frameworks, internal prioritization and external consultation with our stakeholders. For each issue we had annual and medium-term goals, objectives, strategies and action plans that allow us to manage them in a timely manner. S R E D L O H E K A T S R O F E C N A C I F I N G I S Economic Environmental Social Respect for Human rights Fulfillment of social commitments Responsible use of water Health and safety Biodiversity protection Climate change and energy use Tailings management Standars in the supply chain Air quality Responsible waste management Corporate governance Business ethics and compliance Contribution to community development Value generation Risk and crisis management Access to land Mine closure and rehabilitation Talent management Research, innovation and technology Relevant Material Highly material SIGNIFICANCE FOR COMPANY At Buenaventura, we believe in shared social responsibility as an effective way to address the social and environmental challenges at local and global levels. This is why our ESG strategy is based on the collaboration with State and society to promote the sustainable and inclusive development of the neighboring communities and the country as a whole. The Shared Social Responsibility approach is reflected in our specific policies and actions in topics such as education, employment, health, and environment. We work hand in hand with local communities and the government to identify, address their needs, and to improve their living conditions. We not only “apply” our ESG approach “internally”, but we also involve our suppliers and employees in this shared effort, working hand in hand with our clients, suppliers and employees to promote an ESG culture in the industry as a whole and contribute to the achievement of the UN Sustainable Development Objectives. SUSTAINABILITY WE DO MORE THAN MINING 54 54 We are involved in the development of people and the economic growth of the country based on the generation of value. Therefore, we are committed to advancing in the compliance with the United Nations Sustainable Development 17 Objectives (SDOs) and their goals for 2030. Our actions are aligned to contributing to the fulfillment of these objectives, as appropriate. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING 55 HUMAN RIGHTS We are committed to respect and promote human rights in our scope of action in order to identify, prevent, mitigate and respond to the negative consequences that could arise. We align our management to our Human Rights Policy and our Code of Ethics and Good Conduct, and identify potential risks to human rights derived from our operation. During 2022, we started our Human Rights Due Diligence Process in order to identify gaps and risks related to health and safety, working conditions, impact on communities and the environment. We will continue to improve our management based on these results. Our process considered the following steps: 1 2 3 4 Identification of Due Diligence gaps Understand the dynamics of the company and the context of its main operations Risk Assessment Participation Feedback and final report Prioritize actions and resources from a social risk and human rights map with field evidence Systematization of progress and action plans for continuous improvement The scope of our due diligence involved three of our mining units: El Brocal, Coimolache, and Tambomayo. Our due diligence began with delivery of a “Basic Course on Companies and Human Rights.” This course was intended for the personnel responsible for the most critical areas where potential risks on this matter are identified. It was delivered in April and 22 company leaders took part in it. We continued with the identification of potential risks and gaps in terms of human rights with the participation of representatives from different areas of the company. The topics identified were: harassment, environment, use of force, relocation of the population and access to land, corruption, health and safety. The objective was to identify how we are performing in terms of compliance with human rights and how we could improve. For that purpose, we conducted a qualitative study through semi-structured interviews and focus groups as tools to collect information. The scope of our due diligence involved three of our mining units: El Brocal, Coimolache, and Tambomayo. It also involved stakeholders such as: strategic suppliers, community, civil society, unions and local state. SUSTAINABILITY BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGWE DO MORE THAN MINING 56 56 Based on the analysis of our results, we started the process of establishing action plans to mitigate risks that could infringe on our stakeholders’ rights. In line with this process, we ratify our respect to labor rights, to freedom of association and collective bargaining, to equal opportunities for men and women for both our employees and our contractors’. We also ensure respect for the sustainability rights of vulnerable groups such as indigenous peoples, women and children, firmly reject any type of discrimination, labor harassment, forced labor and exploitation. We also ensure respect for the sustainability rights of vulnerable groups such as indigenous peoples, women and children SUSTAINABILITY SECURITY FORCES An essential element as part of our human rights management is our approach to the management of both public and private security forces. In this sense, we have clear guidelines for our interaction, supervision and evaluation of our performance. We interact with private security as a form of internal control in our operations. We interact with public security only when they must fulfill their control responsibilities on behalf of the authority before the law. We supervise our security providers to ensure that they comply with their obligation to provide security in a manner consistent with the rules of conduct described by our company and aligned with respect for the communities and people in our areas of influence. We have grievance mechanisms in place to report complaints regarding security forces through internal channels in the units and our ethics hotline. We conduct audits and evaluations of our security providers on an ongoing basis in order to maintain their alignment with the company’s line of conduct towards the population and the communities in our areas of influence. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGACKNOWLEDGEMENTS We have been included in the S&P/BVL Peru General ESG Index, the first sustainability index of the Peruvian stock market, which brings together 17 companies with the best environmental, social and good corporate governance indicators, under the Dow Jones Sustainability Index methodology. Being part of the ESG Index motivates us to continue promoting a responsible mining industry committed to the sustainable development of the country, generating well-being and opportunities for all Peruvians. Buenaventura is among the top five companies in the mining sector with the best corporate behavior according to the Merco Corporate Reputation Ranking 2021, published in 2022, and we also rank second in the ESG Responsibility Ranking, maintaining our position for the second consecutive year. SUSTAINABILITY 57 In addition, we were positioned in the Merco Talento 2022 ranking as the third best mining company in Peru for attracting and retaining talent, up two positions compared to the previous year. We went up 24 positions in the Top 100, ranking 26 among the best companies with talent in the country. Our Participatory Environmental Monitoring System, which we carried out together with the communities and local authorities to guarantee the water quality of the Orcopampa and Chilcaymarca rivers, in the province of Castilla (Arequipa), area of influence of the Orcopampa Unit, was recognized by the National Society of Mining, Petroleum and Energy (SNMPE) with the Sustainable Development 2022 award in the “Water Management” category. This project has been a benchmark for water governance and empowerment of community leaders since 2010, benefiting more than 2500 families, two schools, the municipalities of Orcopampa and Chilcaymarca, and six local communities. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGSTATEMENT OF LIABILITY ABOUT THE ANNUAL REPORT MESSAGE FROM OUR BOARD OF DIRECTORS WE ARE BUENAVENTURA CORPORATE GOVERNANCE OPERATIONS, PROJECTS AND NEW BUSINESSES SUSTAINABILITY PERFORMANCE HUMAN CAPITAL SOCIAL MANAGEMENT ENVIRONMENTAL MANAGEMENT FINANCIAL RESULTS ANNEXES WE DO MORE THAN MINING 58 58 PERFORMANCE BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING 59 (Environmental Management System), and ISO 45001 (Occupational Health and Safety Management System) standards, which facilitate the establishment of a set of systematic guidelines for environmental, quality and safety performance that allow us to measure the company’s performance against internationally accepted criteria. BUENAVENTURA INTEGRATED MANAGEMENT SYSTEM (SIB) Our Integrated Quality, Environmental, Safety and Occupational Health Management System is a tool that allows us to manage the operational and support processes so as to improve their efficiency, from the assurance of product quality and increase customer satisfaction, controlling activities and operations that could generate environmental impacts and hazards causing risks to the safety and health of the employees. The SIB includes the organizational structure, activity planning, responsibilities, processes, procedures and resources to develop, implement, review, maintain and improve environmental, quality and safety performance. We take as a reference the ISO 9001 (Quality Management System), ISO 14001 RISK MANAGEMENT We identify emerging risks that may have a significant impact on our operations in the medium term, and determine mitigation actions that allow us to have control and a rapid response to any event. PERFORMANCE BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGEXTREME CLIMATE EVENTS FOOD INSECURITY IN OUR AREAS OF DIRECT INFLUENCE 60 Environmental Risk related to extreme meteorological phenomena. In Peru there are landslides, gales, cold snaps, droughts and the so-called El Niño and La Niña phenomena, which have intensified in recent years. Significant High potential to affect the life and health of the company's employees, surrounding communities, flora and fauna, as well as the normal development of the company's operations. Torrential rains, droughts or heat waves can damage infrastructure and facilities, as well as interrupt the supply chain and stop access to water. This last point impacts the communities in our direct area of influence and generates great economic losses for the company, such as: food shortages, operation shutdown due to prioritization of resources to meet social demands, reduction of water availability. Measure the carbon footprint and establish an emissions reduction strategy. Continue to use energy from a clean and renewable source through the supply of energy from the Huanza power station. Start the integration process within the TCFD framework where climate change risk management is aligned with corporate governance, strategy, risk management and metrics and objectives. Category Description Impact on business Mitigation actions: Social The war between Russia and Ukraine, countries that produce fertilizers, aggravates the risk of a shortage of this product, which Peru imports for its agricultural production. This could result in crop losses for farmers, in addition to water stress linked to climate change in certain departments of Peru. The consequences could be: child malnutrition, anemia, intensification of migrations to other cities, poverty, which could affect the communities in our direct areas of influence. Significant There could be new social needs and demands towards the company, and a social climate of conflict in these areas with the risk that operations could be shutdown. There is a possibility that new laws and regulations could be introduced in certain jurisdictions that could limit access to water resources or increase costs for the company's operations, as well as for the surrounding communities that use this resource to irrigate their crops and ensure food for their people. Efficient management and use of water in operations. Promote the implementation of water management infrastructures for water storage, distribution and conservation. Strengthen productive development and commercial articulation programs with emphasis on efficient water management for crop management. Promote the purchase of local products that contribute to improving the productive capacities of farmers in the area of influence of the operations. Incorporate risk management into environmental management plans, including climate change impacts. Category Description Impact on business Mitigation actions: PERFORMANCE BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGCYBERSECURITY Information security is a critical factor in our operations. In this sense, we have an Information and Communications Technologies (ICT) area that works on the identification, detection, protection, response and recovery of security incidents, manage risks and prevent attacks on our information systems. This team is led by the ICT Manager and an Infrastructure and Security department with its own analysts and technological partners that guarantee the availability, confidentiality and integrity of the information and communications infrastructure services provided. INNOVATION Buenaventura has an Innovation Management, which has established a roadmap to automate our operations and consolidate our digital transformation, emphasizing critical activities in the value chain, as well as in the operation of the mining units and plants. Based on this, we promote various cross-cutting projects that arise from the identification of needs and opportunities that are constantly analyzed, under a disruptive approach. As part of the challenges encountered in the annual survey of the Innovation Maturity Index (IMI), we took on the task of communicating and highlighting the progress made in innovation and continuous improvement, as well as generating recognition for the employees who are taking part in the various pilots or projects selected for this year. In addition, we promoted our Innovaventura program, which seeks the participation of all employees in order to provide initiatives that contribute to operations and projects, as well as in the construction of a creative and cutting-edge culture. As part of the Innovation and Continuous Improvement projects we worked on throughout the year, we can highlight the following: We promoted our Innovaventura program, which seeks the participation of all employees in order to provide initiatives that contribute to operations and projects PERFORMANCE 61 INNOVATION La Zanja: Bioremediation Project We completed Phase 1 of the project related to laboratory research to develop an alternative method for the closure of the San Pedro Sur pit and different mining components, allowing us to reduce the generation of acid water drainage and associated costs. Orcopampa: Battery-operated system to autonomously move scoops inside the mine. Improve the productivity of these pieces of equipment, as well as to improve safety by not having to use other equipment to move them. CONTINUOUS IMPROVEMENT El Brocal Project to optimize mine preparation ratios The redesign of the preparation workings, which involved the use of +30m long drills and heavy support BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING62 with cable bolting, allowing the elimination of intermediate and lower workings, and managing to reduce preparation costs. Reduction of Open Pit Haul Routes The reconfiguration of the waste transfer hauls has reduced the distances between the pit and the dump by 0.6 km. The height of the dump was increased from 6 m to 24 m without affecting stability, which further optimized waste disposal. Coimolache Use of acid water instead of iron chloride Replacing iron chloride with acid water, a component obtained naturally from the contact of rainfall with rocks, allowed to reduce costs associated with the use of reagents and water treatment. Based on the circular economy approach, we were able to turn a liability into an asset. SUPPLIER AND CONTRACTOR MANAGEMENT ; therefore, we focus on identifying, selecting, evaluating, developing and monitoring the performance of the companies that are part of our supply chain in compliance with the safety, quality, governance and environmental standards that we require of them. We mainly analyze the costs of our supply chain, linked to the transportation of cargo to the mining units, procured directly by Buenaventura. Julcani Orcopampa Uchucchacua Tambomayo La Zanja Coimolache El Brocal Total * Conversion factor: 1USD=S/3.9 Weight 930 2,177 5,329 2,569 1,792 3,297 11,800 27,894 Cost ($)* 94,961.03 343,230.26 238,770.26 430,673.33 235,405.64 438,060.51 512,081.79 2,293,182.82 IN OUR SUPPLY CHAIN STRATEGY, WE CONSIDER ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) CRITERIA PERFORMANCE BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGBuenaventura INTEGRATED ANNUAL REPORT 2022 PERFORMANCE 63 Assessment: Our suppliers’ performance is evaluated on an annual basis, and the rating obtained by each supplier as a result of their evaluation is framed within the following levels: WE CARRY OUT A HOMOLOGATION PROCESS THAT COMPREHENSIVELY ASSESSES THE ESG CRITERIA AND ALLOWS US TO ENSURE THAT OUR SUPPLIERS COMPLY TIPE A TIPE B TIPE C Score of 90.1% to 100% Score of 75.1% to 90% Score of 50.1% to 75% TIPO D 25.1 to 50% TIPO E A score under 25% is not recommended The logistics area evaluates your continuity as a supplier We define critical suppliers as those that supply us with inputs or services that are highly necessary for the continuity of our operations and the achievement of our objectives. And we segment our material suppliers based on the type of input they supply us with, as follows: critical, strategic, regular and non-regular. After that, we carry out a homologation process that comprehensively assesses the ESG criteria and allows us to ensure that our suppliers comply: Document evaluation: The documents submitted by our suppliers are reviewed in detail to analyze their accuracy and ensure a fair selection of suppliers. Analysis of operating capacities: We identify those suppliers that have the appropriate operating, safety, occupational health, environmental, social responsibility and financial support capabilities to work with our company. Planning: Improvement plans are implemented with those suppliers with high sustainability risk and we monitor them periodically. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGSTATEMENT OF LIABILITY ABOUT THE ANNUAL REPORT MESSAGE FROM OUR BOARD OF DIRECTORS WE ARE BUENAVENTURA CORPORATE GOVERNANCE OPERATIONS, PROJECTS AND NEW BUSINESSES SUSTAINABILITY PERFORMANCE HUMAN CAPITAL SOCIAL MANAGEMENT ENVIRONMENTAL MANAGEMENT FINANCIAL RESULTS ANNEXES WE DO MORE THAN MINING 64 64 HUMAN CAPITAL BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING Company employees Contractor employees 338 396 216 88 692 345 190 526 697 812 294 3394 356 983 Company employees Contractor employees 29 25 85 15 276 88 301 320 62 36 91 535 Tambomayo Orcopampa Coimolache La Zanja El Brocal Uchucchacua Julcani San Gabriel Molle Verde Conenhua Rio Seco Lima Others Total 864 1093 1028 382 4086 701 1173 Total 330 345 147 51 367 623 OUR ACHIEVEMENTS AND THE CHALLENGES WE HAVE DECIDED TO FACE WOULD NOT BE POSSIBLE WITHOUT OUR PEOPLE. FOR THIS REASON, WE ARE COMMITTED TO THEIR DEVELOPMENT, SAFETY AND HARMONY, ACCOMMODATING 11,190 EMPLOYEES FROM BUENAVENTURA, SUBSIDIARIES AND CONTRACTORS FROM DIFFERENT PARTS OF THE COUNTRY, MAINLY FROM THE REGIONS WHERE WE OPERATE. HUMAN CAPITAL 65 It is important to highlight that Buenaventura has 14 unions corresponding to the group plus subsidiary companies and 7 unions of contractor companies, which have 50% of employees duly represented. The composition of the total of our employees by age group is as follows: 0 . 8 % 1 1 8.2 % 71% Under 30 years of age 30 to 50 years old Over 50 years of age BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING66 Rotation rate in the last three years Indicator / Year 2020 2021 2022 Total employee rotation rate Total employee voluntary rotation rate 8 3 12.2 12.8 4.7 5 Diversity and inclusion are important elements for Buenaventura, which is why we make efforts to have practices aimed at equal opportunities between men and women. During 2022, out of the total number of employees in our workforce, 9% were women. We have 11.86% of women in managerial positions. And 7.89% of them are occupied by women in STEM positions, as well as 19.05% of women in top management positions. Our employees’ wage is based on their performance, experience and level of responsibility. We present our indicators of the wage ratio between women and men by job category for 2022. Hiring of employees in the last three years Indicator / Year 2020 2021 2022 Total number of new employees hired Number of open positions filled by internal candidates (internal hires) Average hiring cost ($)* * Conversion factor: 1USD=S/3.9 137 257 222 49 57 94 730.11 584.05 266.95 WE HAVE 11.86% OF WOMEN IN MANAGEMENT POSITIONS, AS WELL AS 19.05% OCCUPY TOP MANAGEMENT POSITIONS Salary per level, expressed in US$* Women Men Ratio (W vs M) Executive Level (Basic Salary) Executive Level (Basic + others) Management Level (Basic) Management Level (Basic + others) Non-management level TOTAL 125,769.23 209,615.38 81,282.05 135,384.62 30,897.44 136,282.05 227,179.49 82,051.28 136,794.87 36,923.08 0.92 0.92 0.99 0.99 0.84 * Conversion factor: 1USD=S/3.9 HUMAN CAPITAL BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGWE DO MORE THAN MINING 67 67 VACCINATION CAMPAIGNS MENTAL HEALTH MANAGEMENT During the first half of the year, we partnered and coordinated with regional governments and MINSA health centers nationwide to carry out vaccination campaigns for our employees. As a result, 100% of our employees were vaccinated with the 3rd dose of COVID-19. WE FOCUS ON 4 STRATEGIES TO PRIORITIZE PREVENTION AND CARE IN CASES OF COVID-19 We continue with the Cuenta Conmigo program, which offers permanent, unlimited, free, and confidential counseling and psychological support to deal with the emotional and psychological impact of the pandemic. The program is aimed at our employees, their families, and the employees of our subsidiaries and contractors. In 2022, this program served more than 1000 people. In addition, we conducted four mental health campaigns, fulfilling an educational and preventive work regarding the aspects that most affected the employees at the beginning of the pandemic. More than 1500 employees participated. MENTAL HEALTH AND SELF-CARE MAY DEPRESSION AND ANXIETY AUGUST WORK-RELATED STRESS SEPTEMBER FAMILY, PARENTING AND COUPLE COMMUNICATION OCTOBER WELFARE AND BENEFITS The health and welfare of our employees, their families and our contractors are essential; therefore, we prioritize prevention and attention in cases that require them. We focused on 4 strategies: Vaccination campaigns Mental health management Nutrition, recreation and culture Information and counseling Welfare conditions In addition, the 24-hour medical hotline service remained active to care for employees’ health in the event of COVID 19. And continuing with the online services to provide counseling and psychological, nutritional, legal and pension support, both for employees and for their families. We offered timely and quality social assistance to people infected with COVID-19 in the third wave, from the beginning of the infection until the medical discharge of each patient, providing permanent support to employees with sequelae. HUMAN CAPITAL BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING68 NUTRITION, RECREATION AND CULTURE We carried events for integration, recreation, sports (championships), culture, and festive activities. In 2022, festive dates were celebrated in all the mining units, complying with the health protocol: Mother’s and Father’s Days, Independence Day, Miner’s Day, Christmas for employees and New Year’s Eve. In addition to that, we had: Flexible benefits (flexible schedules, home office, day off on birthdays, flexible hours to celebrate children’s birthdays, recreational afternoons, summer schedule, among others.) Benefits based on agreements to achieve special corporate rates in health, education, family recreation, physical activity, insurance plans. Our employees were given special lunches in the camp dining rooms, together with virtual and in-person activities for these celebrations. IN 2O22 WE CELEBRATED DIFFERENT FESTIVE DATES IN ALL THE MINING UNITS INFORMATION AND COUNSELING In 2022, we maintained the virtual and in- person programs aimed at our employees and their families, as well as at our contractors: Counseling and psychological support Health support nationwide Personalized social assistance Food and nutrition counseling Retirement and pension counseling As part of the retirement and pension counseling, we established topics such as changes in retirement processes in the mining sector, as well as retirement and pensions for women, having more than 700 participants. WELFARE CONDITIONS In 2022, we continued with service quality audits for personnel in food service, locker rooms, restrooms, recreational areas and laundry room. Based on this, we recognized opportunities for improvement and established action plans to ensure adequate welfare and working conditions aligned with the new reality. We supervised food concessionaires through constant and unexpected inspections, assessing the role of the menu and innovating preferred dishes, as well as listening to and solving complaints from diners, maintaining the continuous improvement plans. Likewise, we continued with the virtual nutrition clinics for our employees in Lima, the units and the projects, and we developed the food and nutrition discussion. HUMAN CAPITAL BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING69 WORK CLIMATE AND COMMITMENT In 2022, the ECO2022 survey on commitment and organizational climate was conducted with the support of the consulting firm MANDU, achieving a participation of 4143 people, including employees from our contractor companies, with an overall response rate of 82%. Level of satisfaction on work environment Work Environment (% of engaged employees) 2019 2020 2021 2022 70 76 -- 77 * During 2021, we measured the types of internal leadership. STRENGTHS Relationship with the team (companionship) 76% Impact (achievements and essence at work) 76% OPPORTUNITIES FOR IMPROVEMENT 67% Leadership Acknowledgement 55% Opportunities for development 57% HUMAN CAPITAL Based on the results of our Organizational Climate and Engagement Survey (ECO2022), we are deploying action plans aimed at addressing improvement opportunities in the teams of all our units and support areas. TRAINING AND DEVELOPMENT In 2022, Buenaventura’s employees grew professionally according to the enhancement of their skills and competencies according to the company’s strategic objectives. Twenty-six executive trainings (master’s degrees, diploma courses, coaching, leadership programs) and 48 technical trainings (courses, workshops) were delivered, investing a total of approximately US$ 170,000. Mandatory trainings were 100% delivered at the production units (Annex 4, Annex 6, Environment), with a total investment of around US$ 600,000. Specialized programs were also developed for employees of multiple operators, with a total of 188 people (79 employees and 109 community inhabitants) being cared for, with a total investment of approximately US$ 240,000. According to the strengthening of competence, 61.5% of openings in key positions were filled by internal employees. We firmly believe in our employees’ growth; therefore, we promote refreshing, improvement and specialization academic activities, in various modalities: synchronous, asynchronous and in-person. Some of the academic activities carried out throughout the year: BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING70 SUBJECT Professional studies LEGAL BASIS TRAINING 02 masters’ degrees 18 courses or workshops TARGET GROUP Selected employees 1. 2. 3. Occupational health and safety management according to Law 29783 and its regulations Hazard identification, risk assessment and control measures – iperc Safety inspections S.D.023-2017-em Law 29783 3 courses Course 1 Company: 306 Mining contractor company: 2518 Course 2 Company: 203 Mining contractor company: 3198 Course 3 Company: 479 Mining contractor company: 2078 Reducing accidents and incidents, as well as controlling and minimizing environmental impacts S.D. 023-2017 em S.D. 040-2014 em 211,491 training hours In 40 courses delivered Company employees: 695 Mining contractor company employees: 3175 Skills-strengthening program Sexual harassmen Hazardous chemical materials (MAPPEL) Code of ethics and good conduct Prevention of money laundering and terrorist financing Bribery and corruption prevention system Basic safety induction HUMAN CAPITAL S.D.023-2017-em Law 29783 S.D.023-2017-em Law 29783 Decree-Law N° 25475 and its amendments Decree-Law N° 25475 and its amendments Decree-Law N° 25475 and its amendments S.D. 023-2017-em Law 29783 Course delivered per consultation 18 employees Virtual/in-person course Virtual course Company employees: 294 Mining contractor company employees: 1711 Company employees: 8 Mining contractor company employees: 2 Virtual course 240 employees Virtual course 245 employees Virtual course 148 employees Virtual course New temporary and permanent employees 77 company employees 5090 contractor employees 41,336 training hours. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING71 SAFETY AND HEALTH Safety is an inherent part of our operations; therefore, managing it is everybody’s responsibility, considering that its results are part of the quality indicators and value generation within the framework of a safe and sustainable production culture at Buenaventura. Main activities carried out: Approaching union boards through awareness-raising workshops called “Consolidating the Alliance to Promote the Participatory Safety strategy”. Development of disruptive awareness- raising activities aimed at employees and contractor companies, focused on self- care, the right to say no and appealing to the family waiting for us at home. All this as part of the “Pacto por la Vida” program. Implementation of the “Critical Risk Management” initiative focused on the increase to 13 risks to reinforce the efficiency and sustainability of engineering-type controls. Prioritization of engineering-type operational controls and application HUMAN CAPITAL of the ICAM methodology for accident investigation. Improvement of operational controls: Sustainability, efficiency. Participation as members to the SNMPE and in the round tables for the contributions to the project to modify the Mining Safety Regulations. During 2022, the Accident Rate was reduced to 2.04, 20% less than in 2021 (2.52); the number of disabling accidents was 84, 20% less compared to 2021. Additionally, the number of lost days and Man Hours Worked (MHW) in 2022 were lower compared to 2021, which has a direct influence on the Frequency, Severity and Accident Rates. However, we regret to report three fatal accidents at El Brocal Mining Unit. As a result, we have reinforced our prevention communication and strengthened our control measures. Undoubtedly, these events require us to deploy greater efforts and to effectively implement resources to transfer to and monitor compliance with our safety policy and standards among our suppliers and contractors. Casualties Employees Contractors 2019 2020 2021 2022 0 2 0 0 0 0 0 3 Lost Time Injury Frequency Rate (LTIFR) Employees Contractors 2019 2020 2021 2022 0.7 2.1 3.8 2.2 5.7 3.1 4.8 2.7 Total Recordable Injury Frequency Rate (TRIFR) Employees Contractors Process Safety Events Level 1 Employees Contractors *High-potential events 2019 2020 2021 2022 23.2 9.6 16.4 8.6 14.8 10.7 12.8 9.9 2019 2020 2021 2022 26 23 9 19 10 24 4 14 BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING 72 Finally, we have an Occupational Health Program that covers the following subjects: ISO 45 001: 2018. We have the valid verification of the international standard for occupational health and safety management systems. Hazard Identification, Risk Assessment and Controls (IPERC): We have the guidelines for a systematic process of continuous identification of hazards, risk assessment and determination of controls related to Occupational Health and Safety. Contingency Plan: We establish emergency-response plans that are effective and help to minimize the impact of accidents once they occur. Health Risk Assessment: We present guidelines for the assessment of health risks and the determination of the necessary controls. Safety Meetings: We establish rules to communicate occupational health and safety issues so that employees are trained, and misunderstandings and accidents are reduced. Safety Committees and Safety Representatives: We have an Occupational Health and Safety Committee that promotes a safe and healthy work environment based on rules established by the company. Safe Work Analysis: We have a procedure in place to investigate the causes of workplace accidents and establish the necessary controls to ensure that this does not happen again. We share best practices with our teams. Supplier evaluation: We require our suppliers and contractors to have a strict occupational health and safety management, so we evaluate this criterion when selecting them. WE ESTABLISH STANDARDS TO COMMUNICATE OCCUPATIONAL HEALTH AND SAFETY ISSUES IMPROVEMENTS IN THE HEALTH SERVICE OF THE FOLLOWING MINING UNITS AND PROJECTS: Orcopampa MU Uchucchacua MU San Gabriel Project Update of the digital infrastructure: replace- ment of 8 desktop computers and 1 laptop. Implementation of ophthalmology, dentistry and pediatrics campaigns. Benefiting 1100 employees Reactivation of the dentistry service. Implementation of health campaigns in gastroenterology, ophthalmology, and urology. Remodeling of the laboratory area and women’s restroom. Beneficiando a 370 trabajadores Increase in personnel: addition of 2 nurses and 1 paramedic. Purchase of medical equipment: electrocardiograph and renovation of computer equipment. Beneficiando a 170 trabajadores HUMAN CAPITAL BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGSTATEMENT OF LIABILITY ABOUT THE ANNUAL REPORT MESSAGE FROM OUR BOARD OF DIRECTORS WE ARE BUENAVENTURA CORPORATE GOVERNANCE OPERATIONS, PROJECTS AND NEW BUSINESSES SUSTAINABILITY PERFORMANCE HUMAN CAPITAL SOCIAL MANAGEMENT ENVIRONMENTAL MANAGEMENT FINANCIAL RESULTS ANNEXES WE DO MORE THAN MINING 73 73 SOCIAL MANAGEMENT BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING AT BUENAVENTURA, WE FOCUS OUR EFFORTS ON GENERATING SHARED VALUE AND INFLUENCING THE DEVELOPMENT OF THE COMMUNITIES IN WHICH WE OPERATE, MAINLY BECAUSE WE ARE AWARE OF THE SOCIAL IMPACT GENERATED BY OUR OPERATIONS AND BECAUSE WE ARE CONVINCED THAT SUSTAINABLE LOCAL DEVELOPMENT IS NECESSARY. BASED THEREON, OUR MANAGEMENT IS BASED ON FOUR AXES: 1.Outreach and communications 2.Boosting of the local economy 3.Infrastructure 4.Human Development SOCIAL MANAGEMENT 74 OUTREACH AND COMMUNICATIONS We operate under a policy of open doors and constant communication to inform and clarify doubts about our operations and performance. In addition, we are committed to being a good neighbor, which is why we respect and actively participate in the socio- cultural manifestations of the communities. All of this has allowed us to build bonds of trust with the community and its leaders, as well as to provide effectiveness to the social investment projects we promote aiming at local development. Another action that is part of this strategy are the guided tours of our operations, which comply with the corresponding health and safety protocols. We establish groups of 10 to 15 people who are part of the communities in which we have influence, as well as regional and district authorities, students and/or journalists, who take a tour of the mining unit and learn about our processes and activities in a transparent manner. Forty-seven guided tours were conducted in all operations, in 2022. Likewise, as part of our strategy, we prioritize community outreach spaces to listen to the communities and communicate our messages more effectively. We have 16 Permanent Information Offices (PIO) in the areas of influence of our mining units from where, during 2022, we served 4258 people who have approached us seeking information. In addition, we continued with our door-to-door visits, reaching 2101 homes throughout the year. Finally, we have a printed and digital newsletter called Willaspa (communicate in Quechua) that disseminates each of our social activities to workers and the general population. We have published 46 newsletters during the year at all operations. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGBuenaventura MEMORIA ANUAL INTEGRADA 2022 SOCIAL MANAGEMENT WE DO MORE THAN MINING 75 75 BOOSTING OF THE LOCAL ECONOMY The generation of formal employment and the hiring of local companies are the main engine that we activate to boost the local economy and to promote knowledge and production, as we seek that the communities generate their own development. Accordingly, in 2022, 63.31% of the labor hired came from the regions and communities in our area of influence. Likewise, we have procured services and products from local companies for more than US$ 225 million in all the regions where we operate. On the other hand, we have a Productive Development and Business Articulation Program in our mining units, known as the PRA Buenaventura. This emblematic program seeks to improve the traditional productive capacities of the local population to place them in a previously identified market, promoting business in our areas of influence. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING76 PRA BUENAVENTURA Courses of action: 1 Market focus We identified productive activities with a market potential, based on the characteristics of each community. 2 Strengthening of capacities We trained the producers in productive management, business management and associativity in order to generate competitive and sustainable entrepreneurships. 3 Business articulation We facilitated articulation to more and better markets, creating bonds of trust between producers and companies. 4 Complementary financing We managed reimbursable and non-reimbursable funds that contribute to business improvement. SOCIAL MANAGEMENT BENEFICIARIES: Operamos en seis regiones del país, a través de Centros de Servicios Económicos (CSE), beneficiando a 1,451 productores en el 2022, 899 hombres y 552 mujeres de las comunidades de nuestra zona de influencia, las cuales se ubican entre los 2,800 y 4,600 m.s.n.m. OUR RESULTS. 2014 – 2022 78 accumulated projects $ 17,171,048.21 in sales* 1,243,428 accumulated day wages $ 5,960,362.05 Accumulated leverage and credits* 1,2 Uchucchacua, LIMA y PASCO Distrito: Oyón y Yanahuanca. 3 Julcani, HUANCAVELICA Distritos: Ccochaccasa y Licay 4 Trapiche, APURIMAC Distrito: Juan Espinoza Medrano 5 Orcopampa, AREQUIPA Distrito: Orcopampa y Chilcaymarca. 6 Tambomayo, AREQUIPA Distrito Tapay, Caylloma y Lari. 7 San Gabriel, MOQUEGUA Distrito: Ichuña 2 1 3 4 5 6 7 * Conversion factor: 1USD=S/3.9 OYÓN TROUT PRODUCERS RECEIVE GRANTS FROM THE PERUVIAN STATE: A SUCCESS CASE OF PRA BUENAVENTURA Trout producers from the Oyón locality, who received our technical advice, were among the winners of the best business plans that will receive financing from the Procompite Grant, a Peruvian government strategy that co-finances local businesses and enterprises. The winning producers from Oyon are part of the Sierra Norte de Lima Trout Producers Association and will receive financing of approximately US$ 76,000, which will enable them to improve the farming and primary processing of rainbow trout, complete the trout plant and access the necessary equipment. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGBuenaventura MEMORIA ANUAL INTEGRADA 2022 WATER AND SANITATION FOR CCOCHACCASA Thanks to the combined efforts of the Regional Government of Huancavelica and Buenaventura, the project to improve and expand the drinking water and sanitation services in the district of Ccochaccasa, in the province of Angaraes, was completed. This project was executed through the work for taxes modality managed by the Julcani Mining Unit, which has the firm purpose of contributing to the improvement of sanitation conditions for people in Ccochaccasa. It is important to emphasize that this is the first work for taxes in the department, and one of the relevant aspects is that it has a 120 m3 capacity reservoir, with which 287 house connections will be achieved. They will also build 95 manholes, a sewage system, and a wastewater treatment system. INFRASTRUCTURE We are aware of the State’s efforts to close infrastructure gaps in the country. In this sense, we collaborate with leveraged works and in the modality of works for taxes. In 2022, we focused on four fundamental aspects: water and sanitation, irrigation, connectivity, and road infrastructure. Twenty-four projects have been completed, benefiting more than 60,000 people in the regions of Arequipa, Pasco, Cajamarca, Huancavelica, Apurímac, Moquegua, and Lima. Their value is around US$ 10 million, with around US$ 5 million corresponding to the works-for-taxes mechanism. Undoubtedly, infrastructure allows for the development of our communities: 601 families now have water and sanitation connections. 333 rural homes received their basic sanitation units, and have water and sewage. Irrigation works will benefit more than 450 hectares. We have contributed to the improvement and maintenance of more than 182 km of roads and the paving of more than 15,000 m2 of urban roads that have an impact on commerce and communication. 7777 Overview of our investment² WORKS FOR TAXES Our leverage projects focused on management investment and corresponding studies, all for the Cajamarca region: Huancavelica Ccochaccasa Water and Sanitation Project 109,183.33 $ LEVERAGE FOCUSED ON CAJAMARCA: Lima Pavement of Huánuco Ave. Pasco Morales Janampa Av. Jr. César Vallejo 95,766.54 $ Gordillos Water and Sanitation 43,718.01 $ 101,349.74 $ San Lorenzo Alto Water and Sanitation 11,538.46 $ Chugurcillo Mechanized Irrigation System 44,871.79 $ SOCIAL MANAGEMENT ² Does not include investment in the Huaruro Canal, Arequipa. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING HUARURO IRRIGATION CANAL AGRICULTURAL AND MINING JOINT MEGAPROJECT WE DO MORE THAN MINING 78 78 In 2022, among our direct execution projects, donations or trusts, we contributed $ 1,876,448.42. Finally, we would like to highlight the Huaruro Irrigation Canal, a megaproject that proves that agricultural development and mining can coexist; also, this type of project is part of Buenaventura’s policies to generate environmental assets in the eight regions of the country where it operates. SOCIAL MANAGEMENT In the middle of the Colca Canyon, in Arequipa, Compañía de Minas Buenaventura and the peasant community of Tapay completed the Huaruro irrigation canal, which will be emblematic for having conquered a rough geography and confirming that agriculture and formal mining can work hand in hand for the development of families and micro- entrepreneurs who farm the land. The Huaruro Canal, located approximately 2900 meters above sea level, will capture part of the water from the Molloco River and through an encapsulated pipeline of more than 15 km in length will deliver permanent, good quality water to the farmers of the rural annexes of Belén, Malata, Cosñirhua, San Juan de Chuccho and Tapay, which make up the district of the same name. BENEFITS: Modernization of the irrigation system Transportation of more than 140 liters of water per second to strengthen Tapay’s productive activities. Water provision to more than 380 hectares of farming land and improvement of the existing ones. Exponential growth of the agricultural supply of the fertile valley of the district. Improved production of avocados, elderberries, peaches, prickly pears and chirimoyas in the Arequipa region. Capacity building and generation of local employment in the construction of the canal. It should be noted that, since 2017, the year in which the community of Tapay, the civil society of the district and Buenaventura laid the first stone, it has developed in an environment of permanent dialogue, in which the improvement of the quality of life of the Tapay population has been prioritized. In Arequipa, Buenaventura and Tapay are proving that mining and agriculture can also be allies in the development of remote localities of our country’s geography, turning the Huaruro Irrigation Canal into a model that can be replicated in other areas as part of the country’s development. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING79 HUMAN DEVELOPMENT OTHER SOCIAL INDICATORS Education is one of the fundamental pillars for human development and, possibly, the most affected by the pandemic, followed by health, which has affected our children nationwide. In this sense, we have continued with our “Aprender para Crecer” project, which is responsible for teacher training and has been adapted since the remote modality of 2020. Throughout the year, it has benefited 172 teachers from 46 schools and impacted 2259 students, in 8 districts of 4 regions: Lima, Pasco, Huancavelica, and Arequipa. In 2022, we executed the Citizen Participation Plans in the following units and/or projects: El Brocal, Coimolache, Tambomayo, Orcopampa, San Gabriel, and Trapiche. Citizen Participation Plans were executed in 6 out of 10 mining units and projects, which represents 60% of the total. We know that one class is not enough to enhance capabilities, therefore our training strategy is to develop workshops, demonstration sessions, and group counseling and personalized ad hoc activities. In addition to this, we held workshops with parents, fundamental actors in the educational development of our children. Our actions in figures: Training workshops per teacher Interlearning group sessions. Demo sessions Reading promotion counseling for teachers Reading promotion activities Workshops with parents SOCIAL MANAGEMENT N° 6 N° 26 N° 16 N° 156 N° 196 N° 15 CITIZEN PARTICIPATION PLANS WERE EXECUTED IN 6 OUT OF 10 MINING UNITS AND PROJECTS, WHICH REPRESENTS 60% OF THE TOTAL Contributions and donations ($*) Type of contribution 2020 2021 2022 Cash In kind Management expenses (personnel) * Conversion factor: 1USD=S/3.9 Other contributions Lobbying, Representation of Interests or Similar Campaigns / organizations / local, regional or national political candidates Business associations, unions or tax-exempt groups (e.g., think tanks) Others (e.g., expenses related to elections or referendum measures) * Conversion factor: 1USD=S/3.9 3,146,336 3,403,946 204,483 74,304 1,091,818 2,542,712 2,977,857 3,748,838 2019 2020 2021 2022 0 0 0 0 0 0 0 0 247,168 221,746 216,653 138,647 0 0 0 0 BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGSTATEMENT OF LIABILITY ABOUT THE ANNUAL REPORT MESSAGE FROM OUR BOARD OF DIRECTORS WE ARE BUENAVENTURA CORPORATE GOVERNANCE OPERATIONS, PROJECTS AND NEW BUSINESSES SUSTAINABILITY PERFORMANCE HUMAN CAPITAL SOCIAL MANAGEMENT ENVIRONMENTAL MANAGEMENT FINANCIAL RESULTS ANNEXES WE DO MORE THAN MINING 80 80 ENVIRONMENTAL MANAGEMENT BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING OUR PERFORMANCE IS BASED ON THE PREMISE OF OPERATING UNDER AN ADEQUATE MONITORING AND PREVENTIVE CONTROL, ALLOWING US TO MINIMIZE SIGNIFICANT ENVIRONMENTAL IMPACTS ON THE ENVIRONMENT. AMONG THESE IMPACTS, WE PRIORITIZED AN ADEQUATE MANAGEMENT OF WATER RESOURCES, CONTROLLING ITS QUALITY, STRENGTHENING REUSE AND GENERATING ITS RECIRCULATION IN OUR PROCESSES. IN ADDITION, WE CONTINUED TO MANAGE THE DISPOSAL OF WASTE MATERIAL AND SOLID WASTE THROUGH RECYCLING, AS WELL AS THE EXECUTION OF MINE CLOSURE WORKS. 81 EIA MEIA Trapiche Project (development) Colquijirca Yumpag (evaluation) ENVIRONMENTAL MANAGEMENT INSTRUMENTS The basis of prevention is to be strict with the environmental standards that rule us. During 2022, we managed 42 environmental instruments 8 were approved 11 are still under evaluation 17 are being prepared 01 rejected, 01 in court and 04 under reconsideration The development and evaluation of important Environmental Impact Assessments and Modifications to Environmental Impact Assessments continued, as well as the approval of 4 Supporting Technical Reports (STR) to execute low-impact components. IN 2022, THE ENVIRONMENTAL PERFORMANCE INDEX (EPI) REACHED 95.5% ENVIRONMENTAL MANAGEMENT Finally, the IPA - Integrated Plan for Adaptation to the Maximum Permissible Limits (MPL) and the Environmental Quality Standards (EQS) of the Colquijirca Mining Unit were approved. This same plan is under evaluation by the Julcani Mining Unit. Its approval will allow us to adapt our discharges to the new national and sectoral rules on water quality. In that same order, the Uchucchacua IPA was rejected and, in November 2022, the corresponding reconsideration was submitted. Julcani Tambomayo Tantahuatay (Coimolache) Orcopampa El Brocal In 2022, the Environmental Performance Index (EPI) reached 95.5%, which allows us to show the proactivity of employees and contractors with respect to environmental management, as well as the degree of compliance of the different areas with respect to commitments and action plans resulting from the findings of inspections, audits, supervisions, and execution of the training plan. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGGESTIÓN DEL AGUA We recognize the importance of water for sustainable development, both globally and locally, and we consider it a strategic resource, using it efficiently in the metallurgical process, committing to its responsible management in all our processes, reducing its consumption, promoting its recirculation and storing it primarily for the use of the population. 82 1 We use less water 2 We recirculate water 3 We store water in reservoirs 4 We invest in afforestation 5 We promote participatory monitoring 6 We contribute with water to improve agriculture IN 2022, AFTER THE PANDEMIC AND THE RETURN TO THE IN-PERSON MODALITY, WE HAVE: The water recirculation rate in our operations is: 90% in open-pit operations (review data) 87% in underground operations The water consumption rate per quantity of ore processed is: 0.43 m3/MT in open-pit mines 0.88 m3/MT in underground mines ENVIRONMENTAL MANAGEMENT En el año gestionamos 40 instrumentos BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGLikewise, we present the water consumption indicators for 100% of our operations: 2019 2020 2021 2022 Withdrawal: total municipal water supplies or other utility sources 1.14 1.48 1.4 1.57 Withdrawal: fresh surface water (lakes, rivers or others) 5.87 Withdrawal: fresh undergrown water 0.09 4.68 0.08 5.77 0.09 7.18 0.10 Discharge: water returned to the original source of extraction with a quality similar or better than that of the water withdrawn (applicable only to B and C) Total Net Consumption of Fresh Water (A+B+C-D) - - 24.38 22.57* 7.1 6.24 16.22 -13.72 ENVIRONMENTAL MANAGEMENT 83 We also obtained 10 operating permits. 4 were discharge permits, 2 were water use rights, 2 were permits for the execution of minimum works and 2 were permits for hydrogeological studies. In water management, community participation is relevant; therefore, we continued the participatory monitoring of water quality under the initiative of local stakeholders in the areas surrounding the operating units or driven by the operation itself, with the participation of authorities and community representatives. This strategy has allowed to strengthen transparency and trust to build water governance at the local level. Twelve participatory monitoring activities were carried out between the dry and wet seasons, involving the participation of the operating units. In exploration projects, 7 participatory monitoring activities were carried out. It is worth highlighting the process started by Coimolache with the formation of the Participatory Monitoring Committees of the El Tingo peasant community and the district of Chugur, in compliance with the commitments taken on in the environmental instrument. Finally, the experience of the Orcopampa Participatory Monitoring Committee was recognized with the Sustainable Development Award from the National Society of Mining, Petroleum and Energy. CLIMATE CHANGE AND EMISSIONS One of our commitments is to promote actions to mitigate greenhouse gas emissions in order to manage climate change. One of these actions has been measuring the carbon footprint of the 7 mining units in the 2021 period, in categories 1 and 2, which refer to fossil fuel consumption and energy consumption. Our result shows a total footprint of 116,931 TnCO2eq. In addition, this inventory was registered in the Carbon Footprint Peru Program of the Ministry of the Environment, obtaining the respective certification of each of the mining units. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING84 On the other hand, a qualitative assessment of climate risks was carried out in each of the mining units, considering the levels of exposure and the possible impacts that could be generated in the operations due to hydrometeorological phenomena. The risks derived from climate change that could most affect the operating units are: At the physical level: Mass movements caused by increased precipitation, frost frequency, and increased UV radiation. At the transition level: Policy changes and cost increases caused by the potential tax payment due to the generation of GHG emissions and the displacement and obsolescence of current technologies by carbon-efficient technologies. Finally, based on the inventory carried out, a strategic plan is being drawn up to reduce emissions from the mining units by 2030, considering the life of mine and strategies to replace the use of fossil fuels and energy efficiency, together with the change of the energy matrix towards the use of renewable energies that will significantly contribute to reduce the risks associated with climate. ENVIRONMENTAL MANAGEMENT ENVIRONMENTAL INNOVATION Our biotechnological innovation project at the La Zanja Mining Unit obtained State funding in the amount of US$ 115,400 to carry out tests and verify its efficiency in situ. The project monitoring will continue during 2023. SOIL REHABILITATION AND REVEGETATION WORKS EXECUTED DURING THE YEAR AMOUNTED TO US$ 4.48 MILLION BIOTECHNOLOGY Objective: Enrichment of "top soil" and "seeds" through consortia of benefi- cial native microorganisms, as biofertilizers. Purpose: Improve soil fertilization and reduce mine closure cover costs. During 2023 we will seek to develop innovation projects to improve water treatment efficiency in the reduction of sulfates and manganese, one of the parameters with the highest removal costs. OTHER ENVIRONMENTAL INDICATORS In addition, as part of the innovation process, the digitalization of environmental management information was started, and data from the various environmental tools was collected so as to evaluate and measure the environmental performance of each of Buenaventura’s unit and/or project. The information is made available to the environmental team to improve decision- making and reduce the time required to process it. MINE CLOSURE The mine closure allowance for mining units, exploration projects, and environmental liabilities reached of US$ 467 million in 2022. Soil rehabilitation and revegetation works executed during the year amounted to US$ 4.48 million. Other closure works, mainly related to physical and geochemical stability of components, amounted to US$ 14.78 million. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING85 MINERAL RESIDUES (MILLION METRIC TONS) HAZARDOUS SOLID RESIDUES (METRIC TONS) 2019 2020 2021 2022 2020 2021 2022 Generated mineral waste: waste rock Generated mineral residues: tailings Reused mineral residues Total disposed mineral residues 7.64 4.53 1.25 10.92 5.18 5.40 1.06 9.52 9.07 6.56 1.24 14.39 7.26 4.54 0.42 11.39 Total recycled/reused residues 493.68 457.52 398.91 Total waste disposed of (waste disposed of by third parties, solid waste disposal companies approved by DIGESA) 1021.53 1099.19 2,760.91 NON-HAZARDOUS SOLID RESIDUES (METRIC TONS) ENERGY CONSUMPTION (MWH) 2020 2021 2022 2019 2020 2021 2022 Total recycled/reused residues 6947.94 3332.32 3,926.15 Total waste disposed of (waste disposed of by third parties, solid waste disposal companies approved by DIGESA) 3698.44 2790.99 2,272.54 Total consumption of non-renewable energy Total consumption of renewable energy 163.17 101.80 107.66 268.54 671,344.993 515,249.567 620,221.820 565,662.294 Total consumption of energy 671,508.163 515,351.367 620,329.480 565,930.835 ENVIRONMENTAL MANAGEMENT BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGENVIRONMENTAL INFRACTIONS: EXPOSURE AND ASSESSMENT OF BIODIVERSITY 86 Number of legal infractions (legal/regulatory obligation)¹ Number of fines/penalties related to the number of legal violations (in US$)² Environmental liabilities accrued by the end of the yea³ 2019 2020 2021 2022 3 2 2 10 102,511 159,595 159,595 385,567 0 0 0 0 ¹ Number of fines paid in 2022, exceeding US$ 10,000, PAS matrix reference. ² Conversion factor: 1USD=S/3.9 ³ There are no outstanding debts to OEFA. The number of fines decreased because the exemptions sent to the OEFA reduced the Tax Units (UIT), thanks to responses with solid technical-legal support. ENVIRONMENTAL PROFITABILITY 2019 2020 2021 2022 Capital expenditures 81,305,491 47,667,406 53,925,723 60,263,477 Operating expenses 126,120,677 118,621,780 315,976,078 261,705,643 Total expenses (capital expenditures + operating expenses) Savings, cost reductions, income, tax incentives, others. Conversion factor 1USD=S/3.85 ENVIRONMENTAL MANAGEMENT 207,426,168 166,289,186 369,901,801 321,969,120 4,753,527 3,780,232 3,151,755 16,901,581 En Total Total number of sites and total area used for operating activities. Assessment Biodiversity impact assessments conducted at sites used for operational activities during the last five years Exposure Of the sites assessed in the last five years, those sites that are very close to critical biodiversity and total area are listed. Management Plans Of those sites that are very close to critical biodiversity, the sites with a biodiversity management plan and the area covered by these biodiversity management plans are listed. Number of sites Hectares 7 7 0 0 14,731.3 4,003.76 0 0 BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING1 As of December 31 of 2022, we had 980 common shareholders. Of those, 18.217% correspond to shareholders residing in the country and 81.783% to non- residents. Also, we had 890 shareholders holding investment shares. The ADRs program of the New York Stock Exchange (NYSE), achieved a trading volume of US$ 2,854,610,378 (371,512,737 ADS), during 2022. Also, as of December 31 of 2022, there were 221,291,131 ADS outstanding, representing 80.50% of the company’s total shares outstanding. 80.50% represent the total outstanding shares of the company as of December 31, 2022. FINANCIAL RESULTS ECONOMIC AND FINANCIAL REPORT The company’s net profit amounts to US$ 602.9 M, compared to the US$ 262.8 M loss of 2021. Excluding the benefit related to the Yanacocha transaction, the company’s net profit amounts to US$ 124.4 M. On a consolidated basis, the metal with the highest percentage value of our 2022 sales was copper with 38%, followed by gold with 31%, silver with 16%, zinc with 11%, and lead with 3%. In addition, the net debt ratio over EBITDA closed the year in 2.80x. During 2022, the final cash position decreased from US$ 377.0 million to US$ 253.9 million, and the total CAPEX for the year was US$ 152.0 M. FINANCIAL RESULTS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGESTADOS FINANCIEROS Tanaka, Valdivia & Asociados Sociedad Civil de R.L Report of Independent Registered Public Accounting Firm Report of Independent Registered Public Accounting Firm (continued) 2 To the Board of Directors and Shareholders of Compañía de Minas Buenaventura S.A.A. Opinion We have audited the consolidated financial statements of Compañía de Minas Buenaventura S.A.A. and subsidiaries (the Group), which comprise the consolidated statement of financial position as of December 31, 2022, and the consolidated statement of profit or loss, the consolidated statement of other comprehensive income (loss), the consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies. In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as of December 31, 2022 and its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards (IFRSs) as issued by the International Accounting Standard Board (IASB). Basis for opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) approved for its application in Peru by the Board of Deans of Peruvian Public Accounting Associations. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the consolidated financial statements section of our report. We are independent of the Group in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including International Independence Standards) (IESBA Code) together with the ethical requirements that are relevant to our audit of the consolidated financial statements in Peru, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Key audit matters Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. For each matter below, our description of how our audit addressed the matter is provided in that context. Lima Av. Víctor Andrés Belaunde 171 San Isidro Tel: +51 (1) 411 4444 Lima II Av. Jorge Basadre 330 San Isidro Tel: +51 (1) 411 4444 Arequipa Av. Bolognesi 407 Yanahuara Tel: +51 (54) 484 470 Chiclayo Av. Federico Villarreal 115 Sala Cinto, Urb. Los Parques Lambayeque Tel: +51 (74) 227 424 Trujillo Av. El Golf 591 Urb. Del Golf III Víctor Larco Herrera 13009, Sede Miguel Ángel Quijano Doig La Libertad Tel: +51 (44) 608 830 Inscrita en la partida 11396556 del Registro de Personas Jurídicas de Lima y Callao Miembro de Ernst & Young Global We have fulfilled the responsibilities described in the Auditor’s responsibilities for the audit of the consolidated financial statements section of our report, including in relation to these matters. Accordingly, our audit included the performance of procedures designed to respond to our assessment of the risks of material misstatement of the consolidated financial statements. The results of our audit procedures, including the procedures performed to address the matters below, provide the basis for our audit opinion on the accompanying consolidated financial statements. Description of the Matter Impairment of Property, plant, equipment and development cost As of December 31, 2022, the net book value of the Group's property, plant, equipment and development costs was US$1,527.2 million. Related disclosures are included in Note 2.4(m) and Note 11(b) to the consolidated financial statements. The Group reviews and evaluates its property, plant, equipment and development costs for impairment, at least once a year, or when events or changes in circumstances indicate that the related book values, at the Cash Generating Unit (CGU) Level, may not be recoverable. When the Group determines the existence of indicators of significant impairment, Management performs an evaluation to determine if there is impairment. There is impairment when the book value of an asset or CGU exceeds its recoverable amount, the recoverable amount being the higher of fair value less costs to sell and value in use. On the other hand, a previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the recoverable amount of the asset or CGU since the last impairment loss was recognized. The Group has estimated the value in use at the level of each CGU to test the impairment of its property, plant, equipment and development costs. During the year 2022, the Group recognized a reversal of the impairment in the Río Seco CGU of US$19.9 million. The audit carried out on the impairment assessment of the Group's property, plant, equipment and development costs was complex and involved judgment due to the importance of this estimate in determining the value in use of each CGU. In particular, estimates of value in use were sensitive to significant assumptions such as production volumes, mine life, market price of metals, discount rates reflecting current market assessments of the time value of money, and the specific risks associated with each CGU, including estimated amounts of recoverable minerals and residual value. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING Report of Independent Registered Public Accounting Firm (continued) Report of Independent Registered Public Accounting Firm (continued) How We We obtained an understanding of the design of the controls executed by the Uncertain tax positions 3 Addressed the Matter in Our Audit Management of the Group on the evaluation process of impairment of property, plant, equipment and development costs, including the process to identify and evaluate possible indicators of impairment and reversal; as well as an understanding of the review carried out by the Group of the significant assumptions, the projected financial information and the methodology used to develop said estimates. To test the estimated value in use of the Group's CGUs, we carried out audit procedures that included, evaluating estimation methodology and testing the significant assumptions discussed above, as well as the underlying data used by the Group in its analysis. We evaluate projected financial information by comparing commodity prices with available market information and internal business plans. We also assess future production levels used in impairment analyses, which are based on life-of-mine plans, against historical estimates and actual results. We engaged our valuation specialists to help us compare commodity price assumptions with market data and analyst forecasts. Additionally, our valuation specialists reviewed the discount rates used, comparing them to current industry and economic trends, and evaluated the specific risk premiums applied. We also perform a sensitivity analysis on changes in discount rates and commodity price assumptions to assess any changes in the recoverable value of the CGUs that might result from changes in these assumptions. The Group engages independent consultants to validate the estimated amount of recoverable mineral reserves, which were carried out by qualified persons of the Managament and used as part of the impairment analyses. We assess the competence and objectivity of the independent consultants, as well as the competence of the Group's qualified persons. In addition, we evaluate the Group's estimated amounts of recoverable minerals by comparing them to the historical operating performance of each CGU. In addition, we assess the disclosure of this matter in Note 2.4(m) and Note 11(b) to the consolidated financial statements. FINANCIAL RESULTS Description of As disclosed in Note 31(d) to the consolidated financial statements, the the Matter Group has identified certain contingencies related to income tax associated with the fiscal years 2007 to 2010, 2013 and 2014 and 2017 In these years, the tax authorities pertinent parties have challenged the tax treatment applied by the Group under the Peruvian income tax law. As of December 31, 2022, the Group has recognized an account receivable for payments made under protest to the tax authority for an amount of $617.7 million, as a result of payments made to the tax authorities as part of the tax claim process in Peru, but for which the Group is disputing the validity of the assessment made by the tax authorities. The Group has disclosed, but has not recorded, a provision related to these matters, as Management has concluded that the criteria for the recognition of an income tax liability under IFRS have not been met and that the amounts paid to date will be recoverable based on the technical merits of the income tax positions adopted by the Group. Uncertainty in a tax position may arise when there is uncertainty as to the applicability of income tax law, or the applicability of tax law to a particular transaction, or both. The Group uses significant judgment to determine, based on technical merits, whether its tax position is more likely to be upheld in determining the recoverable amount of income tax-related accounts receivable. The audit of the estimate of uncertain tax positions and recoverability related to income tax receivables, before the uncertain tax treatment is resolved, requires a high degree of auditor judgment and a significant audit effort due to the complexity and judgment used by the Group in the determination, based on interpretations of the income tax legislation and legal provisions in Peru. How We Addressed the Matter in Our Audit We obtained an understanding of the design of the controls by the Group's Management on the accounting process for the determination of income tax, including uncertain tax positions and tax contingencies, for this we obtained an understanding of the review carried out by the administration on the technical merits of uncertain tax positions, disputed tax assessments, and determination and approval of the recoverable amount of income tax-related accounts receivable. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING Report of Independent Registered Public Accounting Firm (continued) Report of Independent Registered Public Accounting Firm (continued) Informe de los Auditores Independientes (continuación) 4 Our audit procedures included, among others, the evaluation of the assumptions used by the Group to develop its uncertain tax positions based on the Peruvian income tax laws, including the inspection and analysis of these matters by internal lawyers. and external to the Group. In addition, we engage our tax professionals to assess the technical merits of the Group's tax position and to assess the application of relevant tax law and accounting guidance when assessing the recognition and recoverability of tax-related receivables. to earnings. In addition, we evaluate the disclosure of this matter in Note 31(d) to the consolidated financial statements. Other information included in The Group’s 2022 Annual Report Other information consists of the information included in the Annual Report, other than the consolidated financial statements and our auditor’s report thereon. Management is responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. When we read and consider the Annual Report for December 31, 2022, if we conclude that it contains a material misstatement, we will communicate the identified matter to those charged with governance of the Group. Responsibilities of management for the consolidated financial statements Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with IFRSs as issued by the IASB, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. In preparing the consolidated financial statements, management is responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going En relación con nuestra auditoría de los estados financieros consolidados, nuestra responsabilidad es concern and using the going concern basis of accounting unless management either intends to leer la otra información y, al hacerlo, considerar si la otra información es materialmente inconsistente liquidate the Group or to cease operations, or has no realistic alternative but to do so. con los estados financieros consolidados o nuestro conocimiento obtenido en la auditoría o si de otra manera parece estar materialmente mal expresada. Those charged with governance are responsible for overseeing the Group’s financial reporting process. Cuando leamos y consideremos la Memoria Anual correspondiente al 31 de diciembre de 2022, si concluimos que contiene una incorrección material, comunicaremos el asunto identificado a los Auditor’s responsibilities for the audit of the consolidated financial statements responsables del Gobierno del Grupo. Our objectives are to obtain reasonable assurance about whether the consolidated financial Responsabilidad de la Gerencia y los responsables del gobierno de la Compañía en relación con los statements as a whole are free from material misstatement, whether due to fraud or error, and to issue estados financieros consolidados an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material La Gerencia es responsable de la preparación y presentación razonable de estos estados financieros misstatement when it exists. Misstatements can arise from fraud or error and are considered material consolidados de acuerdo con Normas Internacionales de Información Financiera, emitidas por el if, individually or in the aggregate, they could reasonably be expected to influence the economic Consejo de Normas Internacionales de Contabilidad y del control interno que la Gerencia determine decisions of users taken on the basis of these consolidated financial statements. que es necesario para permitir la preparación de estados financieros consolidados libres de errores materiales, ya sea debido a fraude o error. As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: Al preparar los estados financieros consolidados, la Gerencia es responsable de evaluar la capacidad del Grupo para continuar como una empresa en marcha, revelando, según corresponda, los asuntos  Identify and assess the risks of material misstatement of the consolidated financial statements, relacionados con la empresa en marcha y utilizando la base contable de la empresa en marcha, a whether due to fraud or error, design and perform audit procedures responsive to those risks, menos que la Gerencia tenga la intención de liquidar o cesar las operaciones, o no tenga otra and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. alternativa realista diferente a hacerlo. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, Los responsables del gobierno del Grupo son responsables de la supervisión del proceso de misrepresentations, or the override of internal control. información financiera del Grupo.  Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.  Nuestros objetivos son obtener seguridad razonable sobre si los estados financieros consolidados en Responsabilidad del auditor en relación con la auditoria de los estados financieros su conjunto están libres de incorrección material, ya sea por fraude o error, y emitir un informe que  Conclude on the appropriateness of management’s use of the going concern basis of incluya nuestra opinión. La seguridad razonable es un alto nivel de aseguramiento, pero no garantiza accounting and, based on the audit evidence obtained, whether a material uncertainty exists que una auditoría realizada de conformidad con las NIA siempre detectará una incorrección related to events or conditions that may cast significant doubt on the Group’s ability to continue importante cuando exista. Las incorrecciones pueden surgir debido a fraude o error y se consideran as a going concern. If we conclude that a material uncertainty exists, we are required to draw materiales si, individualmente o acumuladas, podría esperar que influyan razonablemente en las attention in our auditor’s report to the related disclosures in the consolidated financial decisiones económicas que los usuarios toman basándose en los estados financieros consolidados. statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are FINANCIAL RESULTS based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going concern. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING Report of Independent Registered Public Accounting Firm (continued)   Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation. Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats or safeguards applied. From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication. Lima, Peru February 28, 2023 Signed by: Carlos Valdivia C.P.C. Register N° 27255 FINANCIAL RESULTS 5 Compañía de Minas Buenaventura S.A.A. and Subsidiaries Consolidated statements of financial position As of December 31, 2022 and 2021 Assets Current assets Cash and cash equivalents Trade and other receivables Inventories Income tax credit Prepaid expenses Hedge derivative financial instruments Non-current assets Trade and other receivables Inventories Investments in associates and joint venture Property, plant, equipment and development cost Deferred income tax asset Prepaid expenses Other non-financial assets Total assets Liabilities and equity Current liabilities Bank loans Trade and other payables Provisions Income tax payable Financial obligations Hedge derivative financial instruments Liability directly associated with the held for sale assets Non-current liabilities Trade and other payables Provisions Financial obligations Includes lines that are not provisions such as benefits to employees. Contingent consideration liability Deferred income tax liabilities SAD. Total liabilities Equity Capital stock Investment shares Additional paid-in capital Legal reserve Other reserves Other reserves of equity Retained earnings Shareholders‘ equity attributable to owners of the parent Non-controlling interest Total equity Total liabilities and equity Notes 2022 2021 US$(000) US$(000) 6 7(a) 8(a) 9(a) 34 7(a) 8(a) 10(a) 11(a) 30(b) 9(a) 12(a) 13 14(a) 15(a) 16(a) 34 1(e) 14(a) 15(a) 16(a) 29(c) 30(b) 17 18(a) 253,918 221,899 88,345 28,046 19,333 8,839 620,380 673,627 - 1,520,977 1,535,195 106,170 23,033 23,845 3,882,847 4,503,227 - 247,989 94,171 2,366 35,071 - 379,597 - 379,597 3,553 204,347 703,463 16,905 32,421 960,689 1,340,286 750,497 791 218,450 163,270 31,897 2,184 1,841,761 3,008,850 154,091 3,162,941 4,503,227 376,999 240,432 86,264 15,456 20,394 - 739,545 635,832 12,802 1,422,295 1,537,870 164,351 23,920 25,196 3,822,266 4,561,811 50,000 259,641 81,039 3,026 179,417 6,976 580,099 264,838 844,937 3,037 232,288 878,558 17,718 46,742 1,178,343 2,023,280 750,497 791 218,450 163,270 269 (4,477) 1,239,526 2,368,326 170,205 2,538,531 4,561,811 Lima Av. Víctor Andrés Belaunde 171 San Isidro Tel: +51 (1) 411 4444 Lima II Av. Jorge Basadre 330 San Isidro Tel: +51 (1) 411 4444 Arequipa Av. Bolognesi 407 Yanahuara Tel: +51 (54) 484 470 Chiclayo Av. Federico Villarreal 115 Sala Cinto, Urb. Los Parques Lambayeque Tel: +51 (74) 227 424 Trujillo Av. El Golf 591 Urb. Del Golf III Víctor Larco Herrera 13009, Sede Miguel Ángel Quijano Doig La Libertad Tel: +51 (44) 608 830 Inscrita en la partida 11396556 del Registro de Personas Jurídicas de Lima y Callao Miembro de Ernst & Young Global BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING 6 Compañía de Minas Buenaventura S.A.A. and Subsidiaries Consolidated statements of other comprehensive income (loss) For the years ended December 31, 2022, 2021 and 2020 2022 2021 2020 US$(000) US$(000) US$(000) Profit (loss) 602,935 (262,804) (150,339) Other comprehensive income (loss) to be reclassified to profit or loss, net of income tax Net change in unrealized gain (loss) on copper and zinc prices hedge, net of income tax , note 34(b) Net change in unrealized gain (loss) on interest rate hedge, net of income tax, note 34(c) Share of other comprehensive income of associates accounted for using equity method, net of income tax, note 10(d) Total other comprehensive income (loss) that will be reclassified to profit or loss, net of income tax 10,696 454 (101) 11,049 6,678 1,403 (335) 7,746 (11,142) (1,857) 264 (12,735) − Total comprehensive income (loss) 613,984 (255,058) (163,074) Profit (loss) attributable to: Owners of the parent Non-controlling interest 609,211 4,773 (259,026) 3,968 (143,933) (19,141) 613,984 (255,058) (163,074) Compañía de Minas Buenaventura S.A.A. and Subsidiaries Consolidated statements of profit or loss For the years ended December 31, 2022, 2021 and 2020 Notes 2022 US$(000) 2021 US$(000) 2020 US$(000) Continuing operations Operating income Sales of goods Sales of services Royalty income Total operating income Cost of sales Cost of sales of goods, excluding depreciation and amortization Unabsorbed cost due to production stoppage Cost of sales of services, excluding depreciation and amortization Depreciation and amortization Exploration in operating units Mining royalties Total cost of sales Gross profit Operating income (expenses) Administrative expenses Selling expenses Exploration in non-operating areas Provision of contingencies and others Impairment recovery (loss) of long-lived assets Write – off of stripping activity asset Other, net Total operating income (expenses) Operating loss Share in the results of associates and joint venture Foreign currency exchange difference Finance income Finance costs Profit (loss) before income tax Current income tax Deferred income tax Total income tax Profit (loss) from continuing operations Discontinued operations 20(b) 20(b) 20(b) 21(a) 22 21(b) 23 24 25 26 27 11(b) 11(g) 28(a) 10(b) 29(a) 29(a) 30(c) 30(c) 801,199 22,222 1,381 824,802 (461,942) (23,058) (3,163) (176,781) (80,796) (17,733) (763,473) 61,329 (67,728) (20,222) (14,252) (2,935) 19,874 - (15,085) (100,348) (39,019) 176,270 26,871 14,443 (54,136) 124,429 (15,633) 15,592 (41) 124,388 863,470 21,052 15,928 900,450 (529,731) (25,509) (1,269) (187,211) (56,412) (12,974) (813,106) 87,344 (67,585) (20,827) (11,270) ) (2,687) (14,910) (6,763) (29,260) (153,302) (65,958) 240,450 (18,686) 5,952 (60,629) 101,129 (20,375) 44,046 23,671 124,800 637,619 20,285 18,638 676,542 (393,888) (27,758) (1,554) (189,620) (28,044) (11,749) (652,613) 23,929 (67,185) (18,533) (8,475) (4,150) 2,083 (11,633) 2,690 (105,203) (81,274) 62,702 (4,116) 2,411 (37,822) (58,099) (9,924) (15,506) (25,430) (83,529) Profit (loss) from discontinued operations 1(e) 478,547 (387,604) (66,810) Profit (loss) Profit (loss) attributable to: Owners of the parent Non-controlling interest Basic and diluted profit (loss) per share, stated in U.S. dollars Attributable to owners of parent Attributable to owners of the parent for continuing operations Attributable to owners of the parent for discontinued operations 602,935 (262,804) (150,339) 602,550 385 602,935 (264,075) 1,271 (262,804) (135,718) (14,621) (150,339) 2.37 0.49 1.88 (1.04) 0.49 (1.53) (0.53) (0.27) (0.26) 18(a) 17(e) 17(e) 17(e) FINANCIAL RESULTS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING 77 MANAGEMENT ANALYSIS AND DISCUSSION THE MAIN VARIATIONS IN THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE 12-MONTH PERIODS ENDED ON DECEMBER 31 OF 2022 AND 2021, ARE EXPLAINED HEREUNDER: (FIGURES IN US DOLLARS ARE EXPRESSED IN THOUSANDS, EXCEPT FOR METAL PRICES AND QUANTITIES) FINANCIAL RESULTS NET SALES OF GOODS In 2022, the sales of goods accounted for US$ 801,199, compared with sales of US$ 863,470 in 2021, which represents a 7% decrease. This variation is mainly explained by the net effect of the following factors: a) Gold sales The sales of gold increased as a result of the effect of the rise in prices from US$ 1775.37/oz in 2021 to US$ 1781.28/oz in 2022, and the volumes sold increased by 20,320 ounces of gold, compared with 2021 (a 14% increase). The combined effect meant a greater sales revenue of US$ 37,071 in 2022, compared with 2021, mainly explained by the net effect of: (i) the increase in sales of the Orcopampa and Tambomayo mining units by US$ 44,774 and US$ 13,054, respectively, as a result of the higher volume sold, offset by (ii) the decrease in sales of the Tambomayo mining unit by US$ 28,179, as a result of the decrease in sales to third parties during 2022. b) Copper sales The copper sales increased as a result of a net effect of the sold-volumes increase by 9286 MT of copper, compared with 2021 (a 26% increase) and the decrease in prices from US$ 9455.09/ MT in 2021 to US$ 8112.84/MT in 2022 (a 14% decrease). The combined effect meant a greater sales revenue of US$ 26,756 in 2022, compared with 2021, mainly explained by the increase in the sold quantities of the Colquijirca mining unit by US$ 26,380. c) Silver sales Silver sales decreased as a result of the decrease in the average price from US$ 25.09/ oz in 2021 to US$ 20.89/oz in 2022 (a 17% decrease) and lower volumes sold by 5,072,178 BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING8 combined effect meant a lower sales revenue of US$ 36,094 in 2022, compared with 2021, mainly due to the effect of the decrease in sales of the Colquijirca and Uchucchacua mining units by US$ 29,366 and US$ 14,814, respectively, as a result of the decrease in the volumes sold, despite the agreed prices increased. e) Deductions During 2022, deductions to metal prices for maquila and penalties in concentrate sales as a whole amounted to US$ 183,077, compared with US$ 196,201 in 2021, amounts that have been deducted from total net sales of each year. SALES COSTS In 2022, operating expenses amounted to US$ 763,473, compared with US$ 813,106 in 2021, which represents a decrease of 6%. This decrease was mainly due to the effect of: ounces of silver. The combined effect meant a lower sales revenue of US$ 159,007 in 2022, compared with 2021, mainly due to the effect of the decrease in sales of the Uchucchacua and Colquijirca mining units by US$ 78,625 and US$ 64,028, respectively, as a result of the temporary halt in production at Uchucchacua and the lower volumes and prices at Colquijirca. d) Zinc sales Zinc sales decreased as a result of the net effect of a decrease in the volumes sold by 14,902 tons, compared with 2021, and an increase in the average sales price from US$ 3185.05/MT in 2021 to US$ 3556.72/MT in 2022 (a 12% increase). The FINANCIAL RESULTS a) Cost of sales of goods, without considering depreciation and amortization The cost of sales of goods, without considering depreciation or amortization, decreased by US$ 67,789, from US$ 529,731 in 2021 to US$ 461,942 in 2022, which represents a decrease of 13%. The decrease in cost of sales is mainly explained by the net effect of i) the halt in operations at the Uchucchacua mining unit (see 2(b)), which generated a lower cost of sales by US$ 95,359, partially offset by ii) a higher cost of sales by US$ 19,976 at the Colquijirca mining unit. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGb) Costs not absorbed during production shut down Unabsorbed costs during the halt in production decreased by US$ 2451, from US$ 25,509 (net of intercompany eliminations) in 2021 to US$ 23,058 (net of intercompany eliminations) in 2022, which represents a decrease of 10%. During 2022 and 2021, the unabsorbed production costs of the mining units correspond to the halt in production at the Uchucchacua and Río Seco mining units. The Uchucchacua mining unit experienced operational problems that were aggravated by the COVID-19 pandemic, which forced the company to reduce production estimates. Consequently, on October 15 of 2021, the company requested the Ministry of Energy and Mines the temporary suspension of activities at said unit, specifically those related to mining and smelting. As a result of this suspension, the industrial activities at subsidiary Procesadora Industrial Río Seco S.A. (which receives raw material from the Uchucchacua mining unit) were suspended until the restart of operations at Uchucchacua, scheduled for the second half of 2023. FINANCIAL RESULTS c) Exploration in operating units Exploration in operating units increased by US$ 24,384, from US$ 56,412 in 2021 to US$ 80,796 in 2022, mainly due to the increase in explorations in all the units of the Group. Explorations increased mainly at Uchucchacua and La Zanja by US$ 21,502 and US$ 2638, respectively. OPERATING INCOME (EXPENSE), NET In 2022, operating expenses amounted to US$ 100,348, compared with US$ 153,302 in 2021, which represents a decrease of 35% mainly explained by: a) Recovery (loss) for impairment of long-lived assets During 2022, a US$ 19.9-million recovery of the 2021 provision for impairment of long-lived assets related to Río Seco was recorded. Additionally, US$ 5.0 million were recovered of the provision for the La Zanja mining unit during 2021. the fact that, in 2021, the Colquijirca mining unit recorded a write-off of the deferred stripping cost asset for US$ 6763. During 2022, there were no write-offs for this item. c) Others, net The US$ 14,175-variation in “Others, net” from a US$ 29,260-expense in 2021 to a US$ 15,085-expense in 2022 is mainly explained by the effect of: (i) an US$ 8455 income related to income from the transfer of mining rights by the Chaupiloma subsidiary and (ii) a US$ 4462 income resulting from changes in provisions for exploration-project closure liabilities and environmental liabilities. OTHER INCOME (EXPENSE), NET The Other income (expense) net item went from a profit of US$ 101,129 in 2021 to a profit of US$124,429 in 2022, mainly due to the net effect of: b) Asset write-off for deferred-clearing cost The US$ 6763 variation is explained by a) Net income shares of associates and joint ventures The decrease in the results of associates and joint ventures from a US$ 240,450 profit in 2021 to a 99 THE EXPLORATION ITEM IN OPERATING UNITS INCREASED BY US$24,384, IN THE YEAR 2022 BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING 10 Other net income (expenses) went from a profit of US$101,129 in 2021 to a profit in 2022 of US$124,429 PROVISION FOR INCOME TAX This item is formed by the Income Tax and the Mining Royalties and the Special Mining Tax. a) Profits tax This item shows a variation of a lower income of US$ 27,465 mainly explained by a lower income in the deferred portion of the tax on a US$ 43,951 profit in 2021 compared with a US$ 15,449 profit in 2022, mainly explained by the positive effect of the translation in foreign currency of the items in dollars for US$ 20,153 during 2022. b) Mining Royalties and Special Mining Tax This item shows a variation of a lower expense of US$ 3753, mainly explained by the lower expense in the current portion of US$ 3705. US$ 176,270 profit in 2022, resulting from a higher loss of Sociedad Minera Cerro Verde S.A.A. and Compañía Minera Coimolache S.A. by US$ 52,121 and US$ 10,663, respectively. b) Net exchange difference The change in the net exchange difference from a loss of US$ 18,686 in 2021 to a profit of US$ 26,871 is explained by the changes in the exchange rate of the accounts receivable from tax claims. The SUNAT claim was registered in soles as part of “Trade accounts and other receivables”, therefore, exchange rate variations will directly impact the company’s financial statements. FINANCIAL RESULTS BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGWE DO MORE THAN MINING 11 11 ANNEXES STATEMENT OF LIABILITY ABOUT THE ANNUAL REPORT MESSAGE FROM OUR BOARD OF DIRECTORS WE ARE BUENAVENTURA CORPORATE GOVERNANCE OPERATIONS, PROJECTS AND NEW BUSINESSES SUSTAINABILITY PERFORMANCE HUMAN CAPITAL SOCIAL MANAGEMENT ENVIRONMENTAL MANAGEMENT FINANCIAL RESULTS ANNEXES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING Operations Summary ‘CHART N° 1 OPERATIONS SUMMARY 2022 DESCRIPTION Treated head ore Head ore Ag. Au Cu Pb. Zn. Bulk concentrate (Ag-Pb-Cu-Au) Gold-silver concentrate Lead-silver-gold concentrate Copper concentrate Zinc concentrate Py-gold concentrate Ounces of silver Ounces of gold Metallic copper Metallic lead Metallic zinc Ag Recovery Au Recovery Cu Recovery Pb Recovery Zn Recovery Cost applicable to sales of Ag oz Cost applicable to sales of Au oz Cost applicable to sales of Zn MT Cost applicable to sales of Cu MT TAMBOMAYO 634,367.90 3.12 3.06 1.79 2.40 21,708.94 29,014.47 1,863,410.88 54,320.41 10,289.80 13,510.59 94.08 86.94 90.57 88.62 1,008 UNIT TMS Oz./TMS Gr./TMS % % % DMT DMT DMT DMT DMT DMT oz oz MT MT MT % % % % % US $ US $ US $ US $ 12 COIMOLACHE LA ZANJA UCHUCCHACUA 7,712,046.61 0.10 0.44 4,336,273.37 0.11 0.38 ORCOPAMPA 236,505.26 0.18 10.01 2,812.46 32,124.27 74,478.09 296,967.92 82,407.81 105,435.00 29,615.63 74.32 97.83 48.62 69.71 20.61 44.27 913 1,393 1,820 BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING DESCRIPTION UNIT Treated head ore Head ore Ag. Au Cu Pb. Zn. Lead-silver concentrate Copper concentrate Zinc concentrate Metallic molybdenum Leached copper Ounces of silver Ounces of gold Metallic copper Metallic lead Metallic zinc Ag Recovery Au Recovery Cu Recovery Pb Recovery Zn Recovery Cost applicable to sales of Ag oz Cost applicable to sales of Au oz Cost applicable to sales OF Zn MT Cost applicable to sales OF Cu MT ANNEXES DMT oz/DMT g/DMT % % % DMT DMT DMT DMT DMT Oz. Oz. TM TM TM % % % % % US $ US $ US $ US $ JULCANI Acchilla 132,297.83 20.34 0.12 Marcapunta 3,030,696.38 0.89 0.67 1.78 3,318.49 187,063.42 2,640,689.39 196.83 232.53 529.92 1,513,932.14 23,169.97 46,164.80 98.12 36.42 97.85 91.16 14.88 56% 35% 86% 6,614 EL BROCAL Tajo Norte - Pb y Zn 1,653,457.19 1.69 0.24 1.01 2.54 24,316.61 51,984.68 1,843,264.11 - 6,790.78 23,358.62 61% 40% 55% 2,734 13 Tajo Norte - Cu 172,004.53 2.14 0.13 1.10 Cerro Verde Cathodos 21,975 Concentrates 149,373,000 0.33 6,599.00 199,632.36 189.18 1,187.29 55% 25% 63% 10,558 4,415,291.00 45,090 396,464.00 60.05 85.34 BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING Chart N° 2 RESERVES AS OF DECEMBER 31, 2022 Proven and probable reserves ANNEXES 14 GOLD Orcopampa Julcani Tambomayo La Zanja Coimolache El Brocal Marcapunta El Brocal (Tajo Norte Smelter - Cu-Ag) San Gabriel Total Gold Reserves SILVER Uchucchacua/Yumpag (Silver-Lead-Zinc) Uchucchacua (Silver-Lead-Zinc) Yumpag Julcani Orcopampa Tambomayo La Zanja Coimolache El Brocal (Tajo Norte Smelter - Cu-Ag) El Brocal (Tajo Norte Smelter - Zn-Pb-Ag) El Brocal Marcapunta Cerro Verde (Para molienda) San Gabriel Total Silver Reserves BVN % Shareholding 100.00 100.00 100.00 100.00 40.10 61.43 61.43 100.00 BVN % Shareholding 100.00 100.00 100.00 100.00 100.00 100.00 100.00 40.10 61.43 61.43 61.43 19.58 100.00 DMT (000) oz/DMT 255 303 912 48,536 29,574 25,522 14,934 0.305 0.008 0.087 0.010 0.025 0.007 0.130 Ounces (000) 78 2 79 499 742 181 1,940 3,521 DMT (000) 5,716 4,381 1,335 303 255 912 48,536 25,522 6,119 29,574 4,109,013 14,934 oz/DMT 10.42 7.19 21.01 19.96 0.14 6.33 Ounces (000) 59,577 31,524 28,053 6,045 36 5,774 0.31 0.73 2.81 0.71 0.07 0.21 14,918 18,542 17,199 21,005 243,992 3,087 390,175 BVN Ounces (000) 78 2 79 - 200 456 111 1,940 2,866 BVN Ounces (000) 59,577 31,524 28,053 6,045 36 5,774 - 5,981 11,391 10,565 12,903 47,774 3,087 163,133 BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING WE DO MORE THAN MINING 1515 15 ZINC Uchucchacua/Yumpag (Silver-Lead-Zinc) Uchucchacua (Silver-Lead-Zinc) Yumpag Tambomayo El Brocal (Tajo Norte Smelter - Zn-Pb-Ag) 'Total Zinc Reserves LEAD Uchucchacua/Yumpag (Plata-Plomo-Zinc) Uchucchacua (Plata-Plomo-Zinc) Yumpag Julcani Tambomayo El Brocal (Tajo Norte - Smelter Zn-Pb-Ag ) 'Total Lead Reserves BVN % Shareholding 100.00 100.00 100.00 100.00 61.43 BVN % Shareholding 100.00 100.00 100.00 100.00 100.00 61.43 DMT (000) 5,716 4,381 1,335 912 6,119 DMT (000) 5,716 4,381 1,335 303 912 6,119 % Zn % Pb 1.98 2.30 0.93 1.12 2.51 1.16 1.36 0.49 1.66 0.72 1.17 DMT (000) 113 101 12 10 154 277 DMT (000) 66 60 7 5 7 71 149 BVN DMT (000) 113 101 12 10 94 218 BVN DMT (000) 66 60 7 5 7 44 122 ANNEXES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING 16 COPPER Julcani El Brocal Marcapunta El Brocal (Tajo Norte Smelter - Cu-Ag) Trapiche Cerro Verde (for milling) Cerro Verde (for leaching) Total Copper Reserves MOLYBDENUM Cerro Verde (for milling) Total Molybdenum Reserves BVN % Shareholding 100.00 61.43 61.43 100.00 19.58 19.58 BVN % Shareholding 19.58 DMT (000) % Cu DMT (000) DMT (000) BVN 303 29,574 25,522 283,200 4,109,013 125,599 0.52 1.28 1.73 0.51 0.35% 0.27% 2 379 442 1,444 14,391 336 16,993 2 233 273 1,444 2,818 66 4,835 BVN DMT (000) % Mo DMT (000) DMT (000) 4,109,013 4,109,013 0.01% 580 580 114 114 Prices used for the calculation of reserves: Gold 1800 US$/oz; Silver 22.00 US$/oz; Lead 2100 US$/MT; Zinc 3000 US$/MT; and Copper 8000 US$/MT ANNEXES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGCHART N°3 RESERVES AS OF DECEMBER 31, 2021 GOLD BVN % 17 BVN Orcopampa Julcani Tambomayo La Zanja Coimolache El Brocal Marcapunta El Brocal (Tajo Norte Smelter - Cu-Ag) San Gabriel Total Gold Reserves Shareholding DMT (000) oz/DMT Ounces (000) Ounces (000) 100.00 100.00 100.00 100.00 40.10 61.43 61.43 100.00 517 293 1,388 8,364 65,454 32,485 26,347 14,934 0.301 0.004 0.097 0.011 0.010 0.025 0.007 0.130 156 1 134 91 626 804 185 1,940 3,937 156 1 134 91 251 494 114 1,940 3,181 SILVER BVN % BVN Shareholding DMT (000) oz/DMT Ounces (000) Ounces (000) Uchucchacua/Yumpaq (Silver-Lead-Zinc) Julcani Orcopampa Tambomayo La Zanja Coimolache El Brocal (Tajo Norte Smelter - Cu-Ag) El Brocal (Tajo Norte Smelter - Zn-Pb-Ag) El Brocal Marcapunta Cerro Verde (for milling) San Gabriel Total Silver Reserves 100.00 100.00 100.00 100.00 100.00 40.10 61.43 61.43 61.43 19.58 100.00 6,119 293 517 1,388 8,364 65,454 26,347 8,207 32,485 3,888,327 14,934 10.28 19.46 0.57 5.21 0.11 0.27 0.73 2.95 0.72 0.07 0.21 62,895 5,709 295 7,235 915 17,719 19,133 24,196 23,262 241,503 3,087 405,948 62,895 5,709 295 7,235 915 7,104 11,753 14,864 14,290 47,286 3,087 175,433 ANNEXES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING18 ZINC BVN % BVN Shareholding DMT (000) % Zn FMT (000) FMT (000) Uchucchacua/Yumpaq (Silver-Lead-Zinc) Tambomayo El Brocal (Tajo Norte Smelter - Zn-Pb-Ag) Total Zinc Reserves 100.00 100.00 61.43 6,119 1,388 8,207 1.89% 1.41% 2.15% 116 20 176 311 LEAD BVN % BVN Shareholding DMT (000) % Pb FMT (000) FMT (000) Uchucchacua/Yumpaq (Plata-Plomo-Zinc) Julcani Tambomayo El Brocal (Tajo Norte - Smelter Zn-Pb-Ag ) Total Lead Reserves 100.00 100.00 100.00 61.43 6,119 293 1,388 8,207 1.11% 1.50% 0.94% 1.09% 68 4 13 90 175 116 20 108 244 68 4 13 55 140 COPPER BVN % BVN Shareholding DMT (000) % Cu FMT (000) FMT (000) Julcani El Brocal Marcapunta El Brocal (Tajo Norte Smelter - Cu-Ag) Trapiche Cerro Verde (for milling) Cerro Verde (for leaching) Total Copper Reserves 100.00 61.43 61.43 100.00 19.58 19.58 293 32,485 26,347 283,200 3,888,327 110,574 0.42% 1.32% 1.70% 0.51% 0.37% 0.33% 1 428 448 1,444 14,226 367 16,916 1 263 276 1,444 2,786 72 4,841 ANNEXES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING19 MOLYBDENUM BVN % BVN Cerro Verde (for milling) Total Molybdenum Reserves Shareholding DMT (000) % Mo FMT (000) FMT (000) 19.58 3,888,327 0.015% 571 571.0187282 112 112 Prices used for the calculation of reserves: Gold 1600 US$/oz; Silver 25.00 US$/oz; Zinc 2385 US$/TM; Lead 2286 US$/TM; and Copper 8000 US$/TM Chart N° 4 MINERAL OUT OF RESERVES AS OF DECEMBER 31, 2022 Mineral out of reserves (Measured + Indicated Resources) GOLD BVN % BVN Shareholding DMT (000) oz/DMT Ounces (000) Ounces (000) Orcopampa Julcani Tambomayo La Zanja Alejandra (La Zanja) Coimolache - Óxidos El Brocal Marcapunta El Brocal (Tajo Norte Smelter - Cu-Ag) San Gabriel Trapiche Total Gold Resources 100.00 100.00 100.00 100.00 100.00 40.10 61.43 61.43 100.00 100.00 343 139 508 11,267 123 17,439 30,119 1,109 24,863 653,810 0.29 0.01 0.09 0.01 0.70 0.01 0.028 0.004 0.07 0.00 99 1 46 132 86 157 853 4 1,684 611 3,673 99 1 46 132 86 63 524 3 1,684 611 3,248 ANNEXES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING 20 SILVER BVN % BVN Shareholding DMT (000) Oz/DMT Ounces (000) Ounces (000) Orcopampa Uchucchacua/Yumpaq (Plata - Plomo - Zinc) Julcani Tambomayo La Zanja Alejandra (La Zanja) Coimolache - Óxidos El Brocal (Tajo Norte Smelter - Cu-Ag) El Brocal (Tajo Norte Smelter - Zn-Pb-Ag) El Brocal Marcapunta El Brocal (San Gregorio) San Gabriel Trapiche Total Silver Resources 100.00 100.00 100.00 100.00 100.00 100.00 40.10 61.43 61.43 61.43 61.43 100.00 100.00 343 2,642 139 508 11,267 123 17,439 1,109 3,915 30,119 79,934 24,863 653,810 0.79 9.03 21.01 4.57 0.26 3.73 0.53 0.96 0.58 0.81 0.31 0.27 0.08 271 23,860 2,925 2,322 2,892 459 9,229 1,065 2,271 24,396 24,620 6,762 52,491 153,561 271 23,860 2,925 2,322 2,892 459 3,700 654 1,395 14,986 15,124 6,762 52,491 127,841 ZINC BVN % BVN Shareholding DMT (000) % Zn DMT (000) DMT (000) Uchucchacua/Yumpaq (Silver-Lead-Zinc) Tambomayo El Brocal (Tajo Norte Smelter - Zn-Pb-Ag) El Brocal (San Gregorio) Total Zinc Resources 100.00 100.00 61.43 61.43 2,642 508 3,915 79,934 1.66% 1.63% 3.36% 5.22% 44 8 132 4,175 4,359 44 8 81 2,565 2,698 ANNEXES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING21 LEAD BVN % BVN Shareholding DMT (000) % Pb DMT (000) DMT (000) Uchucchacua/Yumpaq (Silver-Lead-Zinc) Julcani Tambomayo El Brocal (Tajo Norte Smelter - Zn-Pb-Ag) El Brocal (San Gregorio ) Total Lead Resources 100.00 100.00 100.00 61.43 61.43 2,642 139 508 3,915 79,934 0.99% 0.63% 0.98% 0.92% 1.53% 26 1 5 36 1,221 1,289 26 1 5 22 750 804 COPPER BVN % BVN Shareholding DMT (000) % Cu DMT (000) DMT (000) Julcani Trapiche El Brocal Marcapunta El Brocal (Tajo Norte Smelter - Cu-Ag) Total Copper Resources 100.00 100.00 61.43 61.43 139 653,810 30,119 1,109 0.47% 0.32% 1.61% 1.73% 1 2087 485 19 2,592 1 2,087 298 12 2,397 Prices used for the calculation of resources: Gold 1800 US$/oz; Silver 22.00 US$/oz; and Copper 8000 US$/MT ANNEXES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGWE DO MORE THAN MINING 22 22 CHART N° 5 PRODUCTION SUMMARY 2022 % Share 100% 100% 100% 100% 61.43% 100.00% 40.10% TOTAL PRODUCTION Ag Oz 1,863,411 32,124 - 2,640,689 3,556,829 105,435 296,968 8,495,456 Au Oz 54,320 74,478 - 197 23,359 29,616 82,408 264,378 Pb DMT 10,290 - - 530 6,791 - - 17,610 Zn DMT Cu DMT 13,511 - - - 23,359 - - 36,869 - - - 232.53 47,352 - - 47,585 Tambomayo Orcopampa Uchucchacua Julcani El Brocal La Zanja Coimolache Total content PRODUCTION ATTRIBUTABLE TO BUENAVENTURA Ag Oz 1,863,411 32,124 - 2,640,689 2,184,960 105,435 119,069 6,945,689 Au Oz 54,320 74,478 - 197 14,350 29,616 33,041 206,002 Pb DMT Zn DMT Cu DMT 10,290 - - 530 4,172 - - 14,991 13,511 - - - 14,349 - - 27,860 - - - 233 29,088 - - 29,321 Tambomayo Orcopampa Uchucchacua Julcani El Brocal La Zanja Coimolache Total content ANNEXES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGBuenaventura INTEGRATED ANNUAL REPORT 2022 SHARES AND ADRS BEHAVIOR WE DO MORE THAN MINING 2323 ADS QUOTATION US$ TC Opening Closure Maximum Minimum Average MONTH Opening Closure Maximum Minimum Average US$ S/. US$ S/. US$ S/. US$ S/. US$ S/. 7.36 8.10 9.97 29.43 31.15 37.48 10.25 37.94 8.94 34.31 8.75 32.44 6.50 24.90 5.65 22.18 5.17 19.89 6.90 7.00 27.49 27.95 8.05 30.98 9.05 34.99 7.08 28.07 8.10 31.19 9.85 37.07 10.04 38.00 7.32 28.26 9.04 34.02 10.02 37.35 12.25 45.95 9.84 36.64 10.64 39.67 9.44 8.69 6.66 5.95 5.26 6.62 6.95 8.19 36.36 32.01 25.23 23.33 20.19 26.29 27.65 31.51 11.25 42.03 8.73 33.30 9.97 38.40 9.80 37.71 6.87 26.02 8.33 30.68 9.42 6.82 6.10 35.10 26.12 23.72 6.59 24.96 7.59 28.75 5.68 22.48 6.11 23.96 5.25 20.25 5.53 21.22 7.17 28.47 5.15 19.81 6.21 24.66 7.24 28.71 6.20 24.70 6.85 27.25 8.32 32.00 6.40 25.45 7.55 29.04 8.21 31.64 7.49 28.60 8.35 32.18 7.23 27.86 7.85 29.97 January February March April May June July August September October November December 4.00 3.85 3.76 3.70 3.84 3.71 3.83 3.93 3.85 3.98 3.99 3.85 3.85 3.76 3.73 3.85 3.68 3.79 3.92 3.84 3.97 3.98 3.85 3.82 3.87 3.79 3.75 3.74 3.85 3.73 3.83 3.89 3.97 3.97 3.85 3.85 3.97 3.86 3.72 3.82 3.79 3.79 3.96 3.86 3.85 3.98 3.98 3.85 3.85 3.76 3.73 3.85 3.68 3.79 3.92 3.84 3.97 3.98 3.85 3.82 MONTH January February March April May June July August September October November December ANNEXES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGBuenaventura INTEGRATED ANNUAL REPORT 2022 WE DO MORE THAN MINING 2424 Buenaventura Common (S/) Buenaventura Investment (S/) SHARE QUOTATION Mes Opening Closure Maximum Minimum Average Mes Opening Closure Maximum Minimum Average 33.00 33.20 36.60 41.00 34.26 30.12 25.00 23.50 -- -- -- 33.50 36.60 40.00 41.00 34.26 27.00 23.50 21.65 -- -- -- 33.50 36.90 40.00 41.00 34.26 30.12 25.00 23.50 -- -- -- 33.00 33.20 36.60 41.00 34.26 27.00 23.50 21.65 -- -- -- 33.45 34.57 38.28 41.00 33.75 28.08 24.17 22.74 21.65 -- -- 30.00 27.90 30.00 27.90 29.45 January February March April May June July August September October November December -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 15.85 -- -- -- -- -- -- -- -- -- January February March April May June July August September October November December a. ADRs NEW YORK ADR PROGRAMS, 2022 During 2022, the ADRs program of the New York Stock Exchange (NYSE) achieved a trading volume of US$ 2,854,610,378 (371,512,737 ADS). Also, as of December 31, 2022, there were 221,291,131 ADS outstanding, representing 80.50% of the company’s total shares outstanding. b. Corporate Affairs As of December 31, 2022, we had 980 common shareholders. Of those, 18.217% correspond to shareholders residing in the country and 81.783% to non-residents. Likewise, we had 890 shareholders holding investment shares. Lima, January of 2023 ANNEXES Lima, January of 2023 BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING2525 CAREER OF BOARD MEMBERS ROQUE BENAVIDES, CHAIRMAN OF THE BOARD Civil Engineer from Pontificia Universidad Católica del Perú with a Master’s Degree in Business Administration from Henley, University of Reading, United Kingdom. He completed the Management Development Program at Harvard Business School, United States, and the Advanced Management Program at Templeton College, University of Oxford, United Kingdom. He has worked at Buenaventura since 1977, and is Director of Sociedad Minera El Brocal and Banco de Crédito del Peru (BCP). He served as President of the National Confederation of Private Business Institutions (CONFIEP, in Spanish) for two periods, the last of which was completed in February 2019. He has also been President of the National Society of Mining, Petroleum and Energy (SNMPE). He is Dean of the Lima Departmental Council of the Peruvian Association of Engineers for the period 2022-2024, President of the Board of Trustees of Universidad Nacional de Ingeniería (UNI) since 2020, and was President of the Peruvian Institute of Economics (IPE). He is also President of the Institute of Mining Safety (ISEM, in Spanish) and is a member of the Fulbright Commission in Peru since 2019. ANNEXES FELIPE ORTIZ DE ZEVALLOS, DIRECTOR Industrial Engineer from UNI, Master’s Degree in Business Administration by the University of Rochester, graduate of the OPM Program at Harvard University School of Business. In addition to being an executive member of various academic, business, cultural and social institutions, he is founder and President of APOYO since 1977. He was Senior Professor and Rector of Universidad del Pacífico (2004-2006), Ambassador of Peru to the US (2006-2009), and President of Asociación Civil Transparencia. He received the IPAE award in 1990 WILLIAM CHAMPION, DIRECTOR Bachelor’s degree in Chemical Engineering and Biology from the University of Arizona. He has been a member of the Board of Directors since January 2016. He is also a Director of US-based Peabody Energy, a producer of thermal and metallurgical coal. More than 40 years of executive, managerial and operational experience in the mining sector. He worked at Rio Tinto PLC from 2002 to 2014, holding various positions: Managing Director of Rio Tinto Coal Australia, Managing Director of Rio Tinto Diamonds and President and CEO of Kennecott Utah Copper. He also worked at Phelps Dodge Mining Company from 1984 to 1995, where he held various positions (President of Phelps Dodge Chile) DIEGO DE LA TORRE, DIRECTOR Bachelor’s Degree in Business Administration from the Universidad del Pacífico in Lima, and MBA from London Business School, England. He has also taken part of the leadership program of Georgetown University and the immersion program in Silicon Valley of San Francisco University. He is co-founder and Chairman of the Board of Directors of La Viga, Quikrete Peru, Aleteia Capital and Bodega RAS. Member of the advisory board of the David Rockefeller Center for Latin American Studies at Harvard University and the international council of CEAPI in Madrid. He has been professor at Universidad del Pacífico and director of PPX Mining, Endeavor Peru, IPAE, IPE, CAPECO, Museum of Art of Lima, and Peru 2021. He was Chairman of the United Nations Global Compact in Peru, from 2005 to 2021. In 2013 he received the “Integral Entrepreneur” award from the Latin American Business Council (CEAL). Selected among the Top 100 Leaders by AACSB International, among other awards. He is Director of Buenaventura since 2017. BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGWE DO MORE THAN MINING WE DO MORE THAN MINING 26 2626 NICOLE BERNEX, DIRECTOR She holds a Ph.D. in Geography (1975) and a Master’s Degree in Geography (1971) by the Université Paul-Valéry, Montpellier, France. She has been a professor in the Department of Humanities of Pontificia Universidad Católica del Perú (PUCP) since 1984. She was founder and academic director of the Center for Research in Applied Geography (CIGA-PUCP) from 1984 to 2018, and founder and director of the Institute of Environmental Studies (IDEA-PUCP) from 1994 to 1998. Member of the Technical Committee of Global Water Partnership (2014-2017). Emeritus President of Global Water Partnership Peru and Emeritus President of the Lima Geographical Society since July of 2022. She was Director for Latin America and the Caribbean of the Scientific Committee of the United Nations Convention to Combat Desertification, coordinator of various research programs and consultant to different international entities (SAP- BM, UNDP, FAO and others). She is currently a member of the boards of directors of 2030 Water Resources Group Peru, AGROMIN, and Asociación Los Andes de Cajamarca – ALAC. Full member and past Vice-President of the National Academy of Sciences - ANC, focal point of Peru in the Inter-American Network of Academies of Sciences (IANAS), she has over 170 publications. She is Director of BVN since January of 2018. MARCO ANTONIO ZALDÍVAR GARCÍA, INDEPENDENT DIRECTOR Chartered Public Accountant from Universidad de Lima, graduated from the PAD Management Development Program at Universidad de Piura, and MBA from Adolfo Ibáñez School of Management, United States. He is Independent Director of Cementos Pacasmayo and Fossal. He has been Independent Director at UCP Backus & Johnston, Banco Santander, among other companies. He has served as Chairman of the Board of Directors of the Lima Stock Exchange (BVL) and Second Vice-Chairman of CONFIEP, among other positions. RAÚL BENAVIDES, DIRECTOR He holds a Bachelor’s Degree in Mining Engineering by the Missouri-Rolla University. He holds a Master’s Degree in Mining Administration by Pennsylvania State University and completed the Advanced Management Program at Harvard Business School (AMP- 160). He has been President of the Institute of Mining Engineers of Peru (IIMP) and the Mining Convention (Perumin). He is also founder and President of the Institute of Mining Safety (ISEM). He is currently President of CETEMIN, technical mining school. He has worked at Buenaventura since 1980 and is a director of 11 associated companies. He joined the Board of Directors of the company in March of 2021.marzo, 2021. CAREER OF THE MEMBERS OF THE GENERAL MANAGEMENT AND VICE-PRESIDENCY LEANDRO GARCÍA, CEO – GENERAL MANAGER He holds a Bachelor’s Degree in Business Administration and Accounting from Universidad del Pacífico and a Master’s Degree in Business Administration from the University of Miami, Florida. He completed the Advanced Management Program at Harvard Business School, in the United States, in 2017. He worked at Buenaventura from 1990 to 1997 as Head of Treasury and served as Finance Manager of Sociedad Minera El Brocal until 2000. In 2011, he rejoined the company as Comptroller General and, in 2017, he became Vice-President of Finance and Administration. He was appointed CEO- General Manager of Buenaventura in September of 2020. He is also General Manager of Sociedad Minera El Brocal. ANNEXES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING 27 He was General Manager of Consorcio Energético de Huancavelica (Conenhua) and Empresa de Currently, he is Director of Compañía Minera Coimolache, Compañía Minera Colquirrumi, Compañía Minera Condesa, Consorcio Energético de Huancavelica (Conenhua), CONTACTO Corredores de Seguros, Empresa de Generación Huanza, Procesadora Industrial Río Seco and Sociedad Minera El Brocal, as well as Alternate Director of Sociedad Minera Cerro Verde, and member of the Yanacocha Executive Committee. DANIEL DOMÍNGUEZ, VICE-PRESIDENT, FINANCE AND ADMINISTRATION He holds a Bachelor’s Degree in Economics by Universidad del Pacífico and a Master’s Degree in Business Administration by the same university. He successfully completed the General Management Program at Harvard Business School in 2015, and the Corporate Finance Program at London Business School in 2010. He joined Buenaventura 20 years ago, having started his career at INMINSUR (former subsidiary company) as Head of Treasury. He was then transferred to Buenaventura, where he held various positions, such as Head of Treasury, from 2003 to 2012; Director of Treasury and Financial Planning, from 2012 to 2015; Manager of Financial Planning and Investor Relations, from 2016 to 2017; and Logistics Manager, from 2017 to 2020. JUAN CARLOS ORTIZ, VICE-PRESIDENT, OPERATIONS Mining Engineer from Pontificia Universidad Católica del Perú (1992), with a Master’s Degree in Engineering by Pennsylvania State University, United States, and a major in Mining Engineering Management. Before Buenaventura, he had served as Technical Central Manager of Compañía Minera Volcan, a polymetallic mining company and one of the largest producers of zinc, lead and silver in the world. Previously, he had been Corporate Operations Manager at Compañía Minera Milpo (now part of Nexa Resources Group), where he was in charge of operations at Cerro Lindo, Atacocha, and El Porvenir. During his professional development he has served in different operations and project management positions in Latin America. He is currently Director of the Institute of Mining Engineers of Peru. ALDO MASSA, VICE-PRESIDENT, BUSINESS DEVELOPMENT AND COMMERCIALIZATION He holds a degree in Business Administration from Universidad de Lima and an MBA from Universidad del Pacífico. He has more than 26 years of experience in the mining sector. He was Corporate Commercial Director for Peru, Mexico, United States and Spain at Southern Copper Corporation (Grupo México). ALEJANDRO HERMOZA, VICEPRESIDENTE DE SOSTENIBILIDAD Mechanical engineer from the University of Maryland, he holds a Master’s Degree in Engineering by the same university and a Master’s Degree in Administration by Universidad Peruana de Ciencias Aplicadas – UPC. He served as Development Manager at the National Confederation of Private Business Institutions (CONFIEP) and works at Buenaventura since 2003 where he has held the positions of Community Relations Manager, from 2008 to 2011; Assistant Manager of Administration and Human Resources, from 2003 to 2008; and Vice-President of Sustainability, from 2008 to date. He has been an alternate member of the Yanacocha Executive Committee since 2014. In 2011 he graduated from the Advanced Management Program at Harvard Business School (AMP). ANNEXES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING MEMBERS OF THE MANAGEMENT 28 MANAGEMENT Roque Benavides G Raúl Benavides G. Leandro García R. Juan Carlos Ortiz Zevallos Alejandro Hermoza M. Daniel Domínguez V. Aldo Massa Peschiera Thiago Nantes T. Percy Ponce B. Gary Chircca Ayesta Fernando Ortiz De Zevallos M. Cecilia Puga Buse Juan Buhytron Q. Pedro Torres T. Luz Campodónico A. José Malca La Fuente Gulnara La Rosa R. Gulnara La Rosa R. Ana María Rivera C. Renzo Macher C. Juan Carlos Salazar C. Percy Montoya Vargas Tomas Chaparro D. ANNEXES Chief Executive Officer Member of the Board of Directors (replacing JMMorales) General Manager Vice-President of Operations Vice-President of Sustainability Vice-President of Finance and Administration Vice-President of Business Development and Commercialization Manager of Technical Services Manager of Metallurgy and Business Development Operations Management Manager Logistics Manager Financial Manager IT and Communications Manager Accounting Manager Internal Audit Manager Human Resources Management Legal Manager Legal and Compliance Manager Social Affairs Manager Project Manager Geology and Exploration Manager Environmental Management Manager Safety Manager Since 03/25/2011 Since 01/01/2021 Since 09/01/2020 Since 05/01/2018 Since 05/01/2011 Since 09/01/2020 Since 01/01/2021 Since 01/01/2021 Since 01/01/2021 Since 01/15/2021 Since 10/01/2020 Since 09/01/2020 Since 01/01/2020 Since 06/01/2022 Since 05/01/2021 Since 09/01/2017 Since 03/01/2020 Since 03/01/2020 Since 07/19/2017 until 05/31/2022 BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGLIMA Juan Ayala López Kellyn Cristóbal Paredes Neil Mendoza Hoyos Jorge Villanueva Samar Miguel Infantes Quijano José Gutiérrez Ramírez Rubén Fernández Soto Fernando Zeballos Zeballos Pedro Navarro Bayona Fredy Oscategui Salazar Julio Velasquez Miñan Jorge Falla Cordero Rosemarie Boltan Atoche Pablo Valladares Hernández Ronald Gallardo G. José Luis Aquino Aquino Luis Fernández De Paredes Robles Rolando Ligarda C. César Calderón Tipiani Miguel Diaz Romero Augusto Bejarano Vásquez Guillermo Chang Chag Fernando Mayor Najera Guillermo Shoof A. Roger Velasquez Rosales ANNEXES Process Manager Planning Manager Asset Management Reliability Director Project Control Director Project Development Director Modeling and Resources Director Planning and Project Control Director Metallurgical Projects Director Safety Director Safety Director Safety Director Permits and Obligations Director Director of Environmental Management - Operations Director of Environmental Management - Support Technical Director for Environment and Mine Closure Geology Director Director of Regional Exploration Director of Regional Exploration Director of Regional Exploration Financial Accounting Director Tax Accounting Director Financial Audit and Process Director Director of Compliance Audit and Investigation Legal Director Costs and Budget Director Since 04/01/2019 Since 12/01/2019 Since 02/01/2018 Since 05/01/2020 Since 07/06/2020 Since 08/01/2020 Since 06/11/2021 Since 05/08/2020 Since 10/15/2018 Since 08/01/2017 Since 07/05/2021 Since 01/01/2020 Since 10/03/2016 Since 07/01/2018 Since 07/01/2021 Since 01/01/2018 Since 06/01/2020 29 until 07/31/2022 - termination until 01/31/2022 - termination BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MININGRossi Marie Montalvo S. Juan Martin Chávez L. Rafael Guillen Llerena Juan Carlos Vargas Byrne Silvia Vicente León Gustavo Bazalar Herrera Juan Pablo Zoeger La Hoz Carlos Claux Mora Max Meneses Gálvez UCHUCCHACUA José Luis Alcalá Valencia Gilmar Valenzuela Salazar César Carrasco Loayza Henry Arcos Romucho Giovani Loayza Montenegro Edwin Arias Celis Heider Montoya Espinoza Antonio Blanco Quiroga Orlando Olarte Olivas Marcial Quispe Nina Vladimir Pinto Choque Freddy Soto Mori César Rondinelli Zaga Héctor Quispe Ramos Angel Francia Meza Washington Ccahua Q. ANNEXES Director of Service Procurement and Contract Administration Materials and Assets Procurement Director Logistics Director Director of Labor Relations and Personnel Administration ICT Information Systems Director Director of ICT Safety and Infrastructure Director of Human Development and Management Social Responsibility and Development Director Social Management Director Unit Manager Unit Manager Environmental Management Superintendent Environmental Management Superintendent Plant Superintendent Geology Superintendent Mine Superintendent Mine Superintendent Planning Superintendent Planning Superintendent Project Superintendent Safety Superintendent Superintendent of Social Affairs Administration Superintendent Human Resources Superintendent Accountant - Unit Since 10/01/2019 Since 09/01/2018 Since 09/01/2018 Since 03/01/2022 Since 01/01/2022 Since 06/01/2019 Since 03/01/2022 Since 08/14/2017 Since 03/01/2022 Since 01/27/2021 Since 10/01/2021 Since 05/01/2019 Since 05/01/2022 Since 11/01/2019 Since 10/18/2022 Since 01/01/2021 Since 05/01/2021 Since 02/01/2015 Since 08/01/2019 Since 12/01/2021 Since 04/19/2021 30 until 02/02/2022 - termination until 03/14/2022 - termination until 02/28/2022 - transferred to Julcani until 03/07/2022 - transferred to Julcani until 05/13/2022 - termination until 01/6/2022 - transferred to El Brocal BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING MALLAY Santos Silvestre Alfaro Local Coordinator of Social Affairs Since 12/01/2015 31 SHILA Rolando Quispe Vilcahuamán Luis Palomino Alvarado Joel Ccente Alfonzo Abner Suárez Chávez Head of Community Relations Environmental Engineer - Unit Environmental Engineer - Unit Environmental Engineer - Unit ORCOPAMPA Jaime Jiménez Tuse Carlos Camacho Delgado Jimmy Gabriel Espinoza Luis Chang Cavero Mirko Martínez Neira Jano Vásquez Santos Pedro Vizcardo Martínez Percy Quea Díaz Eduardo Molinari Arroyo JULCANI Carlos Camacho Delgado Heider Montoya Espinoza Carlos Montes Moya ANNEXES General Superintendent - Unit General Superintendent - Unit Environmental Management Superintendent Environmental Management Superintendent Mine Superintendent Safety Superintendent Administration Superintendent Human Resources Superintendent Head of Community Relations General Superintendent - Unit General Superintendent - Unit Geology Superintendent Since 12/01/2020 Since 04/18/2018 Since 08/17/2022 Since 10/20/2022 Since 03/01/2021 Since 03/01/2022 Since 10/20/2016 Since 03/23/2022 Since 06/01/2022 Since 06/11/2019 Since 03/15/2021 Since 03/08/2022 until 07/31/2022 - transferred to Tambomayo until 02/28/2022 - transferred to Tambomayo until 12/31/2021 - termination until 09/30/2022 - transferred to Tambomayo until 02/28/2022 - transferred to Orcopampa BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING JULCANI Yackson Enrique Figueroa Cruz Giovani Loayza Montenegro Royer Rodas Sánchez Mirko Martínez Neira Ivan Carhuaz Castro Julio Ugarte L. Marco Molina Rosas Jackson Arriola Céspedes Rommer Mendoza Ramírez Salvador Salazar Zegarra Gerardo Garay Gonzáles TAMBOMAYO Gilmar Valenzuela Salazar Jaime Jiménez Tuse Waldir Guillermo Cisneros Percy Ludeña Untiveros Felipe Gonzales Bernal Antonio Blanco Quiroga Mirko Martínez Neira Fernando Remigio Julián Pedro Escudero Jaimes Fernando Dueñas Aliaga Jano Vásquez Santos Jimmy Gabriel Espinoza ANNEXES Plant Superintendent Plant Superintendent Plant Superintendent Mine Superintendent Superintendent of Social Affairs Environmental Management Superintendent Safety Superintendent Planning and Projects Superintendent Head of Human Resources Head of Administration Head of Administration Unit Manager General Superintendent - Unit Plant Superintendent Maintenance Superintendent Maintenance Superintendent Mine Superintendent Mine Superintendent Geology Superintendent Planning and Engineering Superintendent Safety Superintendent Safety Superintendent Environmental Management Superintendent 32 until 03/31/2022 - termination until 09/15/2022 - termination until 05/31/2022 - transferred to Orcopampa until 02/28/2022 - transferred to San Gabriel until 02/28/2022 - transferred to Uchucchacua until 03/15/2022 - termination until 04/30/2022 - transferred to Uchucchacua until 05/31/2022 - transferred to El Brocal until 12/31/2021 - termination Since 03/01/2022 Since 11/01/2022 Since 09/01/2019 Since 01/01/2021 Since 06/01/2020 Since 09/01/2019 Since 12/01/2019 Since 12/15/2022 Since 03/01/2021 Since 03/01/2022 Since 01/01/2021 Since 01/13/2021 Since 03/07/2022 Since 07/01/2020 Since 06/01/2022 Since 07/16/2021 Since 03/01/2020 Since 11/01/2018 Since 10/01/2022 Since 01/01/2020 BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING Environmental Management Superintendent Superintendent of Social Affairs Administration Superintendent Human Resources Superintendent Project Manager - San Gabriel Engineering and Construction Director Construction Superintendent Environmental Management Superintendent Environmental Management Superintendent Safety Superintendent Safety Engineering Safety Engineering Head of Community Relations Head of Community Relations Head of District Exploration Head of Mine Head of Mine Geology Head of Human Resources Head of Administration - Unit Since 03/23/2022 Since 05/01/2019 Since 01/01/2022 Since 06/21/2022 Since 01/01/2021 Since 04/21/2022 Since 06/01/2022 Since 04/01/2018 Since 10/14/2019 Since 09/01/2019 Since 01/01/2022 Since 06/01/2020 Since 04/01/2019 Since 02/01/2020 Since 04/01/2022 Since 03/01/2022 Luis Chang Cavero Segundo Salazar Silva Pedro Vizcardo Martínez Percy Quea Díaz SAN GABRIEL Ricardo Huancaya Delgado Hugo Soto Montes José Natividad Alvarado Alfredo Angulo S. Sandra Medina Vega Jorge Escobar Cáceres Edgardo Torres Suarez Jackson Durand Liñan Danny Valencia Galván Enver Carhuaz Castro Eduardo Cuellar Bohorquez Huber Usuriaga Najera Javier Rendon López -Torres Victor Camavilca Egoavil Salvador Salazar Zegarra ANNEXES 33 until 03/31/2022 - transferred to Lima until 05/18/2022 - transferred to El Brocal until 12/31/2021 - transferred to Uchucchacua until 04/30/2022 - transferred to La Zanja BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING LA ZANJA Alex Lobo Guillén Manuel Aranda Villar Robinson Paredes Abanto Humberto Núñez Flores Angel Fernández Canchos Roberto Andía Chunga Javier Rendón López La Torre COIMOLACHE Alex Lobo Guillén Jesús Guerra Molina Juan Calizaya Yufra Segundo Velasquez Miranda José Luis Ricaldi Callupe Wilder Ponce Tejada Enrique Romero Graus CONEHUA Carlos Herrera Bullón Mario Borda Camacho Christian Fernández Cruz Fabio Mallqui Ayala Elsa Carbajal Yanac Cesar Cuyubamba D. Ana Lengua Jayo ANNEXES Unit Manager General Superintendent - Unit Plant Superintendent Environmental Management Superintendent Head of Environmental Management - Unit Head of District Exploration Head of Mine Geology Unit Manager General Superintendent - Unit Geology Superintendent Plant Superintendent Mine Superintendent Administration Superintendent Human Resources Superintendent Technical Manager Operations and Maintenance Superintendent Operations Superintendent Engineering Superintendent Head of Environmental Management – Unit Head of Occupational Health and Safety General Head of Administration, Regulation and Business Since 01/01/2021 Since 01/16/2021 Since 12/02/2019 Since 01/05/2022 Since 01/01/2021 Since 01/16/2021 Since 09/01/2018 Since 02/01/2021 Since 08/01/2021 Since 12/01/2021 Since 03/01/2019 Since 11/15/2021 Since 10/01/2022 34 until 05/31/2021 - termination until 05/31/2022 - transferred to El Brocal until 05/31/2022 - termination BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING MOLLE VERDE Rubén Valer Cruces Walter Rondinelli Zaga Julio Ayquipa Tapia Daniel Suasnabar Gines Angel Fernández Canchos Eliott Christian Hidalgo Muñoz RÍO SECO Jaime Díaz Yosa José Luis Lama Manayay Javier Vasquez Delgado Gisela Trujillo Echevarría Sandra Medina Vega Felipe Gonzales Bernal José Vega Gonzáles EL BROCAL Marco Oyanguren Leon Héctor Alzamora Benites Gino Ojeda Moret Cesar Rondinelli Zaga Roger Ccahuana Figueroa Hugo Araoz Zevallos Carlos De La Calle Peñaloza ANNEXES Project Manager Superintendent of Social Affairs Process Project Manager Head of Environmental Management - Unit Head of Environmental Management - Unit Head of Modeling Unit Manager Research and Development Superintendent Human Resources Coordinator - Unit Environment and Safety Coordinator Safety Superintendent General Maintenance Superintendent Head of Plant Process El Brocal Manager Process Manager Administration Superintendent Superintendent of Social Affairs Geology Superintendent Environmental Management Superintendent Electrical Maintenance and Instrumentation Superintendent Since 09/15/2020 Since 11/14/2022 Since 09/01/2022 Since 01/01/2018 Since 09/01/2020 Since 05/17/2022 Since 05/23/2019 Since 10/05/2021 Since 09/01/2020 Since 01/06/2022 35 until 01/04/2022 - transferred to BVN until 04/20/2022 - transferred to BVN until 03/06/2022 - transferred to BVN until 05/08/2022 - transferred to CMC BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING Iván Turco Aliaga Gustavo Salazar Acosta Roque Herrada Villarreal Wilder Cabrera Terán Marco Negron Tunjar Fernando Dueñas Aliaga Percy Ludeña Untiveros Marco Calderón Marmanillo Jesús Guerra Molina Dante Gavidia Cannon Moisés Mascco Cotaquispe Edgard Atencia Daga Jose Sasieta Honores Josué Vílchez Espejo Edwin Ríos Dávila Sergio Gallesi Guanilo Victor Orihuela Vega Electrical Maintenance and Instrumentation Superintendent Planning Superintendent Surface Mine Planning Superintendent Projects Superintendent Safety Superintendent Safety Superintendent Maintenance General Superintendent Mine General Superintendent Mine General Superintendent Optimization Project General Superintendent Plant Maintenance Superintendent Underground Mine Operations Superintendent Operations Superintendent Surface Mine Operations Superintendent Surface Mine Maintenance Planning Superintendent Plant Processes Superintendent Human Resources Superintendent Since 10/03/2022 Since 06/01/2022 Since 03/16/2022 Since 06/01/2022 Since 03/01/2021 Since 06/01/2022 Since 10/22/2021 Since 10/01/2020 36 until 06/11/2022 - transferred to BVN ANNEXES BuenaventuraINTEGRATED ANNUAL REPORT2022WE DO MORE THAN MINING 

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