Compania De Minas Buenaventura Saa · BVL:BUENAVC1
Compania De Minas Buenaventura Saa — Compañía de Minas Buenaventura — Investor Day (February 2026)
33 slides from Compania De Minas Buenaventura Saa's investor day presentation, Feb 18, 2026
Slide 1: Buenaventura Investor Day
Buenaventura Investor Day November 2025
Slide 2: Cautionary Statement
Cautionary Statement This presentation contains certain information that may constitute forward-looking information under applicable U.S. securities legislation, including but not limited to information about costs applicable to sales, general and administrative expenses; production volumes; current
Slide 3: Today's Presenters
Today’s Presenters Leandro García | Chief Executive Officer 25+ years of experience in the mining sector ▪ Has held several positions at Buenaventura and other prominent companies in the sector, such as El Brocal, Boticas BTL & Inkafarma, Química Suiza, CE Huancavelica, Condesa, and Huanza ▪ BSc. in
Slide 4: Buenaventura's Corporate Strategy
Leandro García Buenaventura’s Corporate Strategy
Slide 5: Strategy for 2040
Strategy for 2040 PLACE TOP WORLD-CLASS 50BVN IN THE MINING COMPANIES PLACE BVN IN THE TOP 45 GOLD PRODUCERS TOP 50 TOP 5 SILVER PRODUCERS TOP 25 WORLD-CLASS MINING COMPANIES COPPER PRODUCERS 50% 50% TIER 1 Base Precious ↑30% Metals Metals CONSOLIDATED MINING STANDARD INITIATIVE INVESTMENT REVENUE E
Slide 6: A Strategy for Sustainable Value Creation
: a Strategy for Sustainable Value Creation Delivering long-term value by maximizing asset potential, optimizing operations, and aligning with global trends Focus on assets that deliver enduring value. Keen understanding of global megatrends Cu Ag Cu Au Energy Data Centers Technology & Population Sa
Slide 7: Unlocking Potential
Unlocking Potential Buenaventura’s Roadmap to Sustainable Growth Production1 LOM Operating Strength Driving balanced growth in precious metals and Strategic growth with long life of mine assets Driven by operational excellence and cost efficiency copper by consolidating a portfolio of efficient mine
Slide 8: Strategy for 2040
Strategy for 2040 2 1 3 Organic Growth Organic Growth Inorganic Growth “Full Potential of “Develop world-class “Expand our portfolio our Operations” projects” through strategic vision” 8
Slide 9: Execution
<$500M CAPEX Strategy for 2040 $500M - $1,000M CAPEX >$1,000M CAPEX Cerro Verde Full Potential Advancing Operational Excellence, maximizing productivity & minimizing costs Execution Orcopampa Coimolache Oxides San Gabriel Phase 1 Legacy mines that do not LOM extension, re-leaching, waste dump First
Slide 10: Best-in-class ESG practices support value creation and sustainable development
Best-in-class ESG practices support value creation and sustainable development PEOPLE SOCIAL ENVIRONMENTAL GOVERNANCE Local Workforces Local services Renewable energy Code of Ethics and Conduct SOCIAL 64% of total workers US$ 240M per year 100% Updated in 2025 to reinforce our commitment Solid relat
Slide 11: Permits and environmental management
Permits and environmental management Permits approved Sustainability Solid performance delivering permits and environmental assessments Responsible and solid performance on climate change risks, focused on water, energy, GHG emissions and waste Water resources management (% of recirculation in UG mi
Slide 12: 2026 elections: Why Peru's mining sector remains resilient
2026 elections: Why Peru’s mining sector remains resilient Electoral timeline and potential mining implications A stronger and more stable context than in 2021 • The elections will take place in a first round on April 12, 2026, with a second • Peru enters the 2026 elections with a stronger and more
Slide 13: Core Operations, Value Creation Initiatives, and Update on Key Projects
Juan Carlos Ortiz Buenaventura’s Core Operations, Value Creation Initiatives, and Update on Key Projects
Slide 14: Increasing Gold, Silver, and Copper Reserves Powered by Our Flagship Operations
Driving Growth: Increasing Gold, Silver, and Copper Reserves Powered by Our Flagship Operations 2025 mineral reserves 2% COPPER (Mton-Cu) 35% SILVER (MOz-Ag) GOLD (MOz-Au) 41% 56% 3,3 MOz 44% 183 MOz 63% 59% 2,5 MTon 15 Years LOM1 1 – Considering average metallurgical recovery of 71% and Average ann
Slide 15: Consolidated Production – Forecast
Consolidated Production – Forecast Gold production (k oz) Copper production (k MT) 180 180 180 60 160 57 55 149 53 165 50 50 128 160 160 145 53 48 50 45 112 40 2024 2025E 2026E 2027E 2028E 2029E 2024 2025E 2026E 2027E 2028E 2029E Silver production (M oz) Lead & zinc production (k MT) Lead Zinc 20 20
Slide 16: San Gabriel
San Gabriel Throughput RAMP-UP Plan Cost performance - C1 Cash cost (US$/oz - Au) ROM (k MT) Plant Throughput (ktpd) 3.1 3.1 2,000 2.8 1,700 1,500 1,450 2.0 720 980 1,116 1,116 2024 2025E 2026E 2027E 2028E 2029E 2024 2025E 2026E 2027E 2028E 2029E Gold production (k oz) Value creation initiatives 110
Slide 17: El Brocal
El Brocal N Tajo Norte Exploration highlights , Smelter Explore the southern half of the “Marcapunta Volcanic Center” (MVC) (Ag-Pb-Zn-Cu) + + gravity • Two exploration tunnels are in progress to close the pending 5 kilometers around the MVC. + + + + +(4)Unish Norte anomaly + + + + + + + + + + + + ++
Slide 18: El Brocal
El Brocal Copper production (k MT) Cost performance - C1 Cash cost (US$/MT - Cu) 7,0 00 60 5,964 6,000 57 55 53 6,0 00 5,250 50 50 5,000 5,000 5,000 5,0 00 53 48 50 45 40 4,0 00 3,0 00 2,0 00 2024 2025E 2026E 2027E 2028E 2029E 1,0 00 0 Silver production (M oz) 2024 2025E 2026E 2027E 2028E 2029E 2.1
Slide 19: Uchucchacua & Yumpag
Uchucchacua & Yumpag Exploration Progress Exploration Highlights N Resume district exploration 5km around processing plant Pozo Rico • Northern extension of Ucchuchacua mineralization towards “Pozo Rico” old mine. Ag>Pb,Zn Chonta • Initial geophysics on “Chonta” following Cu-mineralization evidence.
Slide 20: Uchucchacua & Yumpag
Uchucchacua & Yumpag Silver Production – Uchucchacua (M Oz) Cost performance - C1 Cash cost (US$/oz - Ag) 4.0 4.0 14 12.2 12.0 3.7 12 10.0 3.0 10 9.0 9.0 9.0 2.4 2.3 3.0 3.0 8 2.5 2.5 6 2.0 4 2 0 2024 2025E 2026E 2027E 2028E 2029E 2024 2025E 2026E 2027E 2028E 2029E Silver Production – Yumpag (M Oz)
Slide 21: Coimolache
Coimolache Mine production plan (k MT) Cost performance - C1 Cash cost (US$/oz - Au) 16, 000 160 0.0 13,400 1,400 1,400 12,700 13,000 1,238 12,300 14, 000 140 0.0 1,200 1,150 12, 000 120 0.0 1,100 10, 000 9,000 100 0.0 8,0 00 800 .0 4,264 6,0 00 600 .0 4,0 00 400 .0 2,0 00 200 .0 0 0.0 2024 2025E 20
Slide 22: Coimolache
Coimolache Future extraction zones – Development outlook 2026 2027 2028 2029 2030 2031 2032 2033 Mining Oxide Ore Mining Low Grade Ore Mining Mixed Ore Processing Low Grade Stock Piles Re-Leaching PAD Back into the 100k Oz Gold per year due to the approval of all permits required for the Life-Of-Min
Slide 23: Coimolache Sulfides: A Major Copper-Gold Sulfide Opportunity
Coimolache Sulfides: A Major Copper-Gold Sulfide Opportunity Oxide operations at full capacity as the Sulfide Project progresses Project milestones Conceptual study finish 2025 2026 2027 2028 → Tradeoff study Pre-feasibility (UG vs. OP) study finish This is a large-scale copper deposit that will be
Slide 24: Trapiche: Unlocking Value Through a Refined Resource Model
Trapiche: Unlocking Value Through a Refined Resource Model Resource model update Project milestones Additional 2019 EIAd Drilling works Legend approval Completion Leached Zone Oxides Zone 2025 2026 2027 2028 → Mixed Zone Secondary Enrich. Zone Complete Feasibility study Transition Zone Powerline rig
Slide 25: Financial Performance, Outlook and Capital Allocation Strategy
Daniel Domínguez Financial Performance, Outlook and Capital Allocation Strategy
Slide 26: Solid Performance: Growing Revenues and Healthy Margins
Solid Performance: Growing Revenues and Healthy Margins Metal prices: Net revenue (US$ M) Au ($/Oz) Ag ($/Oz) Cu ($/TMF) Zn ($/TMF) Pb ($/TMF) 3,200 35.0 9,500 2,700 1,900 1,800 1,500 1,500 1,500 1,550 1,155 1,600 1,350 1,400 1,400 1,450 2024 2025E 2026E 2027E 2028E 2029E Ebitda1 (US$ M) & Ebitda ma
Slide 27: Strengthening Profitability Through Cost Management
Strengthening Profitability Through Cost Management San Gabriel’s Cash Cost - Gold (US$/oz) El Brocal’s Cash Cost - Copper (US$/MT) 5,964 6,000 2,000 5,250 5,000 5,000 5,000 All-In Sustaining Costs (AISC) (1) 1,700 1,500 1,450 2024 2025E 2026E 2027E 2028E 2029E 2024 2025E 2026E 2027E 2028E 2029E Upc
Slide 28: CAPEX Breakdown: Precision in Mining, Precision in Investments
CAPEX Breakdown: Precision in Mining, Precision in Investments The next years will be marked by strong investments in flagship projects to Capex initiatives drive sustainable growth and cost efficiency. San Gabriel • Tailings storage facility Capex breakdown (US$ M) • Waste dump • Mine development S
Slide 29: Strategic Investment in Cerro Verde: 19.58% Stake
Buenaventura’s Strategic Investment in Cerro Verde: 19.58% Stake in a High-Performing, Long-Life Asset and Stable Dividend Source Revenue (US$ M) & copper production (k MT) EBITDA (US$ M) & EBITDA margin (%) Revenues Cu production EBITDA EBITDA margin 402 442 447 431 57.4% 297 53.3% 48.6% 45.5% 48.9
Slide 30: Strong Cash Flow Generation in the Coming Years
Strong Cash Flow Generation in the Coming Years Metal prices: Au ($/Oz) Ag ($/Oz) Cu ($/TMF) Zn ($/TMF) Pb ($/TMF) The 2027 debt maturity 3,200 35.0 9,500 2,700 1,900 Intensive CAPEX program related to the Hydro Plant to unlock throughput could be refinanced 700 capacity in our flagship 150 2,021 op
Slide 31: Capital Allocation: Operational Stability, Strategic Expansion, and Dividend Payout
Capital Allocation: Operational Stability, Strategic Expansion, and Dividend Payout 2026E 1 Cash US$ 659 M Strong cash position ensuring continuous operations: Minimum liquidity secured with flexibility to capture strategic opportunities Investing to strengthen efficiency and value creation: 2 Susta
Slide 32: Buenaventura: Entering a New Era of Growth and Value Creation
Buenaventura: Entering a New Era of Growth and Value Creation Inorganic Growth Project Diversifying and Commitment strengthening our Development portfolio through to Shareholders Prioritizing high-impact strategic acquisitions projects for sustainable Delivering solid, sustainable long-term growth r
Slide 33: Bucnave NTURA
Bucnave NTURA
Compañía de Minas Buenaventura — Investor Day (February 2026) on 6ix