Buenaventura Announces Fourth Quarter and Twelve Month 2020 Results

Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, today announced results for the fourth quarter (4Q20) and twelve-month (FY20) period ended December 31, 2020. All figures have been prepared in accordance with IFRS (International Financial Reporting Standards) on a non-GAAP basis and are stated in U.S. dollars (US$).

Fourth Quarter 2020 Highlights:

• EBITDA from direct operations reached US$ 59.1 million in 4Q20, compared to US$ 73.9 million reported in 4Q19.
• 4Q20 Adjusted EBITDA including associated companies reached US$ 192.4 million, compared to US$ 183.7 million in 4Q19.
• 4Q20 capital expenditures were US$ 38.0 million, compared to US$ 39.6 million for the same period in 2019.
• 4Q20 net loss of US$ 60.0 million, compared to a net loss of US$ 53.7 million for the same period in 2019.
• The Company´s De-Bottlenecking Program continued to progress at a reduced level during the fourth quarter of 2020. The program focused primarily on Buenaventura’s Tambomayo, Uchucchacua and El Brocal mines during 2020 (please refer to page 6 for related details).
• Buenaventura’s cash position reached US$ 235.4 million for the fourth quarter 2020.
• The Company had no mine-related fatalities during the full year 2020.

Financial Highlights (in millions of US$, except EPS figures):
		4Q20	4Q19	Var	FY20	FY19	Var
	Total Revenues	236.1	235.5	0%	676.5	867.9	-22%
	Operating Profit	-16.4	-8.7	-90%	-81.3	-58.0	-40%
	EBITDA Direct Operations	59.1	73.9	-20%	147.3	202.8