Buenaventura Comments on call of the General Shareholders’ Meeting

Rhea-AI Summary

Compañia de Minas Buenaventura S.A.A. (BVN) has announced the decision to call a General Shareholders' Meeting to consider the partial amendment of the bylaws to increase the number of directors from seven to nine. This would allow the appointment of two directors proposed by Antofagasta, based on the percentage of its owned shares. The Company believes that Antofagasta's contribution would add value to the Board of Directors due to its experience and knowledge in the mining sector. Buenaventura is Peru’s largest publicly-traded precious and base metals Company, engaged in the exploration, mining development, processing, and trade of gold, silver, and other base metals. The Company currently operates several mines in Peru and owns a significant stake in a Peruvian copper producer. For more information, please contact the Company or visit its website.

LIMA, Peru--(BUSINESS WIRE)-- 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, announces that following the conversations held between representatives of the Company and Antofagasta plc (hereinafter, "Antofagasta"), the Board of Directors of the Company has agreed to call a General Shareholders' Meeting to be held on February 22, 2024, to submit for its consideration the partial amendment of the bylaws to increase the number of directors from seven to nine. This amendment would subsequently allow proposing to the General Shareholders' Meeting the appointment of two directors proposed by Antofagasta, taking into consideration the right it has based on the percentage of its owned shares.

In this regard, the Company considers that Antofagasta's contribution to the Board of Directors would add value to its composition, considering its experience and knowledge in the mining sector.

Buenaventura

Compañía de Minas Buenaventura S.A.A. is Peru’s largest, publicly traded precious and base metals Company and a major holder of mining rights in Peru. The Company is engaged in the exploration, mining development, processing and trade of gold, silver and other base metals via wholly-owned mines and through its participation in joint venture projects. Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Julcani*, Tambomayo*, La Zanja*, El Brocal and Coimolache).

The Company owns 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer (a partnership with Freeport-McMorRan Inc. and Sumitomo Corporation).

For a printed version of the Company’s 2022 Form 20-F, please contact the persons indicated above, or download a PDF format file from the Company’s web site.

(*) Operations wholly owned by Buenaventura

Note on Forward-Looking Statements

This press release may contain forward-looking information (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including those concerning Cerro Verde’s costs and expenses, results of exploration, the continued improving efficiency of operations, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future explorations, development and production, subsidiaries’ plans for capital expenditures, estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect the Company’s view with respect to Cerro Verde’s future financial performance. Actual results could differ materially from those projected in the forward-looking statements as a result of a variety of factors discussed elsewhere in this Press Release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240124628132/en/

Contacts in Lima:

Daniel Dominguez, Chief Financial Officer

(511) 419 2540



Gabriel Salas, Head of Investor Relations

(511) 419 2591 / Gabriel.salas@buenaventura.pe



Company Website: www.buenaventura.com.pe/ir



Contacts in NY:

Barbara Cano

(646) 452 2334

barbara@inspirgroup.com

Source: Compañia de Minas Buenaventura S.A.A.

FAQ

What is the purpose of the General Shareholders' Meeting called by BVN?

The purpose is to consider the partial amendment of the bylaws to increase the number of directors from seven to nine and to propose the appointment of two directors proposed by Antofagasta.

What is Buenaventura's main business?

Buenaventura is engaged in the exploration, mining development, processing, and trade of gold, silver, and other base metals.

What percentage of Sociedad Minera Cerro Verde does BVN own?

BVN owns 19.58% of Sociedad Minera Cerro Verde, a significant Peruvian copper producer.

Where can I find a printed version of BVN's 2022 Form 20-F?

For a printed version of the Company’s 2022 Form 20-F, please contact the Company or download a PDF format file from the Company’s web site.