Results & Outlook BVN LISTED NYSE Compañía de Minas Buenaventura S.A.A. September, 2004

Cautionary Statement This package of presentation materials contains forward-looking information regarding sales and production volumes, cash production costs, general and administrative expenses, capital expenditures, development projects and other matters. Important factors that might cause future results to differ from these projections are described in BVN’S form 20-F filed with the Securities and Exchange Commission.

Buenaventura In precious metals mining in Peru since 1953, having produced Million ounces of silver and 8.2 Million ounces of gold. Among the main gold and silver producers in the world Two growing underground gold mines and the 4th largest silver mine. Aggressive and proven exploration program % stake in Yanacocha, Latin America’s largest gold mine and the most profitable in the world.

Best geological information in Perú. Joint ventures with Newmont, Peñoles, Gold Fields, SPCC, BHP Billiton, Barrick & Meridian Gold. Growing reserves, production, and earnings. Quoted on the Lima Stock Exchange (BUE.LM) since 1971 and NYSE: BVN since Buenaventura

Our Achievements

Increased our Gold & Silver Production Gold (Thousand troy ounces) (1) (2) Silver (Million troy ounces) (1) (1) Equity share of production (2) 43.65% of Yanacocha’s production since

Solid Reserve Base Gold (Million troy ounces) (1) (2) Silver (Million troy ounces) (1) (3) (1) Equity share of reserves (2) 43.65% of Yanacocha’s reserves since 1996 (3) Does not include silver from Yanacocha with a recovery between 10% - 30%

EBITDA including Yanacocha US$ million Improved our Economic Results EBITDA BVN´s operations US$ million Net Income US$ million US$ million Sales Revenue Including Mark to Market variation (FAS 133) Without effect of Mark to Market Value variation

Improved Quartely Economic Results 2Q02 / 2Q03 / 2Q04 EBITDA BVN´s operations US$ million Net Income US$ million Sales Revenue EBITDA including Yanacocha US$ million Including Mark to Market variation (FAS 133) Without effect of Mark to Market Value variation

Improving Shareholders’ Value US$/oz US$ million

To achieve this, it was required:

To maintain Uchucchacua’s production at low cash operating cost Silver (Million troy ounces) US$/oz Ag

Thousand of Oz gold To continue Increasing Orcopampa’s Gold production at low cash operating cost US$/oz Au

Continue Increasing Yanacocha’s Production at low cash operating cost Gold Million ounces U.S.$/oz

U.S.$/oz Au Continue Improving Antapite’s Operation at low cash operating cost Thousand oz of Gold

Solid Yanacocha Reserves Million oz of Gold (1) (1) Minas Conga infill drilling feasibility

–Orcopampa : 5.0 years L.O.M. –Antapite: 4.5 years L.O.M. –Uchucchacua: 6.0 years L.O.M. Expanding mineral resources in our controlling operations

... and we are working on:

Improving Metallurgical processing in Uchucchacua to: –Produce in excess of 10.0 million oz Ag per year, and continue cutting cash operating costs lower than $ 3.00 /oz.

Controlling Orcopampa´s metallurgy to: –Produce 200,000 oz Au per year, controlling cash operating cost at $130/oz. with the new cyanidation plant.

Strategy Focus on precious metals mining in Perú. Remain strong operating company. Upgrade operations and high standards of safety, environment protection & social responsibility. Generate reserves through effective exploration. Pursue acquisitions preferably in South America. Share risks through joint ventures. Long-term hedging policies. Permanent contact with our investors. Commitment to good practices of corporate governance.

Vision To grow shareholder value and contribute to the economic development of Peru by : 1.Responsible and efficient operation of precious metal mines in Latin America; taking into consideration the interests of all stakeholders including local communities. 2.Carefully targeted and well designed exploration and development programs 3.Continued commitment to low cost production and maintenance of position as a main world precious metal producer.

Contact Person : Daniel Domínguez Telephone: (511) BVN LISTED NYSE Continuous Growth and Constant Improvement