|   | (a) | Banco de Crédito del Peru (hereinafter the “Lessor”) |
|--------|-----|-----------------------------------------------------------------------|

|   | (b) | Compañía de Minas Buenaventura S.A.A. (hereinafter the “Guarantor”) |
|--------|-----|-------------------------------------------------------------------------------------------|

|   | (c) | Empresa de Generación de Huanza, S.A. (hereinafter the “Lessee”) |
|--------|-----|-----------------------------------------------------------------------------------|

|   | (d) | Consorcio Energetico Huancavelica S.A. (as owner of real estate properties) |
|--------|-----|-----------------------------------------------------------------------------|

|   | (a) | Lessor must finance the purchase of the assets (consisting mainly of construction materials to construct an energy (electricity) plant, hereinafter the “Assets”) in an amount of US$119,000,000. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Lessor will be the owner of the Assets. |
|--------|-----|-----------------------------------------|

|   | (c) | Lessor must lease to the Lessee for a period of 10 years the Assets. |
|--------|-----|----------------------------------------------------------------------|

|   | (d) | A construction company shall build the Assets in accordance with the terms of a construction agreement. |
|--------|-----|---------------------------------------------------------------------------------------------------------|

----

|   | (a) | A guarantee trust agreement providing for deposit of revenues from the operation of the plant in a trust account. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------|

|   | (b) | A guarantee trust agreement, in which title of (i) the real estate where the plant is going to be built, (ii) concession to build and operate the plant, (iii) capital stock of Lessee, and (iv) any other asset related to the project (except the Assets), must be transferred into the trust estate during the term of the Agreement. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Conditioned Assignment of Rights Agreement, by means of which the Lessee assigns all right and obligations under the construction agreements and services agreements to Lessor in case of default of Lessee. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | During the construction of the electric plant (but before operating the plant), Guarantor is liable for all amounts of money disbursed by the Lessor, and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Once the plant is operating, the Guarantor is liable in an amount equal to 45% of US$119,000,000.00. |
|--------|-----|------------------------------------------------------------------------------------------------------|

|   | (a) | Lessee must obtain all necessary governmental authorization to build the Assets and to operate the electric plant. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------|

|   | (b) | Lessee must obtain the insurance policies described in the Agreement. |
|--------|-----|-----------------------------------------------------------------------|

|   | (c) | Lessee must comply with applicable environmental laws. |
|--------|-----|--------------------------------------------------------|

|   | (a) | Lessee must pay initial installments (Precuotas) during the construction of the Assets every three months. Such initial installments (Precuotas) are equal to interest on the principal disbursed (during the period of construction of the Assets). |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Lessee must pay installments (Cuotas) in the amount and on the dates set forth in the Payment Calendar (Cronograma de Pagos), every three months. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Lessee must pay a balloon payment equal to 45% of US$119,000,000.00 at the end of the lease term, which is expected to be ten years after Lessee has completed construction of the plant. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (d) | Lessee must pay interest to be calculated by the Lessor pursuant to the following: |
|--------|-----|------------------------------------------------------------------------------------|

|   | · | From the date of the first disbursement through six months after the plant is operating, an interest equal to LIBOR + 4%, and |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------|

|   | · | From the date that is six months after the plant is operating, an interest rate equal to LIBOR + 4.10%. |
|--------|--------|---------------------------------------------------------------------------------------------------------|

|   | (e) | The Agreement should be effective until all Lessee’s obligations have been performed and all amounts of money repaid. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------|

----