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(2) Includes the Early Tender Premium (as defined below). The Tender Offer will expire at 11:59 p.m., New York City time, on March 1, 2021, or any other date and time to which Volcan extends the Tender Offer (such date and time, as it may be extended, the Expiration Date ), unless earlier terminated.  Holders must validly tender their Notes at or prior to the Expiration Date to be eligible to receive the Tender Offer Consideration (as defined below) for such Notes plus Accrued Interest (as defined below).  Holders must validly tender their Notes at or prior to 5:00 p.m., New York City time, on February 12, 2021 (such date and time, as it may be extended, the

New yorkUnited statesSantiago de surcoRepublic of peruEmpresa administradora cerroManuel olguinMinera chungarExchange commissionLiability management groupSantander investment securities incCayman branchSecurities incLiability management teamCitigroup global markets incGlobal bondholder services corporationTender offer