Exhibit 96.2

CEMENTOS PACASMAYO S.A.A.

Technical Report Summary (TRS)

Virrila Quarry

and

Piura Cement Plant

20-F 229.601 (Item 601)

January 2025

Index

Index of tables

Index of figures

Cementos Pacasmayo S.A.A (CPSAA) is a Peruvian company whose corporate purpose is the production of cement and other products associated with the construction sector. This Technical Report Summary summarizes a Pre-feasibility study of the Virrila quarry and Cement Plant located in the Piura Region, both owned by CPSAA. Cementos Pacasmayo´s qualified persons (QPs) prepared this Report to support disclosure of coquina Resources and Reserves.

The Virrila quarry contains coquina, the main raw material for cement production. This quarry is located in the Sechura district, of Sechura Province, in the Piura Region. There is an access road to this quarry from Lima to Piura. The Piura plant is located in Piura city, and is 192 km from Virrila quarry and 950 Km from Lima.

The quarry is in a temperate and humid climate, with little rainfall, mostly between February and April. Average annual temperatures vary between 17.8 °C and 29.5 °C. The highest temperatures were recorded in January, February, and March, and the lowest in August and September.

In the Piura plant, the climate is predominantly arid and warm, with no rain for most of the year. The average maximum temperature is 31.2 °C, and the minimum is 17.7 °C. When the El Niño phenomenon occurs, there is rainfall, especially between December and June.

The Virrila quarry is a production stage operation on a non-metallic deposit of calcareous material from marine shells that supply raw material to the cement plant in Piura. Cementos Pacasmayo S.A.A owns the mineral deposit.

The Virrila quarry started operations on September 17, 2015. The mining contractor San Martin Contratistas Generales S.A. was in charge of the production from the start of operations until March 14, 2020. The mining contractor Posada Perú S.A.C started operations at the Virrila quarry on September 14, 2020, until December 30, 2021. On January 3, 2022, the mining contractor San Martin Contratistas Generales S.A. was hired for the production of the coquina. The transport the coquina from the Virrila quarry to the Piura plant in in charge of other companies.

During the 2023 period, two mining contractors worked at the Virrilá quarry operations from January to April with San Martin Contratistas Generales S.A. and from October to December with Sechura Ingenieria y Contrucción E.I.R.L.

From May to September 2023, Cantera Virrila stopped operations due to the closure of the road caused by the overflow of the La Niña lagoon provoked by cyclone Yaku. Likewise, the Piura plant stopped its clinker production operations (raw meal milling, coal milling and reception of raw materials) from July to September was to avoid exceeding the strategic inventories (clinker). The cement grinding, receiving (cement additions), packaging and dispatching processes remained active to cover the cement demand. Virrila quarry restarted operations in October.

From January to April 2024, Virrila quarry shipped coquina from its stockpiles to the Piura Plant, the company in charge of loading the material was Peruvian Master. From May to October, Sechura Ingenieria y Contrucción E.I.R.L. was in charge of operations of the quarry. After October the quarry stopped operations according to the 2024 mining plan. Likewise, the Piura plant stopped its clinker production operations (raw meal milling, coal milling and reception of raw materials) from March to May and from November to December was to avoid exceeding the strategic inventories (clinker). The cement grinding, receiving (cement additions), packaging and dispatching processes remained active to cover the cement demand.

Geologically, the study area is in the desert zone of Sechura and has sedimentary rocks from the Recent Quaternary.

It is composed of silty sand deposits with intercalations of medium to fine-grained sands and coquina horizons. Below the recent deposits, there are diagenetic eolian deposits in the sandy matrix with calcareous cement. Below these, there are intercalations of conglomerates with gray diatomites, intercalated with white reef sandstones, corresponding to the Talara Bedrock and the upper levels of the Zapallal Formation.

The Virrila quarry deposit is comprised of coquiniferous portions of the Talara Tablazo that undergo lateral variations in thickness and composition of calcareous remains.

In 2007 and 2008 exploration activities were performed to obtain geological information from the Virrila quarry that would allow the production of coquina.

In 2013, exploration activities were carried out by means of test pits in the best areas of the mining concession.

In 2019, activities and sampling in the operation area were developed to validate the Mineral Reserves in the area of operation and update the inventory.

In 2021, drilling was conducted to confirm Reserves within the operations and to know in more detail the characteristics of the deposit.

In 2022, drilling was conducted to confirm Reserves in the same area that the 2021 campaign.

In 2023, from May to June Cementos Pacasmayo carry out a drilling campaign in order to confirm mineral Reserves of Virrila deposit.

Cementos Pacasmayo S.A.A., through its quality control group, performed quality assurance activities for the samples obtained at the Virrila deposit, applying the quality control plan, protocols, and measures necessary to get information on the coquina samples. Laboratory analyses were performed at the chemical laboratory of Piura plant and were applied for the estimation of Resources and Reserves of the deposit.

The Piura plant’s Quality Assurance and Control Department has implemented a sampling and data verification plan for the following processes: raw material reception, raw mill scale, raw mill grinding, kiln feed, coal scale, coal grinding, preheater, kiln filter, clinkerization, cement grinding, mill scale, cement grinding, cement composting, packaging control, packaging-composting and by-pass.

Likewise, Cementos Pacasmayo S.A.A. has implemented quality assurance, quality control (QAQC) protocols to develop exploration and production activities in the Virrila quarry and in the Piura plant to ensure the quality of the information that is used in the estimation of Mineral Resources and Reserves.

Cementos Pacasmayo has procedures for sample preparation, testing, and information security in its operations. The cement plants and operations have implemented the ISO 9001 standard since 2015. Certification is renewed annually through an external audit.

Concerning geological activities, CPSAA has a data verification unit for the geological database. The main function of this deparment is the verification of data to be used in the estimation of Mineral Resources and Reserves. For the appropriate administration of information, internal protocols have been implemented that are subject to internal audits. The geologic data verification activities include data collection, administration and validation received from internal and external laboratories, data tracking through the confirmation of custody chains and finally, validation of data in the database. CPSAA staff use verified data in developing the Mineral Resources and Reserves model.

The qualified persons followed the defined processes for information flows to support Mineral Resource and Reserve estimation. The qualified person followed the same process as a means of verifying and validating the geologic data. They found that the validated information is congruent in the interpretations of the same, with which the fundamental base geological models were generated for the estimation of the Mineral Resources.

No findings have been found that could invalidate the estimation of the Resources and Reserves of the deposit.

For data verification activities at the cement plant, CPSAA uses the Plan, Do, Check and Act (PDCA) methodology. This is applied to the technical information received from the company’s internal and external customers. The quality control laboratory compares the results with national and international laboratories as part of the verification procedures.

In the author’s opinion, the methodologies used for collecting and processing data at the cement plant are accurate and free of important errors. The information can be used within the models’ construction and estimates for cement production. Considering that the analyses of the main chemical components and physical properties of the raw materials and final products are made in external laboratories, the quality of the information is adequate for preparing mineral Resource and Reserve Estimates.

Cementos Pacasmayo has procedures for developing products at the laboratory level and scaling at the industrial level: its guidelines for preparing, reviewing, insurance, and controlling laboratory test reports. Cementos Pacasmayo has a research and development laboratory located in the Pacasmayo plant to evaluate the technical operations of cement plant and quarry operations.

In order for its operations at the Piura plant to have a representative sample of its raw materials and cement, Cementos Pacasmayo performs the analysis of its samples in its internal Research and Development Laboratory located at the Pacasmayo plant.

A significant percentage of Research and Development activities are focused on evaluating different ratios between clinker-mineral additions providing the best functional characteristics to our products, and balancing the benefits generated for the company. Another objective is to identify other additions that can substitute for clinker: slag, pozzolana, fly ash, calcined clays, etc., to reduce our environmental footprint and the cost of cement production. Based on this work, the laboratory has determined (and confirmed with production estimates) that 1 tonne of coquina yields 0.77 tonnes of clinker and the clinker/cement factor of the main cements with additions is 0.71.

The clinker/cement factor of the cement with additions: ICO and MS (MH) were investigated.

For ICO cement, the clinker/cement factor was reduced by 0.67 (2022), 0.68 (2023) and 0.66 (2024). For MS (MH) cement the clinker/cement factor was 0.69 (2022), 0.70 (2023) and 0.65 (2024).

The Research Laboratory issues technical reports to the operations department following international standards. The operations department evaluates the convenience of implementing the tests industrially and validates what is reported at the laboratory level.

The qualified persons (QPs) developed the estimates coquina Resources and Reserves contained in this technical report summary (TRS). The information from exploration in the previous years has been used for the evaluation, and is the database for the Resources and Reserves model.

The coquina Resources are presented in Table 1. The Resource estimation considered the quality restrictions of coquina received in the Piura plant, limits of the concessions, accessibility to the Resources and legal limits of the mining concessions, relevant economic factors, and modifying factors.

The minimum quality accepted is 48.5% CaO to be used as raw material for cement production. Considering the sales prices of cement at the Piura plant, the economic evaluation used for Resource evaluation is shown in Chapter 19 and uses the same criteria used to estimate Reserves.

Table 1 Mineral Resources (exclusive of Reserves) in the Virrila quarry

For Reserve estimation, the Resources and the quality criteria, modifying factors, and coquina production costs were considered. The economic results are shown in Chapter 19. The mining method used is open pit mining.

Table 2 Ore Reserves in the Virrila quarry

Cementos Pacasmayo S.A.A. is the current owner of the Virrila quarry and is in charge of the coquina´s production. The loading and transport of coquina has been outsourced to contractors, Cementos Pacasmayo S.A.A. supervises the quarry to verify the activities and output according to the requirements of the Cement Plant.

The mining of coquina at the Virrila quarry consider the activities of Stripping, surface mining, stacking, loading for dispatch, weighing and dispatch.

Figure 1 Mining secuence of Virrila quarry

The main equipment used for the production of coquina in the Virrila quarry is a surface miner, front loader and dump truck. Also auxiliary equipment is necessary, including pikup van, tanker truck and other equipment.

The mining plan of the Virrila quarry consider an average annual production of 1.31 million tonnes of coquina for the next 30 years and a stripping rate of 0.39.

Based on the plant requirements and sales projection for the next 30 years, the pit design parameters for the Virrila quarry are maximum pit height, maximum bench height and pit bank slope.

Cement production considers the stages of raw material extraction, raw material grinding and homogenization, clinkerization, cement grinding, silo storage and packaging, loading, and transportation. Cement is moved through pneumatic conveyors to bagging systems to be packed in bags and then loaded onto trucks operated by third parties for distribution.

Figure 2 Piura plant process block diagram

The raw materials for cement production are coquina, sand, iron, clay, and coal. The mixture of these raw materials is the ground material called raw meal, which is fed to the calcining kiln to produce clinker. Coquina represents 84% by weight of the raw meal.

Clinker and additions are used to produce cement. The additions used in cement production are slag, pozzolana, shale, and gypsum.

Currently, the Piura cement plant has a clinker/cement ratio of 0.71.

The Piura plant has an electrical substation of 37.50 MW and uses electricity supplied from the national grid.

Cementos Pacasmayo has implemented a preventive and corrective maintenance plan to prevent interruptions in cement production.

Cementos Pacasmayo maintains operating efficiency to control costs and operating margins, and has initiatives to diversify energy sources and secure supply when possible.

The Peruvian cement market is geographically segmented by region: northern region, central region, and southern region, and each area is served by several companies, most of which are cement producers.

The main companies that supply the Peruvian cement market are Cementos Pacasmayo, UNACEM, and Cemento Yura. Some companies import cement or clinker, such as Cemento Inka, Cemento Nacional and Cemex, among others.

Companies that market cement in Peru follow the Peruvian Technical Standards associated with cement technical specifications.

Portland cement is subdivided into Type I and Type V cement. Portland Cement is subdivided into Type ICO, Type IL, Type IP, and Type I (PM); and finally, Hydraulic Cements specified by performance are Type GU, Type MS (MH), Type HS, Type HE, Type MH, and Type LH.

Cementos Pacasmayo, being the leading company in the production and sale of cement in the Northern Region, has a market share in the following cities: Cajamarca, Chiclayo, Chimbote, Jaén, Pacasmayo, Piura, Rioja, Tarapoto, Trujillo, Tumbes, Yurimaguas and Iquitos. Cementos Pacasmayo also has a market share of 92.1% in the country’s northern region.

Annual cement deliveries nationwide for the year 2024 reached 12.0 million tons, while total cement deliveries of Piura plant for 2024 were 0.8 million tons. The Piura plant serves 27.3% of the cement demand in the country’s Northern Region, and its cement dispatches represent almost 29.7% of the three cement plant’s overall shipments. Table 3 shows the projected demand and price per ton of cement for the next 30 years.

Table 3 Projection of demand and price for the next 30 years

This document presents the cash flow analysis and an economic evaluation of the project based on the current operating costs of the cement plant in Piura. It uses the information on the Virrila quarry for coquina production.

For the Reserves evaluation, the general and macroeconomic assumptions used for the projection of the free/economic cash flows and for the valuation are:

The economic analysis uses the economic assumptions listed in Chapter 19. The main variables considered in the economic model for the sensitivity analysis were cement price, production cost, and Capex. Some of these main assumptions are listed below here.

The free cash flow is constructed for the economic analysis, which does not incorporate the financing structure. The latter is considered in the weighted average cost of capital (WACC) to discount future cash flows. The following financial parameters were calculated:

Table 4 presents the cash flow of the project. The net present value at a discount rate of 10.79% is 1,730 million Soles.

Table 4 Free Cash Flow and valuation

Figures 3 and 4 show the sensitivity analysis, wich shows the influence of changes in prices, OpEx and CapEx on NPV and EIBTDA, respectively.

Figure 3 Sensitivity of Net Present Value (expressed as %)

Figure 4 Sensitivity of EBITDA (expressed as %)

To the north of the Cementos Pacasmayo S.A.A. concession is the Bayovar N° 7 concession owned by Americas Potash Peru S.A. To the east of CPSAA’s concession are concessions Virrila 12, Virrila 19, and Virrila 23 owned by Cementos Pacasmayo S.A.A. To the west are concessions Virrila 6, Virrila 9 and Virrila 14 owned by Cementos Pacasmayo S.A.A. and to the north is concession Virrila 16 owned by Cementos Pacasmayo S.A.A.

Table 5 Resources at the Virrila quarry in millions of tonnes (exclusive of Reserves)

Table 6 Mineral Reserves expressed in millions of tonnes

This technical summary report (TRS) was prepared for Cementos Pacasmayo by qualified persons (QPs), who works for Cementos Pacasmayo, who according to their qualifications and experience, developed the chapters based on their expertise. Likewise, the aforementioned QP’s used the Company information sources, information validated and approved by the competent authorities in Peru, and public information sources. Table 7 indicates the qualified persons who participated in the prepared this document and the chapters and information under their responsibility.

Marco Carrasco, who holds the position of Project Manager of Cementos Pacasmayo, is QP certified by the Mining and Metallurgical Society of America (MMSA) of the United States. He acted as Project Manager, whose primary role was compiled the information received from the QPs of each chapter to have an integrated document. Each QP is responsible for the section they wrote.

This report summarizes the Pre-feasibility study results of the “UEA Virrila” property for the production of coquina using open-pit mining methods. This technical report summary was prepared as an exhibit to support disclosure of Mineral Resources and Reserves by Cementos Pacasmayo. The information is effective December 31, 2024.

The coquina was produced from the UEA Virrila property located in the Sechura district. This property supplies raw material for the Piura plant where cement is produced. The annual limestone production is 1.31 million tonnes per year (Mtpy). This technical report summary estimates Mineral Resources and Reserves according to the regulations published in Securities Exchange Commission (SEC) Form 20-F and under subpart 1300 of Regulation S-K. Actual operating costs have been considered for the estimates and used as a basis for economic projections within the financial analysis.

The report was prepared by the qualified persons listed in Table 7 using available studies and, in some cases (see Chapter 25), relying on information provided by Cementos Pacasmayo, the registrant.

Table 7 List of Cementos Pacasmayo S.A.A. QPs

Unless otherwise indicated in the report, all currencies are in soles and all measurements and units are in the metric system. The UEA Virrila property is represented by Universal Transverse Mercator (UTM) coordinates. Unless otherwise indicated, all coordinates referenced in this report and the accompanying figures, tables, maps, and sections are provided in the WGS84 coordinate system, UTM 17S zone.

The information used is sufficient to allow this TRS to be completed with the level of detail required by Regulation S-K subpart 1300. The information used included exploration results from the various drilling campaigns with the exception of the 2023 campaign, actual information from Cementos Pacasmayo’s operations, information submitted to and approved by the corresponding authorities and public information in organizations specialized in the cement industry. The list of sources of information is presented in Chapter 24 of this report.

The QP’s who developed this document visited the Virrila quarry and the Piura plant as part of their activities for 2024.

Table 8 QP’s field visit

This Technical Report Summary (TRS) updates the previously filed technical report summary for the property. The previously filed TRS is the “Technical Report Summary (TRS), Virrila Quarry and Piura Cement Plant 20-F 229.601”, which was filed as Exhibit 96.2 of the CPSAA’s Annual Report on Form 20-F filed with the SEC on April 29, 2024 (File No. 001-35401).

The quarry is located in Sechura District, Sechura Province, Piura Region. It is located 192 Km from Cementos Pacasmayo S.A.A.’s Piura plant.

The Peruvian State granted the mining right to Cementos Pacasmayo S.A.A. to carry out exploration and production activities that allow non-metallic minerals found in the subsurface through mining concessions.

The mining rights registered with the authority, Instituto Geológico Minero y Metalúrgico (INGEMMET) are as follows Virrila 3, Virrila 4, Virrila 6, Virrila 7, Virrila 8, Virrila 9, Virrila 10, Virrila 11, Virrila 12, Virrila 13, Virrila 14, Virrila 15, Virrila 16, Virrila 17, Virrila 18, Virrila 19, Virrila 20, Virrila 21, Virrila 22, Virrila 23 y Bayovar N° 4. The area of the mining property is 38,226.00 Hectares.

The mining rights (the mining concession title) are granted by INGEMMET of the Energy and Mines Sector through a Presidential Resolution. It is determined to include the mining rights in the Virrila Economic-Administrative Unit (UEA).

On March 31, 2016, by Presidential Resolution No. 0147-2016-INGEMMET/PCD/PM, the competent authority granted to CPSAA the Virrila Economic-Administrative Unit (UEA), with code No. 01-00011-00-U of Cementos Pacasmayo S.A.A. These mining rights included 21 mining concessions.

Table 9 UEA Virrila Concessions

The properties described above were granted by the authority (INGEMMET) from 2000 to 2008. Table 10 shows the UTM central coordinates of the Virrila Economic Administrative Unit (UEA).

Table 10 Central coordinates of the UEA Virrila property

In accordance with this, the Virrila UEA includes twenty-one (21) non-metallic mining rights covering 38,226.00 hectares, in favor of Cementos Pacasmayo S.A.A., owner of said rights; located in the district of Sechura, province of Sechura and department of Piura.

Cementos Pacasmayo S.A.A. complies annually with the payments for the rights to the Virrila concessions.

These payments must be made from the first business day of January to June 30 of each year, CPSAA provides the financial entities in charge of receiving the payments with the SINGLE CODE (see Table 9) of its mining rights, to comply with its obligation.

In the case of Virrila concessions, the payment is equivalent to US$3 per hectare.

Likewise, Cementos Pacasmayo S.A.A. pays royalties to the State as established by the Authority in Law N° 28258 and its amendment N° 29788.

Cementos Pacasmayo S.A.A currently has an agreement with the Fundacion Comunal San Martin de Sechura for the use of the surface land associated with the production area of the Virrila quarry. The area of usufruct, surface and easement rights held by Fundación Comunal San Martín de Sechura is 14,842.800 hectares. Superintendencia Nacional de los Registros Públicos (SUNARP).

Figure 5 UEA Virrila map

The cement plant property is located in the Veintiséis de Octubre District, Piura Province, Piura Region. The Piura plant is located at kilometer 3 of the Piura highway.

The property is shown in Figure 6, and Table 11 shows the UTM coordinates of the center of the circle of the Piura plant:

Table 11 Central coordinates of the Piura cement plant

The area of the property is 42.28 hectares. The property is registered in the National Superintendence of Public Registries (SUNARP) under the registration numbers 11161659 and 11164329 in the registry zone No. I SEDE PIURA, Piura Registry Office.

Cementos Pacasmayo S.A.A. pays taxes to the government as established by the Municipal Authority in the case of the Piura plant.

Figure 6 Piura plant perimeter

This chapter describes the accessibility, climate, local resources and infrastructure for the Virrila quarry and Piura plant. Information obtained from technical and environmental studies.

Topography

The topography of the study area is homogeneous, comprising a flat relief made up of a large plain belonging to the Sechura desert.

Access

There is an access road to this quarry from Lima to Piura. The Piura plant is located in Piura city, and it is located 192 km from Virrila quarry and 950 Km from Lima.

The main access is by land. The journey from Lima to the Virrila quarry is as follows: Lima - Sechura (950 km) for a total of 15 hours.

By air, the route is as follows: Lima - Piura in 1.5 hours flight and an additional 1 hour drive on the Panamerican Highway north.

Climate

The quarry has a temperate and wet climate, with little rainfall, mainly between February and April. Meteorological information was taken at the SENAMHI Chusis station, the closest to the quarry. According to the data from this station, the predominant wind direction is from the S and SE.

From the analysis of the information from 2010-2014, it is evident that there is rainfall in the area in March and April. The months with less precipitation are June, July, August, and September. The month of March has the highest rainfall in the years analyzed, with a monthly total of 54.11 mm.

Temperature

The highest temperature values were recorded in January, February, and March, and the lowest in August and September. Reported temperatures for 2010-2014 were evaluated, showing temperature variations between 17.8 °C and 29.5 °C on average.

Physiography

The quarry area is located in a basin where sedimentation was interrupted by tectonic movements with changes in accumulation styles until the Pliocene.

The lithostratigraphy of the area consists of Cenozoic sedimentary units corresponding to the Tertiary period that are not exposed on the surface and Quaternary deposits (Tablezo Lobitos, Quaternary deposits of ancient alluvial, recent alluvial, coastal, lacustrine, beach and eolian origin).

Other geomorphological units outside the quarry area were identified as the estuary and floodplain.

The degree of slope of the predominant land surface is flat to slightly sloping. According to its formation and dominant material type, the plain landscape is Aeolian and Marine Plain.

Floods and tsunamis form external geodynamics. Earthquakes form internal geodynamics.

Local resources and infraestructure

The quarry personnel is divided into Cementos Pacasmayo S.A.A. personnel and contractor personnel.

The quarry is located 61.7 kilometers from the town of Sechura, which has the resources of a town. Contractor personnel is transported by bus and pickup trucks for supervision personnel.

A powerhouse provides a power supply with a generator set installed.

The Piura plant is located in the province of Piura and region of the same name. The plant is located 192 km from the Virrila quarry.

Topography

The Piura plant area is located on the left bank of the Piura to Paita highway, 3 km from the city of Piura, and has a coastal plain topography, with thick banks of semi-compacted and compacted sands at an average depth of 0.50 m.

Climate

The dry season is from May to December, and the rainy season is from January to April. The highest rainfall occurs in March, reaching a value of 448.4 mm.

The average annual relative humidity has 69.9%; the lowest value of 66.5% was recorded in February and the highest value of 74.4% in June.

Regarding wind speed data, the month with the lowest wind speed is March with 1.9 m/sec, and the month with the highest wind speed is September with 3.3 m/sec. Regarding the data on wind direction, the wind direction is predominantly from south to north.

Physiography

In the study area, the slope of the land is slightly inclined because it is covered by eolian materials made up of light gray silty sands and sands, with loose sands resulting from the transfer of alluvial and fluvial materials by the wind; these are accumulations of sands of variable thickness. It is possible to identify within the plains anthropic areas of recent works. Likewise, it is possible to distinguish the slope phase from flat to slightly inclined (0 - 4 %).

Geomorphology

The geomorphology of the Piura Region is the result of a succession of events related to processes of uplift, subsidence, erosion, sedimentation, and deformation of the materials deposited in the sedimentary basins. This scenario has identified the following geoforms: Ardisols Sands, Tablezos, Coastal Plain, Aeolian Sand Mantos.

Local resources and infrastructure

Personnel at the Piura plant are divided into Cementos Pacasmayo S.A.A. and contractors. Most of the personnel live in the city of Piura and travel to the cement plant in company buses or their own vehicles.

Power is supplied through the national grid. Cementos Pacasmayo has a contract with ENOSA (Electric Company), which provides power through a 60 KV transmission line.

A deep well supplies water to the Piura plant.

Virrila quarry is a coquina quarry mining coquina that is suitable for different types of construction cement; Cementos Pacasmayo S.A.A owns the mineral deposit.

The Virrila quarry started operations on September 17, 2015. Cementos Pacasmayo hired San Martin Contratistas Generales S.A. to be the contractor in charge of production from the start of operations until March 14, 2020.

Due to the Covid-19 pandemic, operations at the Virrila quarry were suspended from March until September 2020.

After the suspension, the mining contractor Posada Perú S.A.C started operations at the Virrila quarry on September 14, 2020, until December 30, 2021.

January 3, 2022, the mining contractor San Martin Contratistas Generales S.A. was hired for the production of the coquina. The transport the coquina from the Virrila quarry to the Piura plant is in charge of TRC and Induamerica companies.

During the 2023 period, two mining contractors worked at the Virrilá quarry operations from January to April with San Martin Contratistas Generales S.A. and from October to December with Sechura Ingenieria y Contrucción E.I.R.L.

In 2023, from May to June Cementos Pacasmayo carry out a drilling campaign in order to confirm Reserves in the zona 2 and zone 4.

From May to September 2023, Virrila quarry stopped operations due to the closure of the road caused by the overflow of the La Niña lagoon provoked by cyclone Yaku. Likewise, the Piura plant stopped its clinker production operations (raw meal milling, coal milling and reception of raw materials) from July to September was to avoid exceeding the strategic inventories (clinker). The cement grinding, receiving (cement additions), packaging and dispatching processes remained active to cover the cement demand. Virrila quarry and Piura plant restarted operations.

From January to April 2024, Virrila quarry shipped coquina from its stockpiles to the Piura Plant, the company in charge of loading the material was Peruvian Master. From May to October, Sechura Ingenieria y Contrucción E.I.R.L. was in charge of operations of the quarry. After October the quarry stopped operations according to the 2024 mining plan. Likewise, the Piura plant stopped its clinker production operations (raw meal milling, coal milling and reception of raw materials) from March to May and from November to December was to avoid exceeding the strategic inventories (clinker). The cement grinding, receiving (cement additions), packaging and dispatching processes remained active to cover the cement demand.

The strata of the district of Sechura, province of Sechura, Piura region, consists of Cenozoic Age sedimentary strata of the Tablazo Talara deposit, Tablazo Lobitos deposit, Eolian deposits, Alluvial deposits and Recent deposits.

The lithostratigraphic units found in the area correspond to Quaternary-Pleistocene deposits (2.58 to 0.129 Ma). Within this category are first the tablazos, then the eolian deposits and old alluvial deposits with little diagenesis. The tablazos were first described by T.O. BOSWORTH (1922) in the Talara - Mancora region and finally followed by the recent deposits.

Table 12 Regional stratigraphic column

Geologically, the study area corresponds to the desert zone of Sechura and is represented by sedimentary materials from the Recent Quaternary.

It is made up of silty sand deposits with intercalations of medium to fine-grained sands and coquina horizons.

Below the recent deposits, there are diagenetic eolian deposits in a sandy matrix with calcareous cement. And underneath these are intercalations of conglomerates with gray diatomites, intercalated with white reef sandstones, corresponding to the Tablazo of Talara and the upper levels of the Zapallal Formation.

Cenozoic - Tertiary (Miocene)

Zapallal Formation (Tm-zas)

This lithostratigraphic unit is an outcrop only in its upper member in the southern and northeastern part of the quarry area. It comprises compact fine sand, coquina with fragments of reef shells, and conglomerate levels of diverse lithology with gravels smaller than 2” in a sandy matrix with little cement.

It is covered by light brown eolian sand, plant remains, and some very scarce remains of calcareous fragments due to erosion of its upper levels.

Cenozoic - Quaternary (Pleistocene)

Talara Tablazo (Qp - tt)

It is a Pleistocene-raised marine terrace. It has a significant extension in the region and constitutes 95% of the total area of the quarry. Its relief is essentially flat, with slight undulations due to wind action and the crossing of small streams, which are activated only during rainy periods. Topographically, this unit develops at an average elevation of 80 meters above sea level, with a slight inclination to the SE. The calcareous deposit of the Virrila quarry is formed by coquiniferous portions of the Tablazo Talara that undergo lateral variations in thickness and composition of calcareous remains.

Cenozoic - Quaternary (Recent)

Aeolian Deposits (Qr - e)

These deposits are accumulations of fine to medium-grained sands transported from their sources of origin by the wind. They occur as small layers or stacks of 1 to 2 meters thick, and are composed of brown silty sand with fragments of reef shells, gravels and remains of roots at the deepest level. At the top, there are gray to dark brown eolian sands with few fragments of shells, reefs, gravels, and roots.

Table 13 Local stratigraphic column of the Virrila quarry

Table 14 shows the characteristics of the deposit.

Table 14 Characteristics of the Virrila deposit

Figure 7 Geological section of the Virrila quarry

During 2007 and 2008, exploration activities were performed to collect geological information from the Virrila quarry.

In 2013, exploration activities were carried out using test pits in the best areas of the concession.

In 2019, activities and sampling in the operation area were developed to validate the reserves in the area of operation and update the inventory.

During 2021, drilling was conducted to confirm Reserves within the operations. The work performed during 2021 aimed to:

The drilling work was supervised by Cementos Pacasmayo S.A.A. personnel and executed by Ram Peru S.A.C. 

Ram Peru S.A.C. executed the diamond drill holes of 10 m depth. The drill holes had a vertical orientation (-90°), and HQ pipe (63, 5 mm) was used.

In 2022, drilling was conducted to confirm Reserves in the same area that the 2021 campaign.

In 2023, drilling campaign was conducted to confirm Reserves in the zone 2 and zone 4. The drilling work was supervised by Cementos Pacasmayo S.A.A. personnel and executed by Ram Peru S.A.C. 

Figure 8 Map of the location of drill holes in the Virrila quarry.

In 2024, Cementos Pacasmayo did not conduct further hydrogeological studies. The last hydrogeological studies were conducted in 2012 and the information was presented in the previously filed TRS titled “Technical Report Summary (TRS), Virrila Quarry and Piura Cement Plant 20-F 229.601”, which was filed as Exhibit 96.2 of the CPSAA’s Annual Report on Form 20-F filed with the SEC on April 28, 2022 (File No. 001-35401).

As stated in the previous TRS, Cementos Pacasmayo hired IENDESA S.A.C to perform a hydrogeological study at the Virrila quarry .The hydrogeological study included the evaluation of 07 Electro Vertical Soundings (SEV).

The results showed that the yields oscillate between 13 to 17 l/s, and the depths range from 134.4 to 271.45 m, indicating the nappe is semi-confined in the Tertiary age sedimentary rocks.

Cementos Pacasmayo did not conduct further geotechnical studies in 2024, The last geotechnical study was conducted 2013 and the information was presented in the previously filed TRS titled “Technical Report Summary (TRS), Virrila Quarry and Piura Cement Plant 20-F 229.601”, which was filed as Exhibit 96.2 of the CPSAA’s Annual Report on Form 20-F filed with the SEC on April 28, 2022 (File No. 001-35401).

As per the previously filed TRS, the geotechnical studies concluded, based on the geotechnical test work that the current slopes at the Virrila quarry are stable for static and pseudo-static loading conditions, with safety factors above the minimum recommended for operating conditions.

This Chapter describes the preparation, analysis and security of the samples used for the geology, quarry and cement plant operations.

Cementos Pacasmayo S.A.A. has implemented international standards in all its operations, such as quarries and plants. The ISO 9001 standard has been implemented and certified since 2015. The certification is renewed annually through an external audit.

The SSOMASIG department (Security, Occupational Health, Environment and Management Systems) is part of the team that determines and gives the necessary support for maintaining the ISO 9001 (Quality). The scope is in all the company’s activities.

The Geology department has protocols for the activities of sample preparation methods, quality control procedures, security and other activities.

Samples obtained from the drill holes are placed in holders to be duly coded, cut, bagged and sent to the laboratory at the Piura plant and are occasionally sent to an external laboratory following the company’s procedures.

Certimin S.A. is used as an external laboratory for chemical analysis. This laboratory has modern facilities for developing mining services associated with the cement industry and technical support in the geochemical field for national and international companies. Certimin S.A. is a Peruvian laboratory certified in ISO 9001, ISO 14001, ISO 45001, NTP-ISO/IEC 17025 Accreditation and membership in ASTM.

For the coquina samples, the laboratory analyses evaluate CaO, MgO, AlO₃, SiO₂, Fe₂O₃ and SO₃. Once received in the laboratory, the properties of the coquina to be used in cement production are analyzed

Cementos Pacasmayo S.A.A., through its Quality Control unit, performed quality assurance procedures for the samples obtained in the Virrila deposit, applying the quality plan, procedures and measures necessary to obtain information from the coquina samples. The laboratory analyses were performed in the chemical laboratory of the Piura plant. The results were used for the estimation of Resources and Reserves of the deposit.

Cementos Pacasmayo S.A.A. has implemented QAQC protocols to develop exploration and production activities in the Virrila quarry to ensure the quality of the information that allows the estimation of Mineral Resources and Reserves in the deposit.

The quality plan implemented by Cementos Pacasmayo for the quarries includes the insertion of blanks, duplicates and standards to control the precision, accuracy, and contamination in the samples (Table 15).

Table 15 Quality Plan of the Virrila quarry

Cementos Pacasmayo S.A.A. has implemented QAQC protocols to develop exploration and production activities in the Virrila quarry to ensure the quality of the information that allows the estimation of Resources and Reserves in the deposit.

During the drilling campaigns, Cementos Pacasmayo S.A.A. had built a core shack where the samples are correctly stored to preserve their quality.

CPSAA provided the necessary materials for the storage and transport of the samples. CPSAA also implemented sampling cards with information on the name of the project, name of the borehole to be sampled, date of sampling, sampling interval, sampling manager, sampling, and type of sample or control sample.

All samples were labeled and a photographic record is available. The photographic record of each sampling bag is made together with the weighing of the sample.

CPSAA implemented chain-of-custody systems to guarantee the physical security of the samples, data and associated records. The traceability of the sample from its generation to its analysis and subsequent conservation of rejects and pulps. At the Virrila quarry, core samples are duly stored in the coreshack.

In the qualified person’s opinion, Cementos Pacasmayo has been complying with the international standards of ISO-9001 (Quality) since 2015 and has implemented Quality Assurance and Quality Control (QAQC). Cementos Pacasmayo S.A.A. has used a QAQC check program comprising blank, standard, and duplicate samples. The actual sample storage areas and procedures are consistent with industry standards.

There is information on sample preparation methods, quality control measures and sample security. These results are accurate and free of significant error. The protocols in the different exploration and production processes strictly comply with local and international best practices.

The sample preparation, security, and analytical procedures used to acquire the data in this report are adequate for use in the construction of the Geological Model, Resource Estimation, and Reserve Estimation.

Cementos Pacasmayo S.A.A. has a quality control plan for each of its operations as part of the corporate quality system.

The quality control plan (PI-CC-D-01) describes the evaluation methods used in the Piura Plant’s quality control laboratory, applied to samples of raw materials such as coquina, sand, clays, and iron ore; in-process products: raw meal, clinker, and cement; active additions: gypsum mineral, pozzolana, slag, and coquina; and finished products such as MS, ICO and Type I packaged cement.

Different analytical methods are applied for the physical and chemical characterization of raw materials, products in-process, and finished products, such as classical tests, X-ray fluorescence tests, X-ray diffractometry tests, potentiometry, among other analytical techniques supported by equipment designed for such specific purposes.

The analytical methods are based on guidelines described in ASTM, NTP (Peruvian Technical Standard), and ISO standards.

The sample preparation consists of the collection and preparation of samples. The sample preparation procedure consists of primary crushing, pulverization and reduction of the sample by the quartering method. The sample is pulverized in the ring mill.

The Piura plant laboratory has implemented the ISO 9001 standard; it has different instrumental equipment. The annual maintenance and calibration program is applied to ensure the reliability and traceability of the measurements performed.

The major equipment is X-ray fluorescence (XRF), which is used for chemical control of the different plant processes, such as:

Also, the hydraulic press is used to determine and analyze the compressive strength of the different types of cement produced in the plant.

For all types of cement, different physical characterization tests are performed, such as air content test, Blaine fineness, autoclave expansion, compressive strength and setting time using the Vicat needle method. 

Other complementary tests are autoclave shrinkage test, expansion in the mortar at 14 days, expansion by sulfates at six months, chemical tests by the classical method to determine loss on ignition and insoluble residue.

Table 16 describes the sampling and data verification plan (PI-CC-D-01) for the processes for receiving of raw materials, raw mill scale, raw meal milling, kiln feeding, coal scale, coal milling, preheater, kiln filter, clinkerization, cement mill scale, cement grinding, composite cement grinding, packaging control and packaging – composite.

Table 16 Tests and frequency for each stage of the process

The quality plan implemented by Cementos Pacasmayo for the cement plants includes the insertion of standards to control the accuracy in the samples. As part of the quality plan, the laboratory evaluates its performance through external interlaboratory; in this sense, the laboratory participates in 02 interlaboratory:

Quality assurance procedures include control of finished products, control of non-conforming products, validation of silos, density analysis, QAQC program, quality plan and quality control parameters for raw materials received at the Piura plant.

Cementos Pacasmayo S.A.A has implemented QAQC protocols to develop cement production activities at the Piura plant to ensure the quality of the information that allows the Estimation of the Mineral Resources and Reserves of the deposit.

Sampling of raw materials, raw meal and cement during the cement production process at the Piura plant is carried out by the contractor Bureau Veritas.

Sample preparation consists of sample collection and preparation for raw material, raw meal, coal, clinker and cement.

The testing procedures are physical testing for cement, wet chemical analysis and operation of XRF equipment.

Likewise, the control parameters are raw material parameters, pozzolana, slag, mineral reception parameters, clinker production parameters, raw material parameters for raw meal, raw meal feed parameters, raw meal milling parameters, coal milling parameter and cement milling parameters.

Cementos Pacasmayo S.A.A. has a Quality Assurance, Research and Development area that ensures compliance with the requirements for finished products specified in Peruvian Technical Standards, which are traceable to the standards of the American Society for Testing and Materials (ASTM).

The Research and Development area is located at the Pacasmayo plant, and its scope includes operations at the Piura plant.

Compliance with the requirements based on the quality assurance management system, the indicator was 0% of nonconforming products in the market. This evaluated under the specification of Standards NTP 334.009, NTP 334.090 and NTP 334.082 (similar to ASTM C150 and ASTM C1157). Likewise, the level of customer satisfaction (G-GH-F-03) is 91.97%.

Based on the above, in the qualified person’s opinion, the quality assurance system at the Piura plant, which includes preparation methods, procedures, analysis and security, complies with the best practices in the industry, thus ensuring that the end customer has confidence in the level of quality of the products marketed by Cementos Pacasmayo. The QAQC is adequate for Mineral Reserves estimation.

This Chapter shows the data verification activities for the geology, quarry, and cement plant areas.

CPSAA has an unit specialized in the compilation, verification and standardization of information for the geological database. It’s main function is the validation of the data to be used in the estimation of mineral Resources and Reserves. For the proper management of the information, internal protocols have been implemented, which are subject to internal audits.

The data collection applies to exploration activities. For diamond drilling, the process flow for planning and executing drilling, survey methods for reporting drill collars and ddh / verification of the quality of information and recovery process of the core information. In addition, for geological sampling activities, the processes flowsheet, validation and consistency of sample information, sample preparation and testing, density, registration process and digital photographic storage are used.

The stages for management and validation of database are the recovery, processing and storage of the database. The database validation includes database development process flow, information standardization and integration process, information storage strategy, appropriate database technology, structure and practicality of the database system that allows a fast and flexible access and input of information and validation of chemical results, which includes the QAQC report.

The consistency between the database records and the original registry was verified by the QPs in 2023. No differences were detected between the database and the log files. A digital copy of all records is kept as a pdf file. Digital certificates support the chemical analysis data.

The collection of the information considered the following: drill collars, survey, lithology, samples and assays.

Collar, Survey, Lithology and chemical analysis data were imported and processed with MX-Deposit software (By Seequent).

The results indicated that the database had adequate integrity for Resource estimation. This software verifies that the data entered from each sample or reported by the external laboratory is correct for input into the Resource model.

The team followed the defined processes for information flows to support Resource and Reserve estimation. The qualified person followed the same process as a means of verifying and validating. It has been found that the validated information is congruent in the interpretations of the same, with which the fundamental base geological models were generated for the estimation of the Resources.

No findings have been found that could invalidate the estimation of the Resources and Reserves of the unit.

Data for each hole was individually checked in the database to confirm accuracy.

The reviews included:

Typical errors may impact reserve and resource estimation related to discrepancies in original data entry. These errors may include:

Data validation follows the field operational procedures that collect information from the source (collar, survey, lithology, samples, and assays). Finally, when the information is transmitted and uploaded to the mining software for geological modeling and estimation, it is double-checked to eliminate any additional errors.

The qualified persons followed the defined processes for information flows to support Resource and Reserve estimation. The qualified person followed the same process as a means of verifying and validating the geologic data. They found that the validated information is congruent in the interpretations of the same, with which the fundamental base geological models were generated for the estimation of the Resources.

No findings have been found that could invalidate the estimation of the Resources and Reserves of the unit.

The Quality Control Plan consists of the following: PDCA cycle, customer, a person in charge, activities, risks, control methods, monitoring, measurement, analysis, evaluation and documentary evidence.

The PDCA cycle is:

The XRF analysis, chemical analysis, and physical analysis are made to verify the results of the samples as part of the Quality Control Plan.

The data resulting from these three types of analysis are recorded and evaluated to determine whether they comply with the technical specifications.

Data verification procedures include internal audits, checklists, statistical tables, reports, data validation, certificates, interlaboratory test reports, and compliance with quality protocols.

Cementos Pacasmayo S.A.A. through its quality assurance and control unit participates in evaluations with international laboratories such as CCRL/ASTM (Concrete and Cement Reference Laboratory), which is an international reference laboratory for construction materials, and Xamtec of Colombia, an international interlaboratory, in order to report reliable data.

The Quality Control laboratories endorse their analysis methods by participating in interlaboratory analysis programs, which compare the results with national and foreign laboratories. The methods of analysis compared are X-ray fluorescence (XRF) and the physical cement tests, which are the methods used to control cement quality. In all the results of these interlaboratory programs, the companies always obtain the best results for each test.

In the author’s opinion, the methodologies used for collecting and processing data at the cement plant are accurate and free of fundamental errors. This information can be used for the model’s construction and estimates for cement production.

Considering that the analyses of the main chemical components and physical properties of the raw materials and final products are made in external laboratories, the quality of the information is adequate for preparing mineral Resource and Reserve estimates.

Cementos Pacasmayo S.A.A. has a Quality Assurance and Control and a Research and Development department. The objective of the department is to develop, evaluate and research procedures for developing products at the laboratory level and they are scaling up to the industrial level. Another objective is to identify other additions that can substitute for clinker: slag, pozzolana, fly ash, calcined clays, etc., to reduce their environmental footprint and the cost of cement production.

They have also implemented procedures for preparing, reviewing, issuing, and controlling test reports associated with cement production in the Pacasmayo and Piura plants.

Cementos Pacasmayo has implemented the ISO 9001 standard since 2015. The Research and Development laboratory, located at the Pacasmayo plant, is responsible for technical aspects of cement plant and quarry operations (including the Virrila quarry).

A permanent control is carried out with other laboratories to further the results. Likewise, interlaboratory reports are obtained from external laboratories such as CCRL (Cement and Concrete Reference Laboratory), wich is an international reference laboratory for construction materials, and Xamtec from Colombia, an internal interlaboratory.

Cementos Pacasmayo S.A.A. has also obtained the certification that certifies compliance with Supreme Decree No. 001-2022, which validates compliance with the Technical Regulation on Hydraulic Cement used in Buildings and General Construction.

Cementos Pacasmayo SAA opted for the highest and most rigorous certification model (Type 5) granted by ICONTEC, which has extensive experience in the certification of products and services.

A significant percentage of Research and Development activities are focused on evaluating different ratios between clinker-mineral additions that provide the best functional characteristics to our products and at the same time keep balance with the benefits generated for the company. Whether it is a requirement or an own initiative oriented to supply any previously identified need, the laboratory tests are developed to continuously generate an operational advantage for the company. Based on this work, the laboratory has determined (and confirmed with production estimates) that 1 tonne of coquina yields 0.77 tonnes of clinker and the clinker/cement factor with additions is 0.71.

The R&D Laboratory located at the Pacasmayo plant provides analysis and research services to all of the company’s cement plants.

At the Pacasmayo plant, the studies conducted in the Research and Development Laboratory and the Quality Control area include reducing the clinker/cement factor and substituting slag for pozzolan at the Piura plant. The clinker/cement factor of the cement is 0.71.

The Research Laboratory issues technical reports following international standards for the operations area, identifying the correct data, defining the requirements that may vary but include accuracy, consistency, and validity through an evaluation of the data and implementation of solutions and finally, validating the adequacy of the data.

The operations area then evaluates the convenience of industrially implementing the tests and validating what is reported at the laboratory level. The integrity and adequacy of the data reported by the area is based not only on the technical competencies of the collaborators as well as on the high scores obtained in the external interlaboratory of recognized entities such as XAMTEC and CCRL in their different programs.

The geological model was developed and structured using Leapfrog software. The QP generated the model solids, taking into account the lithology of the deposit based on the geological characteristics and its quality.

Due to the nature of the deposit in its stratified nature and occurrence, the qualified persons interpreted the geological model with the help of a set of sections parallel to the two main directions of the deposit shape, spaced every 140 meters.

Considering the conceptual model of the project and based on the fieldwork carried out by Cementos Pacasmayo’s geologists, the lithological descriptions were grouped into ten horizons (Table 17).

Table 17 Lithologic units of the Virrila quarry geological model

The main criterion for the geological model is the quality, supported and associated with the lithological aspect.

The lithological criteria are based on the macroscopic physical characteristics of the shell horizons and the percentage of important elements in their composition (oxides).

This analysis uses a quality cut-off of 48.5% of CaO based cement manufacturing technical specifications. In addition, other quality parameters were considered according to the technical specifications. All criteria together allowed the identification of good quality horizons, which were assigned the following codes in the CAPA item.

Table 18 shows the quality parameters for Domo coquina and Addition coquina.

Table 18 Quality Parameters for Dome and Additive coquina

The block model was configured based on the dimensions and spatial distribution of the formations containing the material of economic interest.

Table 19 shows the extents of and dimensions of block in the model. (Coordinates in UTM units).

Table 19 Characteristics of the block model

The Geological Model used 3,866 samples obtained from 536 diamond drilling wells executed in the current production areas for resource estimation.

The data is managed in a database. From there, it is extracted and loaded into MIneSight (by Hexagon) and used for resource estimation

The density data for the estimation of the coquina Resources of the Virrila quarry as of December 2023, were taken from the historical data of sampling results carried out in the first drilling campaigns. The density ranges between 1.51 and 1.89 t/m³.

In general, each geological unit is estimated from the composite data (the composites were restricted to not cross “hard” boundaries between different geological units).

The objective of composting is to create a distribution of grades of equal support (volumes) from the initial samples in the drill hole. Thus, when compositing, one must be careful that the composites preserve the original nature of the sample. The calculated values considered in the compositing were for the SiO₂, Al₂O₃, CaO, MgO, and SO₃.

Composites were made at different lengths to determine the optimum compositing length, resulting in compositing at 1 m as the length that best fits the nature of the original sample and is included in the resource estimation process.

In addition, the length of the deposits is considered based on an exact multiple of the height of the blocks used to model the deposit and is also matched to the bench height to be operated.

Table 20 shows the results of the basic statistics of the principal oxides as CaO, SiO₂, MgO, Al₂O₃ and SO₃ contents for the original data and the composited data.

QP performed the statistical analysis for each defined body with the interpretation of deposit quality, which were also taken as criteria for modeling and estimation.

Table 20 shows the statistics for “Horizon A2” as this is the main horizon for estimating the Reserves.

Table 20 Basic data statistics

Extreme values are considered to be those analysis results that are not representative of the unit being studied and are above the mean plus twice the standard deviation.

In the analysis of the extreme values from the laboratory results for the calcareous lithologic units being estimated, no significant deviations were found that would alter the estimation results; the results are consistent and representative considering the geological nature of the horizons to which they correspond.

In the variogram analysis of the composited data for each level corresponding to each body of economic interest at the Virrila quarry, the variogram structures found do not show any preferential direction in the correlation. With the variogram is not possible experimental reflects the maximum distance or range and how a point influences another point at different lengths. In this sense, for the Virrila quarry, the inverse of the distance method was applied.

The Inverse Distance (ID2) method was used for all variables and Nearest Neighbor (NN) for validations, defining parameters for each estimator. Table 21 shows the main parameters used to define the interpolations of the main CaO variable of the A2 layer and of the secondary variables, respectively.

The interpolations were performed in 3 consecutive processes.

Regarding the number of composites, we used a minimum of 1 per block and 2 as maximum, for the first interpolation and a minimum of 2 per block and 3 as maximum for the second and a minimum of 3 per block and 4 as maximum, for the third interpolation.

Additionally, a maximum of 1 composite were considered for each borehole taken in the interpolation.

Table 21 Estimation Parameters Secondary Variables

Mineral Resource estimates are effective December 31, 2024. The point of reference for all Mineral Resources estimates is as quantities at [delivered to the] cement plant. For the estimation of Mineral Resources, the analysis considered the CaO content as well as the content of impurities. The impurities are restrictions determined by the cement production plant. Table 22 shows the quantity of Resources and the average values of their quality.

Table 22 Resource estimates (exclusive of Reserves) at the Virrila quarry

For the determination of Resources, the costs of extraction, transportation, cement processing and cement dispatch were considered to determine the Resources. The cost estimate considers the increase in distances, which vary from 4.6 kilometers to 7.5 kilometers from the quarry to the plant and operating costs in the open pit during the 30 years of evaluation. Since the stripping or overburdens is 0.39 and is consider in the economic model

The costs are based on real sources of current operations of Cementos Pacasmayo S.A.A. and the selling price of cement in 522.0 S/ x t during 2025 (at cement plant). Chapter 18 and 19 shows the costs and prices for the determination of Mineral Resources. The main factor for the determination of Resources is quality. The cut off can be seen in Table 18, the Virrila quarry is a sedimentary deposit and, thus, the model for the estimation of Resources considered the Virrila quarry as a unit, whose coquina production is carried out by 12 m benches.

The Mineral Resource estimation considers the Virrila deposit as a set of layers integrated into a single body, defined by the continuity of quality.

The definition of waste is based on the quality (CaO) as the main parameter. The waste is variable in thickness and quality throughout the deposit.

The area associated with the resource estimation is located in the central part of the UEA Virrila and away from the mining property boundaries.

On the other hand, the public road to Bayovar Bay, the transmission line owned by a third party company, and an oil supply pipeline that ends at the port of Petro Peru pass through our mining concessions. It is important to mention that these components do not interfere with the operations in the Virrila quarry nor with the estimation of coquina resources reported in this report.

The Mineral Resource evaluation has considered relevant technical and economic factors such as coquina production costs, cement sales prices, environmental and social viability at our operations.

From the environmental and social point of view, Cementos Pacasmayo has been developing activities in Peru for more than 60 years and is recognized as a Peruvian company with a high reputation, therefore, it is expected that the environmental and social viability will continue.

The economic analysis that shows the economic viability of Mineral Resources is presented in Chapter 19.

The information that supports the estimation of the quarry’s Resources is consistent, which allows obtaining a robust Resource model.

The parameters for Resource classification used by Cementos Pacasmayo S.A.A. were obtained from the experience of calculating the optimum drilling grid for sampling by geostatistical methods. Additionally, the variographic analysis was considered taking as reference the variogram range. After considering all these, resource classification was based on the following criteria:

Several configurations have been defined from this basic configuration, taking into account the number of drill holes and the average search distance.

The geological modeling of the Virrila quarry deposit has been developed considering four zones.

Currently, the production has migrated and is centered 90% in zone 3, the quality and geological characteristics of the calcareous horizons were considered as a basis for the interpretation and development of the model, taking into account the diamond drilling of the different drilling campaigns. The relationship between drill hole information and the geological model is consistent.

The process of production in zone 1 is in its final phase, a gradual migration process to zone 3 should be initiated.

The model for zones 2 and 4 has been developed based on the geological interpretation supported by different drilling campaigns. It is pending to include information from the last diamond drilling campaign carried out in these areas.

It is essential to homogenize the criteria for interpreting the geological information of the four zones so that the models that support the Resources can be standardized.

The information that supports the estimation of the quarry’s Resources is consistent, allowing obtaining a robust resource model.

The total estimated Mineral Reserves in the Virrila quarry are 39 million tonnes which are detailed in Table 23 in their different classes.

In the periodic update of the Reserves of the Virrila quarry, the Reserves produced within the update of the Resource and Reserves models are taken into account. Also taken into account were any changes to assumptions about “modifying factors” (which should be evaluated), or the change and entry of any new data.

The quality metric used in the Mineral Resources and Reserves estimation is the calcium oxide (CaO) content, which is a stable variable in the deposit. Its specific values depend on the lithological domain with its concentration higher in some lithologies than in others.

Based on the revised Mineral Resources model, the Mineral Reserves were estimated as the indicated and measured resources in the life of mine pit that supports the mining plans for production and supply of coquina to the Cementos Pacasmayo S.A.A. plants.

The QPs estimated life of mine consumption of coquina over the 30 years of mine life is based on the estimated Reserves and the projection of plant needs provided by CPSAA management and finance control department. The projected consumption increases gradually each year.

The criteria used for the determination of Mineral Reserves are described below.

ROM is considered to be all material produced in the quarry that complies with the specifications and will be sent to the plant for cement production. For determining ROM tonnage, dilution was considered to be negligible. The recovery in the quarry was assumed to be 100%.

The coquina received at the Piura plant is properly stored and then mixed with other raw materials to obtain the raw meal feed (kiln feed). On average, the raw meal contains 84% coquina. After the raw meal is obtained, it is fed to the calcination kiln to obtain clinker. Finally, the clinker is mixed with additives to obtain cement.

For the determination of the mineral Reserves, the costs of production, transportation, cement processing, and the quality restrictions of the raw material, were considered. The costs are based on actual sources from the current operations of Cementos Pacasmayo S.A.A. in Virrila quarry and Piura plant. Chapter 19 shows the economic analysis to determine the Mineral Reserves.

The economic analysis that shows the economic viability of Mineral Resources and Reserves is presented in Chapter 19.

Table 23 shows the Mineral Reserves at the Virrila quarry.

Table 23 Ore Reserves expressed in million tons

The Reserves calculated for Virrila quarry from the Mineral Resources consider the risk factors and modifying factors. The quality factors are considered the most sensitive factors that, by their nature, can affect the Reserve estimates. Although the main variable is considered to be CaO, which is very stable in the deposit, there are others that determine the quality of the Reserves and could even affect the process if they are not adequately controlled, such as the Chlorine and SO₃ content.

However, in certain conditions the increase of SO₃ is acceptable, considering that its genesis, according to its geological nature, comes from gypsum. This is important because it allows a better balance in the cycle of alkalis (Na₂O, K₂O) considered in the sulfate module.

In the process of calculating Reserves and in the quarry production plans, these variables have been adequately considered in the mining plan by proper production sequencing with blending processes.

In addition to quality factors, ore reserves could change from operating performance-controlled production costs, allowing for maximization of the use of resources in the extractive processes for the use of resources in the extractive processes for the industrialists, guaranteeing the LOM of the quarry.

Cementos Pacasmayo S.A.A. is the current owner of the Virrila quarry and is in charge of the coquina´s production. The loading and transport of coquina has been outsourced to contractors, Cementos Pacasmayo S.A.A. supervises the quarry to verify the activities and output according to the requirements of the Cement Plant.

In 2013, Cementos Pacasmayo S.A.A. performed a geotechnical study at the Virrila quarry to understand the rock mass.

In 2015, Cementos Pacasmayo S.A.A. carried out hydrogeological studies at the Virrila quarry to understand hydrology.

The mining method is open-pit mining with benches, ramps, and access roads. The main production unit is a Surface Miner. The quarry does not require explosives. Figure 8 shows the overall production process. The main production activities are:

Figure 9 Mining secuence of Virrila quarry

The surface miner is used in horizontal layers of 0.25 meters deep by 3.8 meters wide. Subsequently, it is sampled to assess the quality of the coquina. The sand over the coquina is used in progressive clouse plan.

The material is stacked using a front-end loader. The stockpiles consider the angle of repose of the material and form slopes of 37°, maximum height of 3 m, and a maximum volume of 25,000 m³ per stockpile.

Loading and transportation is conducted with dump trucks, which are weighed on an 80 tonnes capacity platform scale. The material is transported from Virrila quarry to Piura plant.

Table 24 shows the main equipment used to conduct production activities at the Virrila quarry.

Table 24 Mining equipment at the Virrila Quarry

In 2013, Cementos Pacasmayo hired DCR Ingenieros S.A.C. to conduct geotechnical studies of the Virrila quarry. This serves as the basis of geotechnical assumptions used at the quarry to date. The main results are presented below.

During the study, DCR Ingenieros S.A.C noted that the lithological profile is stable when cut. With slopes between 75° to 80° of inclination, no slides or landslides occur. The stability analyses determine these conditions.

Table 25 Virrila quarry physical stability analysis summary

Analysis methodology

Stability analyses were performed using the Rocscience SLIDE software, version 5.014, which allows the user to perform limit equilibrium calculations.

The software used allowed engineers to search for the most critical failure surface with the lowest safety factor for a given geometry and materials.

The analysis considered the Morgenstern-Price and Spencer limit equilibrium methods, which satisfy the equilibrium of forces and moments.

It also considered that the material is homogeneous and isotropic and that plastic collapse would occur due to the progressive failure mechanism along the slip surface.

Factors of Safety

The safety factors recommended for the stability analyses are based on the recommendations of the Environmental Guide for Slope Stability of Solid Waste Deposit Slopes of the Ministry of Energy and Mines, the United States Society of Dam (USSD), and the United States Bureau of Reclamation (USBR).

According to the guidelines mentioned above, the following safety factors are considered:

Geotechnical Parameters

The geotechnical parameters used for the physical stability analysis were obtained from geotechnical field and laboratory investigations and based on a geomechanical evaluation using the RocLab program (Rocscience).

Table 26 summarizes the geotechnical parameters used in the static and pseudo-static stability analysis.

Table 26 Geotechnical properties of materials

Due to the characteristics of the calcareous material (cemented coquina) present in the Virilla quarry, as well as the depth at which the calcareous material to be produced is present, the physical stability of the quarry’s production cuts has been analyzed, considering the following typical cutting geometry:

Cutting slopes: 75° - 85°.

The geotechnical aspects are those currently used in the virrila quarry.

Based on the study that DRC Ingenieros S.A.C conducted in 2013, Ram Perú S.A.C drilled two piezometers in the Virrila quarry to obtain information associated with the hydraulic tests being applied to date. The main results are presented below.

Topographically, this unit is developed at a maximum elevation of 80 meters above sea level, being slightly inclined to the SE. The quarry is located on a raised Pleistocene marine terrace, higher than 60 meters above sea level; Its relief is essentially flat, with slight undulations due to wind action. Though, it is under the influence of the Piura river basin; the quarry is not at risk of flooding.

The coquina production achieved during the year 2024 is 0.9 million tonnes of coquina, and 0.56 million tonnes of waste rock, which gives a stripping ratio of 0.62.

Based on the plant requirements and sales projection for the next 30 years, the pit design parameters for the Virrila quarry are presented in Table 27.

Table 27 Mine design parameters

Considering that the cement plant demands an average annual production of 1.31 million tonnes per year of coquina, the plan for the following 30 years is shown in Table 28.

The forecasted mining plan for the next 30 years is presented in Table 28.

Table 28 Minning plan forecast