Southern Copper : Company presentation - 3Q2023

November 2023

COMPANY

PRESENTATION

C O M P A N Y P R E S E N T A T I O N

Safe Harbor Statement

The material in this presentation contains certain statements that are neither reported financial results nor other historical information. These estimates are forward-looking statements within the meaning of the safe- harbor provisions of the securities laws.

These forward-looking estimates are subject to risk and uncertainties that could cause actual results to differ materially from the expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Southern Copper's (SCC) ability to control or estimate precisely, such as future market conditions, commodity prices, the behavior of other market participants and the actions of governmental regulators. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation.

SCC does not undertake any obligation to publicly release any revision to these forward-looking estimates to reflect events or circumstances after the date of this presentation.

C O M P A N Y P R E S E N T A T I O N

Contents

01	Introduction
02	p. 04
Overview of Operations
03	p. 10
Financial Overview
	p. 16

3

Introduction

4

Corporate Structure

Copper Fundamentals

SCC's Strengths

ESG

C O M P A N Y P R E S E N T A T I O N

Corporate Structure

100.0% (*)

AMERICAS

MINING

CORPORATION

88.9% (*)

Public Float

11.1% (*)

5

99.29 %

Southern Perú

34% of EBITDA (*)

(*) As of September 30, 2023

99.96 %

Minera México

66% of EBITDA (*)

S E N T A T I O N

Copper - The best Fundamental Story in Commodities

C O M P A N Y P R E

COPPER MARKET SOLID FUNDAMENTALS

• Expecting a market surplus of 170K tons for 2023. Inventories still low, but growing.
• Supply: Risk in production and projects coming from Chile and Peru (about 40% of world supply).
• 2023 demand estimated to grow 1%. Concern about China's growth. Positive long-term outlook due to demand for clean energy technologies.

LME COPPER CASH PRICE VS INVENTORIES

2022 COPPER CONSUMPTION BY REGION

Source: CRU

2022 COPPER CONSUMPTION BY END -USE

6

Source: CRU

C O M P A N Y P R E S E N T A T I O N

7

Southern Copper Strengths

• Highest copper reserves of any listed company.
• Excellent organic growth projects.
• Low cost, integrated operations.
• Experienced management team.

• Strong financial performance / investment grade since 2005.

• Outstanding dividend history.
• Good long-term copper & by-product fundamentals.

E N T A T I O N

ESG at the Core of our Strategy

C O M P A N Y P R E S

STRONG ESG COMMITMENT

• SCC is building drinking water infrastructure to remedy shortages in communities in Cananea and Nacozari in Sonora, Mexico; approximately 75 thousand residents will be benefit.
• SCC is currently recovering about 6 thousand cubic meters of water per day through the new tailings filtering plant in Quebrada Honda, Peru, which is equivalent to 0.6 m3 of water per ton of tailings.

FOCUS ON RISK MANAGEMENT AND INNOVATION

• Southern Perú received the 2023 National Mining Award in the Mining Economy category within the PERUMIN 36 Mining Convention held in Peru.
• SCC published a supplement to the 2022 Sustainable Development Report incorporating new topics to address biodiversity, our people, human rights and the supply chain.

ENVIRONMENTAL AND HUMAN DEVELOPMENT

• Year to date, SCC has reforested 3 times the area impacted in the same period that are 1,398 hectares replanted versus 424 hectares impacted.
• During this year, SCC has recorded 170 thousand participations in the social programs offered by the company, which is a 7% increase from the previous year.

Sustainability

Communities

Climate Change

Overview of Operations

9

Company Overview

Copper Reserves

Geographic Footprint & Product Diversification

Low Cost Operations

Copper Production Cash Cost

E S E N T A T I O N

Company Overview

Mexico - 60%

C O M P A N Y P R

44.8 mmt

71.9 mmt

2023 ESTIMATES

@$3.80

x lb of Cu

COPPER

RESERVES ¹

COPPER RESOURCES 2

CASH COST

Copper
production:	918 kt
Sales:	$9.8 B
EBITDA:	$5.0 B
	52% of sales

2021:

$0.67/ lb

2022:

$0.78/ lb

El Pilar	Buenavista - 435 kt
	Santa Eulalia
La Caridad - 117 kt
El Arco		Santa Barbara	IMMSA- 10 kt
	San Martin	Charcas
		San Luis Potosi
		Taxco

Peru - 40%

Key

Copper open pit mines

ACHIEVEMENTS	#1 Copper Company by
reserves and resources 3
	#5 Copper producer 4
	#10 Copper smelter 4

Michiquillay Underground mines Smelters and Refineries Projects

10

#7 refinery 4

Source: Company Filings

Notes:

1. Copper contained in reserves based on US$3.30 per pound of copper as of December 31, 2022
2. Resources exclusive of reserves. Copper contained in resources based on $3.80 per pound of copper as of December 31, 2022
3. Based on available companies reports
4. Wood Mackenzie Limited

Los Chancas

Tia Maria

Ilo

Cuajone - 155 kt

Toquepala - 222 kt