#1Southern Copper COMPANY PRESENTATION May 2022 uthern Copper#2COMPANY PRESENTATION Safe Harbor Statement Southern Copper 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.#33 COMPANY PRESENTATION Contents 01 Introduction Southern Copper 02 p. 04 Overview of Operations 03 p. 10 Financial Overview p. 16#4Introduction 0 Corporate Structure Copper Fundamentals SCC's Strengths ESG DOD Southern Copper#5COMPANY PRESENTATION Corporate Structure 99.29 % Southern Perú GrupoMéxico MINERÍA 100.0% (*) AMERICAS MINING CORPORATION Southern Copper 88.9% (*) Public Float 11.1% (*) SCCO LISTED NYSE Southern Copper 99.96 % Minera México 5 33% of EBITDA (*) (*) As of March 31, 2022 67% of EBITDA (*)#68 0.00 2.00 1.00- 3.00 COMPANY PRESENTATION 5.00- 4.00- Copper The best Fundamental Story in Commodities • COPPER MARKET SOLID FUNDAMENTALS Expecting a market deficit for 2022 of about 100K tons. Demand: Estimated growth of 2.0 - 2.5% in 2022. Higher cathode consumption in the US. Economic slowdown in China due to COVID 19 outbreak. Supply: Risk in future production coming from Chile and Peru (Chile = 28%; Peru = 12% of global supply). Russian copper supply out of the market (about 400K tons per year) due to the Russian invasion. 6.00 LME COPPER CASH PRICE VS INVENTORIES 4-Jan-16 14-Apr-16 27-Jul-16 7-Nov-16 20-Feb-17 2-Jun-17 13-Sep-17 26-Dec-17 10-Apr-18 23-Jul-18 1-Nov-18 14-Feb-19 30-May-19 10-Sep-19 LME COMEX shanghai LME Cash 20-Dec-19 3-Apr-20 17-Jul-20 28-Oct-20 10-Feb-21 25-May-21 6-Sep-21 16-Dec-21 30-Mar-22 COPPER CONSUMPTION BY REGION USA 7% Other 10% Asia Ex China 14% India 3% China 51% Source: GRU COPPER CONSUMPTION BY END-USE Europe 16% 1,000,000 Other 900,000 10% 800,000 700,000 Transport 11% 600,000 500,000 400,000 300.000 200,000 100,000 Machinery 15% Utility Construction O 15% 20% 29% Consumer & General Products Source: GRU Southern Copper#77 COMPANY PRESENTATION Southern Copper Strengths Highest copper reserves of any listed company. Excellent organic growth projects. Low cost, fully integrated operations. • Experienced management team. Strong financial performance / investment grade since 2005. • Outstanding dividend history. Good long-term copper & by-product fundamentals. Southern Copper#8COMPANY PRESENTATION 8 ESG at the Core of our Strategy (at GMex level) Southern Copper Additional resources for ESG tasks, including the appointment of a Corporate Sustainability Director to oversee fulfillment of corporate ESG action plans and targets. Internal and external Gap analysis, with specialized agencies. Action Plan to close the gaps. Intensive dialogue and communication with stakeholders and Ratings Agencies (upgraded from CCC to B). ■Improved Sustainability Report, aligned with GRI Reporting. Included in the DJSI sustainability index. ESG ACTIONS GAP ANALYSIS ACTION PLAN STAKEHOLDERS SUSTAINABILITY REPORT AND INDEX#9COMPANY PRESENTATION ESG at the Core of our Strategy ELIGRO Safety Reduction of 22% in the accident rate of our own personnel and contractors in the last three years. Social The population served through our community programs has tripled. Climate Change In 2021, Grupo México rose two levels in the evaluation of the Carbon Disclosure Project (CDP), going from level C to level B. Communities In 1Q22 the construction of the Cularjahuira dam was completed. This facility will irrigate 500 hectares of agricultural land and will directly benefit 585 families of local farmers. 9 Certifications Occupational health and safety management systems under ISO 45001, and our environmental management systems under ISO 14001, are underway at all our mining units. Environment Increased the efficiency of fresh water consumption in the concentrators by 4% over the period. Southern Copper#1010 Southern Copper Overview of Operations Company Overview Copper Reserves Geographic Footprint & Product Diversification Low Cost Operations Copper Production Cash Cost 0 DOD#1111 COMPANY PRESENTATION Company Overview 42.4 mmt 87.2 mmt COPPER RESERVES 1 COPPER RESOURCES 2 2021: CASH COST >>>% 2022 ESTIMATES @ $4.32 x lb of Cu Copper production: 896 kt Sales: $10.6 B EBITDA: $6.2 B 58% of sales $0.67/ lb 1Q2022: $0.56/lb México Buenavista: El Pilar Santa Eulalia La Caridad El Arco San Martin Santa Barbara Charcas San Luis Potosi Perú Source: Company Filings Notes: ACHIEVEMENTS #1 Copper Company by reserves and resources 3 #5 Copper producer 4 #10 Copper smelter 4 #7 refinery 4 1 Copper contained in reserves based on US$3.30 per pound of copper as of December 31, 2021 2 Resources exclusive of reserves. Copper contained in resources based on $3.80 per pound of copper as of December 31, 2021 3 Based on available companies reports 4 Wood Mackenzie Limited Michiquillay Los Chancas Taxco Cuajone Tia Maria Ilo Toquepala Southern Copper Key Copper open pit mines Underground mines Smelters and Refineries ■Projects#1212 COMPANY PRESENTATION Copper Reserves (Mt) Largest Copper Reserves of any Listed Company COPPER RESERVES AS REPORTED SCC HIGHLIGHTS Southern Copper 60.0 50.0 42.4 40.4 40.0 34.6 30.0 25.5 24.3 18.0 17.9 20.0 10.0 100 80 94 94 • . #1 mine life among copper producers #5 world's largest producer of mined copper Highly diversified geographical presence Four large-scale open-pit mines A strong pipeline of world class copper greenfield projects and several other opportunities MINE LIFE 68 Source: 10K 20F 10K Reserves Rep. Period: Dec 31, 2021 Jun 30, 2021 Dec 31, 2021 Dec 31, 2021 Annual Rep. Dec 31, 2021 Annual Rep. Dec 31, 2021 Annual Rep. Dec 31, 2021 Years of production 60 40 50 38 37 35 28 26 24 24 24 20 Cu price: $3.30 N/A $2.50 N/A N/A $3.00 N/A 0 SCC 2015 SCC 2019 SCC after Anglo First expansion American Quantum (2028) Freeport Rio Tinto Codelco BHP Glencore Billiton#1313 COMPANY PRESENTATION Geographic Footprint & Product Diversification 2021 REVENUE BY PRODUCT SILVER MOLYBDENUM ZINC 3% 3% 3% 10% OTHER 2021 REVENUE BY MARKET PERU EUROPE 5% 7% OTHER LATAM 9% 13% UNITED STATES COPPER 81% 29% MEXICO Southern Copper ASIA 37%#14COMPANY PRESENTATION (US$/lb) Low Cost Operations (US$/lb) CASH COST PER POUND OF COPPER PRODUCED NET OF BY-PRODUCTS 1.11 1.1 0.95 0.92 0.87 0.88 0.9 0.7 0.69 0.67 0.56 0.5 2015 2016 2017 2018 2019 2020 2021 1Q22 OPERATING CASH COST PER POUND OF COPPER PRODUCED 1.8 1.66 1.6 1.54 1.52 1.49 1.44 1.4 1.37 1.64 1.83 1.2 2015 2016 2017 2018 2019 2020 2021 1Q22 14 LOW COST DRIVERS Fully integrated low cost operations. World class assets. Significant SX-EW production. Strong by-product credits. Management focus on cost efficiency and growth. 1Q2022 COST STRUCTURE Labor 13% Fuel 15% Power Maintenance 20% 18% Operating Materials 17% 17% Other Southern Copper#15COMPANY PRESENTATION C1+ Susts Cash Cost (c/lb Cu) Copper Mine Composite Costs Curve 2022 COPPER MINE, COMPOSITE, C1 + SUST CAPEX GROUPED BY COMPANY AND RANKED BY C1 + SUST CAPEX Southern Copper 400 C1+ Sust Capex 300 Anglo American plc First Quantum Minerals Antofagasta plc Codelco Cerro Verde BHP Group KGHM Polska Teck 200 Southern Copper (ex SPCC) Vale Freeport- McMoRan Miedz Glencore 100 0 15 Source: Wood Mackenzie Ltd. Dataset: 2021 Q4 10,000 20,000 30,000 40,000 Paid Metal (Mlbs) Asarco#1616 Financial Overview 0 Financial Highlights Solid Financial Performance Investment Program SCC's Major Strengths DOD Southern Copper#1717 COMPANY PRESENTATION Financial Highlights (US$ MM) 2019 2020 2021 2022E Copper Price (LME) US$ per pound 2.72 2.8 4.24 4.32 Income Statement: Net Revenues $7,286 $7,985 $10,934 $10,600 EBITDA 3,527 3,869 6,853 6,155 EBITDA Margin 48% 48% 63% 58% U.S. Income Tax Reform Adjustment Net Income 1,486 1,570 3,397 3,305 Dividends paid per share 1.60 1.50 3.20 2.25 Balance Sheet Statement: Cash, Equivalent & Short Term Investments $2,006 $2,594 $3,489 $5,212 Total Assets 16,407 16,664 18,298 20,826 Total Debt 6,941 6,544 6,548 6,242 Total Liabilities 9,549 9,388 10,090 9,515 Total Shareholders Equity 6,810 7,276 8,149 11,243 Cash Flow Statement: Capital Expenditures $708 $595 $892 $1,481 Free Cash Flow 1 1,204 2,191 3,400 2,240 Dividends paid to common Shareholders 1,237 1,160 2,474 1,739 Total Debt / EBITDA 2.0x 1.7x 1.0x 1.0x Net Debt/ EBITDA 1.4x 1.0x 0.4x 0.2x ¹Free Cash Flow defined as net cash from operating activities less capital expenditures. Southern Copper#18COMPANY PRESENTATION Solid financial performance TOP TIER MARGINS AND CONSERVATIVE LEVERAGE FOR INCREASED FINANCIAL FLEXIBILITY 2021 EBITDA Margin Antofagasta 65% 2021 Total Debt / EBITDA Rio Tinto BHP Billiton Anglo American Antofagasta Freeport SCC SCC 63% First Quantum BHP 63% Southern Copper 0.40x 0.60x 0.70x 0.80x 0.90x 1.00x 2.30x Amortization Schedule Rio Tinto 60% 2022 $300 First 2025 50% $500 Quantum 2028 $51 Anglo 2035 $1,000 49% American 2040 $1,100 2042 $1,200 Freeport 47% 2045 $1,500 2050 $1,000 18 Source: Bloomberg Consensus Source: Company Reports and Bloomberg Consensus#1919 COMPANY PRESENTATION Investment Program to Significantly Increase Production Southern Copper PERU TIA MARIA 120k tons Cu US $1.4 B ILO SMELTER ■ US $1.3 B LOS CHANCAS 130k tons Cu ■ 7.5k tons Mo US $2.6 B MICHIQUILLAY 225k tons Cu ■ US $2.5 B PROJECTS 2022 2023 2024 2025 2026 2027 2028 2029 MEXICO PILARES ■ 35k tons Cu BUENAVISTA EL PILAR ZINC EMPALME SMELTER EL ARCO 35k tons Cu ■ 190k tons Cu US $159 MM ■ 20k tons Cu 100k tons Zn US $310 MM ■ US $1.1 B ■ 105k Oz Au US $2.9 B US$ 413 MM Board Approved | +210k tons Cu | +100k tons Zn Other Projects | +545k tons Cu#20COMPANY PRESENTATION 20 Investment Program to Significantly Increase Production Southern Copper 4,600 4,200 2021-2031 CAPEX PROGRAM OVERVIEW 4,328 3,800 3,373 3,400 2,894 3,000 2,674 2,600 2,200 1,800 1,481 1,517 1,344 1,400 1,000 861 600 200 1,800 1,600 2021 2031 COPPER PRODUCTION FORECAST ('000 MT CU) 1,772 1,733 1,618 Average: 1,400 +69% $1.8 B 1,232 1,200 1,098 1,127 1,047 958 971 1,000 896 800 600 400 410 410 410 200 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 1,504 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031#21COMPANY PRESENTATION SCC's Major Strengths SCC IS THE PREMIER COPPER PLAY " World class assets in investment grade countries. Southern Copper #1 in reserves of any listed company with various organic growth prospects. Copper production heading towards 1.8M Tons by 2029. Capacity to deliver projects through flexible capital structure and significant cash generation capability. Investments focused on cost competitiveness. Fully integrated low cost operations. Cash cost of $0.67 per pound in 2021. Outstanding dividend history. Experienced management with proven track record. SCC EBITDA AND % MARGIN (IN US$ MILLIONS) 6,853 6,155 3,869 3,292 3,556 3,527 2,212 63% 58% 50% 48% 48% 49% 41% 2016 2017 2018 2019 2020 2021 2022E Cu price $2.21 $2.80 $2.96 $2.72 $2.80 $4.24 $4.32 N 21