Investment Program to Significantly Increase Production

8 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

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