Southern Copper — Apr 28, 2026 release

This outcome was primarily driven by lower production at our Peruvian operations (-9.8%), which fell due to lower ore grades and recoveries and in line with the annual plan. These results were primarily offset by an increase in production at our La Caridad (+5.5%) mine. The Company expects a recovery in ore grades by the end of 2026 and follows in the next years. ● By-product production : Mined silver production rose 11.1% in 1Q26 compared to 1Q25, driven primarily by growth in production at La Caridad (+22.1%), Buenavista (+20.7%) and IMMSA (+10.8%) mines. Mined zinc production increased 2.0% this quarter, mainly due to higher production at the IMMSA (+9.1%) operations. Molybdenum production decreased 2.2% in 1Q26, driven primarily by lower production at the Buenavista (-19.2%). ● 1Q26 Operating cash cost per pound of copper, net of by-product revenue credits, was -$0.11 in 1Q26, which represented a decrease of 114.0% compared to the $0.77 reported in 1Q25. This reduction was mainly driven by higher by-product revenue credits (+87.4%), due to higher sales volumes for silver and zinc as well as better prices for silver, molybdenum and zinc. ● 1Q26, we spent $441.9 million on capital investments, up 39.0% compared to 1Q25 and 4.6% versus the figure in 4Q25. Capital expenditure represented 28.3% of net income this quarter. ● Dividends: On April 23, 2026, the Board of Directors authorized a quarterly cash dividend of $1.00 per share of common stock and a stock dividend of 0.0100 shares of comm