Southern Copper — Oct 21, 2024 release

In the long term, we expect demand to be stronger as copper consolidates its role as a leading player in the global shift to clean energy and AI.” ​ ​ ​ 3Q24 www.southerncoppercorp.com Page 2 of 12 ​ ​ ​ ​ ​ ​ ​ ​ ​ THIRD QUARTER AND NINE MONTHS 2024 RESULTS SOUTHERN COPPER ​ ​ ​ ​ Key Financial Data ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third Quarter ​ Nine Months ​ ​ ​ ​ ​ ​ ​ ​ Variance ​ ​ ​ ​ ​ ​ ​ Variance ​ ​ 2024 ​ 2023 ​ $ ​ % ​ 2024 ​ 2023 ​ $ ​ % ​ ​ (in millions except per share amount and %s) Sales      $ 2,930.9      $ 2,505.6      $ 425.3 ​ 17.0% ​ $ 8,649.0      $ 7,600.2      $ 1,048.8 ​ 13.8% Cost of sales ​   1,223.1 ​   1,175.7 ​   47.4 ​ 4.0% ​   3,629.6 ​   3,517.6 ​   112.0 ​ 3.2% Operating income ​   1,450.3 ​   1,069.2 ​   381.1 ​ 35.6% ​   4,247.3 ​   3,323.6 ​   923.7 ​ 27.8% Net income ​ $ 896.7 ​ $ 619.5 ​ $ 277.2 ​ 44.7% ​ $ 2,582.9 ​ $ 1,980.2 ​ $ 602.7 ​ 30.4% Net income margin ​   30.6% ​   24.7% ​   5.9pp ​ 23.9% ​   29.9% ​   26.1% ​   3.8pp ​ 14.6% Adjusted EBITDA ​   1,684.6 ​   1,290.6 ​   394.0 ​ 30.5% ​   4,899.3 ​   3,973.9 ​   925.4 ​ 23.3% Adjusted EBITDA margin ​   57.5% ​   51.5% ​   6.0pp ​ 11.7% ​   56.6% ​   52.3% ​   4.3pp ​ 8.2% Income per share ​ $ 1.15 ​ $ 0.80 ​ $ 0.35 ​ 43.8% ​ $ 3.32 ​ $ 2.56 ​ $ 0.76 ​ 29.7% Capital investments ​   246.4 ​   262.7 ​   (16.3) ​ (6.2)% ​   792.0 ​   753.2 ​   38.8 ​ 5.2% ​ Capital Investments ​ Our current capital investment program for this decade exceeds $15 billion and includes investments in projects in Mexico and Peru. ​ Peruvian Projects: ​ Tia Maria - Arequipa: This greenfield project, located in Arequipa, Peru, will use state of the art SX-EW technology with the highest international environmental standards with a capacity of 120,000 tons of SX- EW copper cathodes per year. ​ Southern Copper has consistently promoted the welfare of the population of the Islay province and the Arequipa region. As part of these efforts, we have implemented several successful social programs in education, healthcare and productive development to improve the quality of life in the region. ​ Our current social programs in Islay help reduce the costs of agricultural production by improving productivity with cutting-edge technology. Additionally, we are working to provide internet access to 4,600 school students. On top of this, we are committed to developing health facilities, high performance schools, research centers and roads in the Arequipa region via the “ work for taxes ” mechanism. ​ Tia Maria will generate significant revenues for the Arequipa region from day one of its operations. At current copper prices, we expect to export $17.5 billion and contri