Southern Copper — Feb 11, 2025 release

Currently, more detailed engineering is being conducted for concentrator, SX-EW plant as well as for water desalination, logistics infrastructure and power delivery.  ​ ​ ​ 4Q24 www.southerncoppercorp.com Page 3 of 12 ​ ​ ​ ​ ​ ​ ​ ​ ​ FOURTH QUARTER AND YEAR 2024 RESULTS SOUTHERN COPPER ​ ​ ​ ​ SCC has several projects in its Mexican pipeline that may boost organic growth if they are found to be of value for both stakeholders and the communities in which we operate.  These projects are Angangueo, Chalchihuites and the Empalme Smelter, which could bolster our position as a fully integrated copper producer.    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. ​ 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 contribute $3.4 billion in taxes and royalties during the first 20 years of operation. After a thoughtful and detailed review, the new project budget has been set at $1,802 million. ​ Project update: As of December 31, 2024, the Company has generated more than 614 jobs, 492 of which were filled with local applicants. To the fullest extent possible, we intend to fill the 3,500 jobs estimated to be required during Tia Maria ’ s construction phase prioritizing workers from the Islay province. When we start operations in 2027, the project will generate 764 direct jobs and 4,800 indirect jobs. ​ This year, we expect construction to begin. Work will begin with the construction of roads and access points to the project as well as railways; installing a temporary camp; and earthmoving efforts as well as mine clearing activities. We have progressed on installing and delimiting the property with a live fence of 59 kilometers up to date. ​ Los Chancas - Apurimac: This greenfield project, located in Apurimac, Peru, is a copper