Southern Copper — Feb 11, 2025 release

When developed, we expect Michiquillay to produce 225,000 tons of copper per year (along with by-products of molybdenum, gold and silver) at a competitive cash-cost for an initial mine life of more than 25 years. We estimate an investment of approximately $2.5 billion will be required and expect production start-up by 2032. Michiquillay will become one of Peru ´ s largest copper mines and will create significant business opportunities in the Cajamarca region; generate new jobs for the local communities; and contribute with taxes and royalties to the local, regional and national governments. ​ Project update: As of December 31, 2024, the total progress of the exploration project was 35%. We have drilled 140,130 meters (total program = 148,000 meters) and obtained 45,762 drill core samples for chemical analysis. Diamond drilling will continue and will provide information for the interpretation of geological sections related to mineralization, geological modeling and mineral resource evaluation. Geo-metallurgical studies are currently underway; and hydrological and hydrogeological studies have been initiated; the geotechnical study for the project is scheduled to begin shortly. ​ ​ 4Q24 www.southerncoppercorp.com Page 4 of 12 ​ ​ ​ ​ ​ ​ ​ ​ ​ FOURTH QUARTER AND YEAR 2024 RESULTS SOUTHERN COPPER ​ ​ ​ ​ ​ Environmental, Social & Corporate Governance (ESG) Practices ​ Southern Copper Corporation, among the top 10 mining companies with the highest ratings for sustainability in 2024. Corporate Sustainabil