Southern Copper — Apr 24, 2025 release

​ Michiquillay Project - Cajamarca : In June 2018, Southern Copper signed a contract to acquire the Michiquillay project in Cajamarca, Peru. Michiquillay is a world-class greenfield mining project with inferred mineral resources of 2,288 million tons and an estimated copper grade of 0.43%. 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 March 31, 2025, the total progress of the exploration project was 39%. We have drilled 145,928 meters (total program = 148,000 meters) and obtained 47,990 drill core samples for chemical analysis. Diamond drilling will continue and will provide information to interpret mineralization in geological sections; develop geological models; and evaluate mineral resources. Geo-metallurgical as well as hydrological and hydrogeological studies have been initiated; the geotechnical study for the project is scheduled to begin shortly. ​ ​ 1Q25 www.southerncoppercorp.com Page 4 of 12 ​ ​ ​ ​ ​ ​ ​ ​ ​ FIRST QUARTER 2025 RESULTS SOUTHERN COPPER ​ ​ ​ ​ ​ Environ