Southern Copper — Apr 24, 2025 release

” ​ ​ ​ 1Q25 www.southerncoppercorp.com Page 2 of 12 ​ ​ ​ ​ ​ ​ ​ ​ ​ FIRST QUARTER 2025 RESULTS SOUTHERN COPPER ​ ​ ​ ​ Key Financial Data ​ ​ ​ 1Q25 ​ 1Q24 ​ Variance ​ 4Q24 ​ Variance ​ ​ ​ ​ ​ ​ $ % ​ ​ ​ $ % ​ ​ ​ (in million except per share amount and %s) Sales      $ 3,121.9      $ 2,599.8      $ 522.1 ​ 20.1% ​ $ 2,784.3      $ 337.6 ​ 12.1% Cost of sales ​   1,319.2 ​   1,157.6 ​   161.6 ​ 14.0% ​   1,211.9 ​   107.3 ​ 8.9% Operating income ​   1,535.5 ​   1,189.7 ​   345.8 ​ 29.1% ​   1,307.3 ​   228.2 ​ 17.5% Net income ​ $ 945.9 ​ $ 736.0 ​ $ 209.9 ​ 28.5% ​ $ 793.9 ​ $ 152.0 ​ 19.1% Net income margin ​   30.3% ​   28.3% ​   2pps ​ 7.1% ​   28.5% ​   1.8pps ​ 6.3% Adjusted EBITDA ​   1,745.6 ​   1,417.7 ​   327.9 ​ 23.1% ​   1,506.7 ​   238.9 ​ 15.9% Adjusted EBITDA margin ​   55.9% ​   54.5% ​   1.4pps ​ 2.6% ​   54.1% ​   1.8pps ​ 3.3% Income per share ​ $ 1.19 ​ $ 0.95 ​ $ 0.24 ​ 25.3% ​ $ 1.01 ​ $ 0.18 ​ 17.8% Capital investments ​   317.8 ​   213.8 ​   104.0 ​ 48.6% ​   235.3 ​   82.5 ​ 35.1% ​ Capital Investments ​ Our current capital investment program for this decade exceeds $15 billion and includes investments in projects in Mexico and Peru. ​ Mexican Projects ​ Minera Mexico is planning to invest more than $600 million in 2025 at both its open pit and underground mines. Half of this investment will be used to guarantee the viability of long-term operations by actively modernizing and updating assets. The remaining funds will target improvements in water usage and tailings management to ensure safety and efficiency in our operations. In addition, we will invest in efforts to bolster optimization and growth. ​ El Arco - Baja California: This is a world-class copper deposit located in the central part of the Baja California peninsula with sulfide ore reserves of over 1,230 million tonnes and an average ore grade of 0.40%, and 141 million tonnes of leach material with an average ore grade of 0.27%. The project includes an open-pit mine with a combined 120 ktpd concentrator and 28 ktpy SX-EW operations. ​ Detailed engineering is still underway for the concentrator, SX-EW plant, water desalination, logistics infrastructure and power delivery. ​ SCC has several projects in its Mexican pipeline that may boost organic growth if they are found to be of value for both sta