01.3rd Quarter 2021 Report

Third Quarter 2021

RESULTS

Mexico City, October 27, 2021

Grupo Mexico, S.A.B de C.V. ("Grupo Mexico"- BMV: GMEXICOB)

As a result of our capital investment program, which has exceeded US$22 billion in the last decade, we achieved record results ensuring the sustained growth of our business units to provide attractive results for our investors, employees, and communities where we operate, Grupo México reaffirms its commitment to continue contributing to the economic growth and social wellbeing of the countries where it is present.

Consolidated revenues accumulated in 3Q21 reached levels of US$11 billion, 43.0% higher than in the same period of 2020, due to a 59.1% increase in the price of copper and a considerable recovery in volumes transported. The Mining Division achieved US$8.99 billion in revenues in 3Q21, 51.5% higher than in 2020, due to a significant increase in the price of the metals that most contribute to our revenues: Copper (+59.1%), Molybdenum (+73.0%) and Zinc (+35.1%). In the Transportation Division, revenues during the year reached US$1.89 billion, 17.0% above 2020. The Infrastructure Division achieved US$410 million in accrued net revenues, an increase of 4.7%, over 2020. Consolidated revenues in 3Q21 reached US$3.65 billion, 28.9% greater than in 3Q20. The Mining Division reported sales of US$2.96 billion in 3Q21, 31.3% higher than in 3Q20, mainly due to an increase of 46.3% in copper prices and of 147.1% in molybdenum prices. In the Transportation Division, revenues during the quarter totaled US$655 million, 22.0% higher than in 3Q20, due to a 14.3% increase in volumes transported. The Infrastructure Division achieved quarterly net revenues of US$138 million, an increase of 6.8% vs. 3Q20.

The Mining Division achieved its best quarter in terms of production of all metals so far this year. Copper production accrued up to 3Q21 totaled 815,655 tons, a 2.8% decrease vs. the previous year, due to variations in ore grades and recovery levels. Production decreased 3.0% in Peru; in Mexico, it showed a 2.7% reduction, and there was a 2.4% drop in Asarco. During the third quarter, production decreased by 2.2% vs. 3Q20 totaling 274,506 tons; however, it increased 1.7% vs. the preceding quarter. As for byproducts, molybdenum production increased 5.5% in 3Q21, silver production rose 11.9%, and gold production grew 6.5% above 3Q20.

The Mining Division reiterated its first-place position as the company with the lowest net cash cost globally.

Accrued up to 3Q21, a decrease of 6.6% was achieved in the global cash cost, which stood at US$0.80 per pound. The net cash cost was US$0.77 per pound of copper during the quarter, down from $0.82, a considerable improvement of 6.1% compared to 3Q20. At the same time, it maintained the first place globally in copper reserves.

Accrued EBITDA reached US$6.74 billion in the first nine months of the year, with an 85.7% increase compared to 2020 and a 61.2% margin. During the year, the Mining Division reached US$5.71 billion in EBITDA, 109.8% more than in 2020, due to the copper price increase mentioned above, and an effective cost control. The Transportation Division accrued US$850 million in EBITDA, 19.6% higher compared to 2020. The Infrastructure Division achieved US$174 million in EBITDA in 3Q21, 14.5% lower than in 2020, mainly due to the adjustment of quotas in Perforadora, a mismatch in projects in Constructora, and lower F/X gains.

During 3Q21, consolidated EBITDA reached US$2.18 billion, 46.1% higher than in 3Q20. The Mining Division reached an EBITDA of US1.85 billion during the quarter, 53.0% greater than in the same period of 2020. The Transportation Division's EBITDA reached US$293 million in 3Q21, a 23.4% increase vs. 3Q20. The Infrastructure Division achieved quarterly net revenues of US$56 million, a 6.0% reduction vs. 3Q20.

gmexico.mx

THIRD QUARTER RESULTS 2021

Consolidated net income at 3Q21 was US$2.75 billion. The profit for 3Q21 was US$818 million.

Capital investments during 3Q21 totaled US$1.02 billion. In 3Q21, US$339 million were added, 45.6% more than in 3Q20, due to the progress achieved in the growth projects. Our investment program for 2021 is roughly US$1.80 billion, in different projects across the Three Divisions that will be sources of economic revival and job creation for the countries where we operate.

Dividend. - On October 22, 2021, the Board of Directors decreed the payment of a cash dividend of $1.75 pesos per share outstanding, to be made in a single installment as of December 1, 2021. This dividend implies an appealing annualized dividend yield of 7.4%.

	Third Quarter	Variance	January - September	Variance
(Thousand US Dollars)	2021	2020	US$000	%	2021	2020	US$000	%
Sales	3,651,791	2,833,969	817,822	28.9	11,000,436	7,692,227	3,308,209	43.0
Cost of Sales	1,361,887	1,237,468	124,419	10.1	4,103,059	3,822,997	280,062	7.3
Operating Income	1,850,838	1,187,672	663,166	55.8	5,626,388	2,643,174	2,983,214	112.9
EBITDA	2,181,261	1,492,981	688,280	46.1	6,736,869	3,628,073	3,108,796	85.7
EBITDA Margin (%)	59.7%	52.7%			61.2%	47.2%
Net Income (Whitout equity securities)	1,074,846	613,327	461,520	75.2	3,366,747	1,300,833	2,065,914	158.8
Net Income	817,978	718,026	99,951	13.9	2,754,749	1,041,402	1,713,347	164.5
Profit Margin (%)	22.4%	25.3%			25.0%	13.5%
Investments / Capex	338,641	232,556	106,085	45.6	1,018,296	712,090	306,207	43.0

All figures are stated in dollars ("US$"), currency of the United States of America, under U.S. GAAP, except where otherwise noted.

In order to showcase the performance of our operations, we are including the concept of profit before shareholding. Net profit includes the capital gain/loss of the shares, as well as their effect on deferred taxes.

2

THIRD QUARTER RESULTS 2021

Relevant Events

Grupo México

Grupo México is the third largest company in the country in terms of market capitalization and the fourth in securitization. It is the first company in tax payments and the first in profit-sharing in Mexico and Peru.

To this day, Grupo Mexico employs 29,500 direct collaborators and more than 110 thousand highly skilled and well-paid indirect jobs. Grupo México is the fifth largest copper producer in the world, with the lowest cash-cost in the industry worldwide and the largest copper reserves in the world.

Current COVID-19Situation.- We continue to support vaccination logistics in the communities where we are present, with the government authorities in Mexico and Peru. We maintain as the company's priorities ensuring safe work environments and implementing strict protocols to guard the health of our employees and their families.

So far, the Mining Division averages in Mexico, Peru, and the US, 87 percent of the staff with at least one dose of the COVID-19 vaccine, the Transportation Division has 69 of the staff vaccinated, and in the Infrastructure Division, 74 percent of our employees are already protected.

The healthcare measures to prevent infections, such as permanent testing, wearing facemasks, and observing social distancing, will continue to be implemented fully across all of Grupo México's operations.

ESG. - Sustainability is a key pillar of Grupo México's business model.

Numerous programs and initiatives have been driven to support communities in coping with the COVID-19 pandemic in the regions where we operate. In Peru, for example, an agreement was signed with the authorities in July 2021 to vaccinate 40% of the population in the company's 5 regions of influence. Grupo Mexico has donated more than US$2.45 million to support the construction, restoration, equipping, and operation of vaccination centers.

Also, in Peru, the Semi-detailed Environmental Impact Study of the Michiquillay mining exploration project was approved on October 1 this year by the Ministry of Energy and Mines of Peru. The approval ensures the environmental viability of the project, the main requirement to proceed with obtaining the complementary permits necessary to start exploration activities. Additionally, environmental certifications were obtained for 9 projects of the Cuajone Mining Unit, implying various improvements in operations. This maintains the progress of the projects and gives continuity to investments in Peru.

The Mining Chamber of Mexico awarded the La Caridad Mine and the Metallurgical Plant Refinery a recognition for registering the best safety indices in their categories during 2020. The La Caridad Mine received the silver helmet in the open pit mining category with more than 500 workers, while the Metallurgical Plants Refinery received this award in the category of metallurgical plants and smelters with up to 500 workers.

Grupo México reiterates its commitment to contribute to the improvement and conservation of our environment through a net positive impact of mining operations on biodiversity. To achieve this commitment established in the company's Environmental Policy, action plans for Biodiversity Management have been developed, aligned with the Good Practice Guide for Mining and Biodiversity, published by the International Council on Mining and Metals (ICMM). With this, we are better positioned to develop mitigation measures and contribute to the conservation or improvement of our environment.

3

THIRD QUARTER RESULTS 2021

The government of Sonora recognized Grupo México as a "Culturally Responsible Company", for voluntarily joining the promotion of history, rescue of the traditions and customs of the state. Three of the community programs promoted by the company were recognized: The Traveling Documentary Film Workshop, which led to the production of more than 200 videos; the support provided in the organization of the Alfonso Ortiz Tirado Festival (FAOT) in Nacozari and Cananea; and the creation of the Youth Orchestras. The latter is a training program offered to more than 2,100 children and young people in the communities surrounding our operations in Mexico and Peru, which led to the creation of 6 orchestras and 4 choirs.

4

THIRD QUARTER RESULTS 2021

Relevant Events

Mining Division

Projects

Over the years, Grupo México has proven the ability to have an organic growth portfolio through various stages of the copper price cycle. It continues to focus on being a global industry cost leader and operating with efficiency and financial discipline. Grupo México's projects are a source of employment and wellbeing in the communities and countries where it operates.

Projects in Mexico

The next stage of investment projects, including the large-scale projects of El Arco and Empalme, are part of an investment plan worth over US$7.70 billion over the next 10 years.

Buenavista Zinc, Sonora. - This project is located within the Buenavista deposit in Sonora and consists of the construction of a concentrator with a production capacity of 100,000 tons of zinc and an additional 20,000 tons of copper per year. The engineering study has been completed. To continue with the project, greater preventive measures against COVID-19 have been implemented. The progress of equipment purchases has reached 93%, and the main equipment is already on site. In addition, site construction work is in progress. The project has all the necessary permits, and this investment has a budget of US$413 million. As of September 30, we have invested US$196.8 million in this project. It is expected to become operational in 2023. At the completion of this new concentrator, zinc production capacity will be doubled, and it is estimated that it will generate 490 direct and 1,470 indirect jobs.

Pilares, Sonora. - This project is located in Sonora 6 km away from the La Caridad mine and consists of an open pit mine with an annual production capacity of 35,000 tons of copper in concentrates. A 25-meter-wide road was built for mining trucks that will transport the ore between the Pilares pit and the primary crushing plants of La Caridad. This project will significantly improve the total ore grade (combining the expected 0.78% from Pilares with the 0.34% from La Caridad). The budget for Pilares is $159 million of which we have invested $81.4 million. We expect the project to begin production in the 1Q22.

El Pilar, Sonora. - This new low-capital-intensive copper project is strategically located in Sonora, Mexico, approximately 45 kilometers from our Buenavista mine. Its copper oxide mineralization contains proven and probable estimated reserves of 281 million tons of ore with an average copper grade of 0.301%. El Pilar will operate as a conventional open pit mine with an annual production capacity of 36,000 tons of copper cathode using highly cost-efficient and environmentally friendly SX/EW technology. The budget for El Pilar is US$310 million and we expect production to begin during 2023, with a mine life of 13 years. The results on the pads in the leaching process confirm that there are adequate levels of copper recovery. At this time, the Basic Engineering Study has been completed and the company continues to develop the project and environmental activities on site.

El Arco, Baja California: This is a world-class copper deposit located in the central part of the Baja California peninsula with ore reserves exceeding 2.4 billion tons with an ore grade of 0.422%; 0.3 billion leaching material with an ore grade of 0.288%; and 0.11 grams of gold per ton. This project includes an open pit mine with concentrator operations and a leaching plant. We expect annual production to be close to 190,000 tons of copper

5