Southern Copper : Company presentation - 3Q2024

O C T O B E R 2 0 2 4

3Q24 RESULTS

Agenda

Copper Market	4
Key Results
Production	5
Financial Results	6
Financial Highlights	7
Capital Investments	8
Environmental, Social and Governance Investment	9
Dividend Announcement		10
Q&A Session	11

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Copper Market

LME Copper Price

Outlook

Expected market surplus in 2024.

3.8 10%

4.2

Resilient US economy.

FED interest rate reduction cycle.

Chinese strong stimulus package.

3Q233Q24

New demand from decarbonization technologies and artificial intelligence.

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Production

3Q24 vs 3Q23

Copper

(Tons)

252,219

226,120 12%

3Q233Q24

Copper

(Tons)

242,474 4% 252,219

2Q243Q24

Molybdenum

(Tons)

6,859 6% 7,271

3Q233Q24

Silver

(MM Ounces)	5.3

4.4 21%

3Q233Q24

Zn		Zinc
	(Tons)
	31,078
	91%
	16,281

3Q23

3Q24

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Financial Results

	USD	3Q23	3Q24	VAR%	9M23	9M24	VAR%
	Net Sales	2,506	2,931	17%	7,600	8,649	14%
	Operating Cost	1,436	1,481	3%	4,277	4,402	3%
	EBITDA	1,291	1,685	31%	3,974	4,899	23%
	Cash Cost	0.98	0.76	(22%)	0.95	0.86	(9%)
	Net Income	620	897	45%	1,980	2,583	30%

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Financial Highlights

3Q24

Sales

Operating Cost

EBITDA

US$2,931 M.

US$1,481 M.

US$1,685 M.

3Q24 vs 3Q23: +17%

3Q24 vs 3Q23:

+3%

3Q24 vs 3Q23:

+31%

3Q24 vs 2Q24: -6%

3Q24 vs 2Q24:

-2%

3Q24 vs 2Q24:

-6%

							Cash Cost		Net Income
							US$0.76		US$897 M.
	3Q24 vs 3Q23: -22%	3Q24 vs 3Q23:	+45%
	3Q24 vs 2Q24: 0%	3Q24 vs 2Q24:	-6%

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Capital Investments

P e r u

P r o j e c t s

M e x i c o

TIA MARIA

• 120k tons Cu
• CAPEX under review

2027

EL PILAR

ILO SMELTER

• US $1.3 B

2029

EMPALME

SMELTER

LOS CHANCAS

 130k tons Cu  7.5k tons Mo  US $2.6 B

20302031

EL ARCO

MICHIQUILLAY

• 225k tons Cu
• US $2.5 B

2032

	36k tons Cu
	US $310 MM

Board Approved | +156k tons Cu

• US $1.1 B

• 190k tons Cu
• 105k Oz Au
• US $2.9 B

Other Projects | +545k tons Cu

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ESG Investments

SCC is committed to improving its ESG record by adopting best practices.

Certifications

Our three operations in Peru, Cuajone, Toquepala and Ilo, were awarded with The Copper Mark and The Molybdenum Mark certifications for responsible production following

an independent third-party assessment of environmental, social and governance performance (ESG).

Social Investment

We delivered the Center for Research to the Universidad Nacional de San Agustín de Arequipa (UNSA), Peru. This facility, which was built under the Works for Taxes mechanism at a cost of $18 million, is equipped with 24 laboratories and will benefit 6,500 students and 174 researchers.

Communities

The Cultural Center, located in Charcas, San Luis Potosi, Mexico, obtained first place in the Noldi Schreck awards (350 entries) in the categories "private institutional architecture" and "repurposing of buildings."

Human Development	Medical Services

Since the summer of 2023, The Cultural Center, located in Charcas has hosted over 4,700 participants and 120 volunteers across 200 activities related to education, culture, health, and sports. This space is now considered a cultural attraction and receives visits from tourists, locals and state authorities.

In September 2024, Dr. Vagón, which is Fundación Grupo México's health program, visited Cananea to provide more than 6,000 free medical services to 2,050 people. Patients were evaluated by specialists and needy candidates received medicine, eyeglasses and hearing aids.

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Dividend Announcement

Financial Performance Supports Shareholders Returns

Annual Dividend Yield

2022	5.7%	2023

Dividends Paid Per Period

$1.25

$1.00

$1.00

$1.00

$0.75

$0.50

5.4%2024

*

$1.20

$1.00 $1.00

$0.80

4.2%

***

$1.40

**

$1.20

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

• Dividend in dollars estimated with a stock dividend of 0.0104 shares of common stock per share of common stock, based on a share price of $115.13, which is the average of the high and low share price on April 18, 2024.

• Dividend in dollars estimated with a cash dividend of $0.60 per share of common stock and a stock dividend of 0.0056 shares of common stock per share of common stock, based on a share price of $106.54, which is the average of the high and low share price on July 18, 2024.

***Dividend in dollars estimated with a cash dividend of $0.70 per share of common stock and a stock dividend of 0.0062 shares of common stock per share of common stock, based on a share price of $112.43, which is the average of the high and low share price on October 17, 2024.

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