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SOUTHERN COPPER CORPORATION GRUPO MEXICO Investor Relations : Raul Jacob NYSE Victor Pedraglio BOLSA DE + ( 602 ) 264-1375 southerncopper@southernperu.com.pe BVL www.southerncoppercorp.com RESULTS FIRST QUARTER 2021 April 27 , 2021 Southern Copper Corporation ( NYSE and BVL : SCCO ) • 1Q21 net sales were $ 2,532.5 million , which represented a 47.3 % increase over 1Q20's net sales of $ 1,719.7 million . Growth was mainly driven by significantly higher metal prices for copper ( + 50.4 % - LME ) , silver ( + 55.8 % ) and zinc ( + 28.9 % ) . Higher prices were slightly offset by lower sales volumes for copper ( -4.5 % ) and zinc ( -56.7 % ) . • 1Q21 net income was $ 763.8 million , a 255.6 % increase over 1Q20 net income of $ 214.8 million . Net income margin in 1Q21 was 30.2 % compared with 12.5 % in 1Q20 . These increases were mainly attributable to higher sales ( + 47.3 % ) and stable operating costs ( -0.5 % ) . • 1Q21 adjusted EBITDA was $ 1,554.5 million , which represented an increase of 116.3 % compared to 1Q20 adjusted EBITDA of $ 718.8 million . The adjusted EBITDA margin in 1Q21 was 61.4 % compared with 41.8 % in 1Q20 . On a QoQ basis , adjusted EBITDA was 24.0 % higher than in 4Q20 . . Copper production slightly decreased by 1.5 % in 1Q21 when compared with 1Q20 ; this was mainly attributable to lower production at our Peruvian mines ( -3.0 % ) and La Caridad mine ( -1.8 % ) and driven by a decrease in ore grades . This was partially offset by an increase in production in our IMMSA operations ( + 9.5 % ) due to higher production at the San Martin mine ( + 52.8 % ) . • By - product production : Molybdenum production increased slightly by 0.2 % in 1Q21 compared to 1Q20 , which was mainly due to higher production our Peruvian mines ( + 10.1 % ) and partially offset by a decrease in production at Buenavista ( -21.9 % ) . Mined silver production decreased by 6.3 % in 1Q21 compared with 1Q20 , due to lower production at Buenavista ( -13.4 % ) and IMMSA ( -9.4 % ) . Mined zinc production decreased 14.5 % in 1Q21 , compared with 1Q20 production , which was mainly attributable to lower production at the Charcas , Santa Barbara and San Martin mines . . Operating cash cost per pound of copper , net of by - product revenues , was $ 0.74 in 1Q21 , compared to $ 0.77 in 1Q20 . This 3.9 % decrease in cash cost was mainly the result of a significant increase in by - product revenues ( + 18.5 % ) . • In the first quarter of 2021 , we spent $ 232.6 million on capital investments , which represented a 130.3 % increase with regard to the same period in 2020 and accounted for 30.5 % of net income . • Dividends : On April 22 , 2021 , the Board of Directors authorized a dividend of $ 0.70 per share payable on May 25 , 2021 , to shareholders of record at the close of business on May 11 , 2021 .