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SOUTHERN COPPER CORPORATION GRUPO MEXICO Investor Relations : RESULTS SECOND QUARTER AND SIX MONTHS 2021 Raul Jacob + ( 602 ) 264-1375 NYSE Victor Pedraglio BOLORES BVL www.southerncoppercorp.com southerncopper@southernperu.com.pe July 26 , 2021 Southern Copper Corporation ( NYSE and BVL : SCCO ) • 2Q21 net sales were $ 2,897.0 million , 62.3 % higher than 2Q20 mainly due to higher market metal prices for all our products . Metal prices increased for copper ( + 81.8 % , LME ) , molybdenum ( + 68.6 % ) zinc ( + 48.3 % ) , silver ( + 61.9 % ) and gold ( + 6.2 % ) . On a year - to - date basis , net sales were 54.9 % higher than in 2020 . • 2Q21 net income was $ 932.7 million , which represented a 259.4 % increase with regard to the $ 259.5 million registered in 2Q20 . The net income margin in 2Q21 was 32.2 % , versus 14.5 % in 2Q20 . Our aggressive capital investment program- which has spent US $ 10.6 billion in the last 10 years- worked alongside an improvement in market prices to drive growth in net income this quarter . Through these investments , our Company has significantly increased its production in the last decade for copper ( + 109 % ) , molybdenum ( + 49 % ) and silver ( + 70 % ) while improving cost efficiency and productivity . On a YoY basis , net income was 257.7 % higher than in 2020 . • 2Q21 adjusted EBITDA was $ 1,862.4 million , which represented an increase of 141.9 % with regard to the $ 770.0 million registered in 2Q20 . The adjusted EBITDA margin 2Q21 was 64.3 % versus 43.1 % in 2Q20 . Adjusted EBITDA in 6M21 was $ 3,416.9 million , 129.5 % higher than in 6M20 . The adjusted EBITDA margin in 6M21 was 62.9 % vs 42.5 % in 6M20 . • Copper production decreased 6.3 % in 2Q21 in quarter - on - quarter terms to 237,110 tons . This result was driven by a drop in ore grades due to stripping and maintenance works that were rescheduled to this year after having been postponed in 2020 due the COVID 19 pandemic . Copper production fell 3.9 % YoY to 475,512 tons . We expect copper production in 2021 to total 960,000 tons . By - product production : Mined zinc production increased 8.9 % this quarter due to an uptick in production at both the Charcas mine and the San Martin mine ; these results were partially offset by lower production at the Santa Barbara mine . Molybdenum production decreased ( -10.8 % ) in 2Q21 compared to 2Q20 due to a decrease in production at both the Toquepala and Buenavista mines ; these results were partially offset by higher production at Cuajone and La Caridad . Mined silver production decreased by 16.1 % in 2Q21 after production fell at our IMMSA , Buenavista and Toquepala operations . • Operating cash cost per pound of copper , including by - product revenue credits , was $ 0.59 in 2Q21 , which represented an improvement of 11.5 % compared to the $ 0.66 reported in 2Q20 . In 6M21 , the operating cash cost per pound of copper , including by - product revenue credits , was $ 0.66 . This represented an improvement of 7.5 % compared to the $ 0.72 reported in 6M20 . These results were mainly due to an increase in by - product revenue credits , which was partially offset by an uptick in production costs . • Cash flow from operating activities in 6M21 was $ 1,844.2 million , which represented an increase of 106.2 % over the $ 894.5 million posted in 6M20 . This improvement was attributable to strong cash generation at our operations , which was driven by an increase in metal prices and in cost - control efficiencies .