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SOUTHERN COPPER CORPORATION GRUPO MEXICO Investor Relations : RESULTS THIRD QUARTER AND NINE MONTHS 2021 Raul Jacob NYSE Victor Pedraglio PLORE BVL + ( 602 ) 264-1375 southerncopper@southernperu.com.pe www.southerncoppercorp.com October 26 , 2021 Southern Copper Corporation ( NYSE and BVL : SCCO ) • 3Q21 net sales were $ 2,680.9 million , which represented a 25.9 % increase with regard to 3Q20 that was primarily attributable to higher market metal prices for our main products . Metal prices increased for copper ( + 43.6 % , LME ) , molybdenum ( + 143.5 % ) and zinc ( + 28.3 % ) . On a year - to - date basis , net sales were 43.9 % higher than in 2020 . • Net income in 3Q21 was $ 867.6 million , which represented a 71.5 % increase with regard to the $ 506.0 million registered in 3Q20 . The net income margin in 3Q21 was 32.4 % , versus 23.8 % in 3Q20 . On a YoY basis , net income was 161.6 % higher than in 2020. These significant improvements were attributable to higher sales and our strict cost control measures . • 3Q21 adjusted EBITDA was $ 1,709.3 million , which represented an increase of 51.8 % with regard to the $ 1,125.9 million registered in 3Q20 . The adjusted EBITDA margin in 3Q21 was 63.8 % versus 52.9 % in 3Q20 . Adjusted EBITDA in 9M21 was $ 5,126.2 million ; 96.1 % higher than in 9M20 . The adjusted EBITDA margin in 9M21 was 63.2 % vs 46.4 % in 9M20 . • Cash flow from operating activities in 9M21 was $ 3,064.7 million , which represented an increase of 181.6 % over the $ 1,688.0 million posted in 9M20 . This improvement was attributable to strong cash generation at our operations , which was driven by an uptick in metal prices and in cost - control efficiencies . • Copper production registered a slight decrease of 0.6 % in 3Q21 in quarter - on - quarter terms and hit the 245,146 - ton mark . Higher production at our Cuajone unit ( + 10 % ) was offset by lower levels at our other open pit operations due to variations in ore grade and recoveries . Copper production fell 2.8 % YoY to 720,658 tons . We expect copper production in 2021 to total 957,000 tons . By - product production : Molybdenum production increased ( + 5.4 % ) in 3Q21 compared to 3Q20 due to an uptick in production at both the Toquepala and Buenavista mines ; these results were partially offset by lower production at the Cuajone and La Caridad mines . Mined zinc production decreased 1.8 % this quarter due to lower production at the Charcas and Santa Barbara mines ; these results were partially offset by higher production at the San Martin mine . Mined silver production decreased by 8.8 % in 3Q21 after production fell at our IMMSA , Buenavista and Toquepala operations . • Operating cash cost per pound of copper , including by - product revenue credits , was $ 0.58 in 3Q21 , which represented an improvement of 9.9 % compared to the $ 0.65 reported in 3Q20 . In 9M21 , the operating cash cost per pound of copper , including by - product revenue credits , was $ 0.64 . This reflected an improvement of 7.5 % compared to the $ 0.69 reported in 9M20 . These results were mainly attributable to an increase in by - product revenue credits , which was partially offset by an uptick in production costs .