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COMPANY PRESENTATION September 2026
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Safe Harbor Statement The material in this presentation contains certain statements that are neither reported financial results nor other historical information. These estimates are forward-looking statements within the meaning of the safe- harbor provisions of the securities laws. These forward-looking estimates are subject to risk and uncertainties that could cause actual results to differ materially from the expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Southern Copper’s (SCC) ability to control or estimate precisely, such as future market conditions, commodity prices, the behavior of other market participants and the actions of governmental regulators. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. SCC does not undertake any obligation to publicly release any revision to these forward-looking estimates to reflect events or circumstances after the date of this presentation. C O M P A N Y P R E S E N T A T I O N 2
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Contents 3 Introduction01 p. 04 Financial Overview 02 p. 10 03 p. 16 Overview of Operations C O M P A N Y P R E S E N T A T I O N
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4 Introduction Corporate Structure Copper Fundamentals SCC’s Strengths ESG
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Corporate Structure 5 C O M P A N Y P R E S E N T A T I O N (*) As of June 30, 2026 100.0% (*) 99.29 % 99.96 % 11.1% (*) Public Float Southern Perú Minera México 88.9% (*) 36% of EBITDA (*) 64% of EBITDA (*)
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Copper – The best Fundamental Story in Commodities 2025 COPPER CONSUMPTION BY REGION 6 2025 COPPER CONSUMPTION BY END -USE COPPER MARKET SOLID FUNDAMENTALS LME COPPER CASH PRICE VS INVENTORIES C O M P A N Y P R E S E N T A T I O N Source: Wood Mackenzie Source: Wood Mackenzie • Expecting market deficit of 350K for 2026. Inventories at 15 days of consumption. • Demand: China economic measures, resilient US economy, new demand from energy transition and AI technologies support long-term copper demand. Impact of US-Iran war. • Supply: Challenges for developing new deposits. Additional supply coming mainly from expansion of current operations. Possible recovery of production Grasberg/Cobre Panama. - 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 3-Jan-22 29-Apr-22 24-Aug-22 19-Dec-22 13-Apr-23 9-Aug-23 4-Dec-23 1-Apr-24 25-Jul-24 19-Nov-24 17-Mar-25 10-Jul-25 4-Nov-25 2-Mar-26 25-Jun-26 LME COMEX shanghai LME Cash
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Strong Fundamentals, Underpinned by Energy Transition Trends With Rising Demand and Potentially Constrained Supply Growth, Copper is One of the Most Critical Minerals for the Energy Transition Trend Copper Intensities by Fuel Type(1) 2 t/MW 3 t/MW 2 t/MW 5 t/MW 10 t/MW 4 t/MW 4 t/MW 2 t/MW Coal Gas Oil Wind - onshore Wind - offshore Solar Nuclear Hydro Increase in Total Copper Demand (Mt)(3) 29.5 15.2 1.6 11.7 8.4 66.4 2020 Organic demand growth Wind, Solar & ESS EVs & EV Chargers Others 2050 12.1 11.2 10.5 10.0 9.3 7.5 6.4 5.3 4.6 3.9 2.9 2.2 1.2 0.6 (0.0) (0.1) (0.0) 0.3 0.3 0.2 0.4 2040E 2039E 2038E 2037E 2036E 2035E 2034E 2033E 2032E 2031E 2030E 2029E 2028E 2027E 2026E 2025E 2024E 2023 2022 2021 2020 CAGR:+2.7% Copper Market Balance, Base Case Production Deficit (Surplus) (Mt)(2) Global Copper Production and Primary Demand (Mt)(2) 0 5 10 15 20 25 30 35 40 45 2000 2004 2008 2012 2016 2020 2024E 2028E 2032E 2036E 2040E Possible Projects Production Capability Probable Projects Production Capability Base Case Production Capability Primary Copper Demand 7 C O M P A N Y P R E S E N T A T I O N Source: Wood Mackenzie Copper energy transition outlook 2024, Wood Mackenzie Copper 2021 update to 2040 Report, Wood Mackenzie Global copper investment horizon outlook Q3 2024 and Bloomberg. (1) Based on Wood Mackenzie’s “Copper 2021 update to 2040” Report. (2) Production and primary demand outlook based on Wood Mackenzie Global copper investment horizon outlook Q3 2024. (3) Copper consumption under the “net zero” scenario based on Wood Mackenzie’s Copper energy transition outlook 2024. “Others” includes other ICEs and grid- related.
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Southern Copper Strengths 8 • Highest copper reserves of any listed company. • Excellent organic growth projects. • Low cost, integrated operations. • Experienced management team. • Strong financial performance / investment grade since 2005. • Outstanding dividend history. • Sound ESG strategy at our operations / projects. • Good long-term copper & by-product fundamentals. C O M P A N Y P R E S E N T A T I O N
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ESG at the Core of our Strategy C O M P A N Y P R E S E N T A T I O N LOCAL COMMUNITIES STRONG ESG COMMITMENT ✓ Our company joined the Global Social Initiative of the Mexican Government to promote integration and wellbeing through sports. Our efforts have brought together 2,629 participants who are organized into 206 teams of employees and community members. ✓ Alongside these initiatives, 580 volunteers created 14 community murals and recondition sports venues. These programs reach approximately 41% of the youth population living near our operations in Mexico. ✓ Over the last five years, the Cularjahuira dam, located in Candarave in southern Peru, has transformed the lives of 18% farmers of the area and their families by providing year-round access to water. ✓ According to the Ministry of Agricultural Development, crop yields in the area have risen around 20%. This infrastructure, was built by our company through an alliance with the Peruvian state and local farmers. HUMAN DEVELOPMENT ✓ Students from the Nacozari and Esqueda schools, in Sonora, Mexico, performed admirably in national and international competitions, including the Mexican Mathematics Olympics and Infomatrix 2026. ✓ These achievements reflect the company’s commitment to education and the development of STEM skills. SCC currently benefits three thousand students through the 11 education centers it operates in Mexico and Peru. Sustainability Water Management Communities
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10 Company Overview Copper Reserves Geographic Footprint & Product Diversification Low Cost Operations Copper Production Cash Cost Overview of Operations
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11 C O M P A N Y P R E S E N T A T I O N Company Overview 49.4 CASH COST Peru – 43% Ilo Mexico – 57% Santa Barbara Charcas Taxco San Luis Potosi Santa Eulalia San Martin Cuajone – 163 kt La Caridad – 120 kt Buenavista – 415 kt Toquepala – 248 kt Tia Maria El Arco El Pilar Los Chancas Michiquillay 2026 ESTIMATES @$6.00 x lb of Cu Copper production: 917 kt Sales: $14.9 B EBITDA: $9.5 B 64% of sales mmt #1 Copper Company by reserves and resources 3 #5 Copper producer 4 #10 Copper smelter 4 #7 refinery 4 COPPER RESERVES ¹ ACHIEVEMENTS Source: Company Filings Notes: 1 Copper contained in reserves based on US$3.30 per pound of copper as of December 31, 2025 2 Resources exclusive of reserves. Copper contained in resources based on $3.80 per pound of copper as of December 31, 2025 3 Based on available companies reports 4 Wood Mackenzie Limited COPPER RESOURCES 265.6 mmt $0.58/ lb 2025: Key Copper open pit mines Underground mines Smelters and Refineries Projects IMMSA– 10 kt 2026 YTD: $-0.03/ lb
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Largest Copper Reserves of any Listed Company • #1 mine life among copper producers • #5 world’s largest producer of mined copper • Diversified geographical presence • Four large-scale open-pit mines • A strong pipeline of world class copper greenfield projects and several other opportunities SCC HIGHLIGHTS 12 MINE LIFE COPPER RESERVES AS REPORTED C O M P A N Y P R E S E N T A T I O N Cu price: Period: Source: 10K 10K 20F Reserves Rep. Reserves Rep. Annual Rep. Annual Rep. Dec. 31, 2025 Dec. 31, 2025 Jun. 30, 2025 Dec. 31, 2025 Dec. 31, 2025 Dec. 31, 2025 Dec. 31, 2025 $3.30 $3.25 N/A N/A N/A N / A $3.00 49.4 35.7 30.2 23.4 21.1 18.8 15.9 0 10 20 30 40 50 60 SCC Freeport BHP Billiton Glencore Anglo American Rio Tinto First Quantum Copper Reserves (Mt)
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Geographic Footprint & Product Diversification 13 C O M P A N Y P R E S E N T A T I O N 6M 2026 REVENUE BY PRODUCT 6M 2026 REVENUE BY MARKET COPPER 74% MOLYBDENUM 10% SILVER 6% ZINC 5% SULPHURIC ACID 2% OTHER 3% MEXICO 32% ASIA 27% UNITED STATES 16% OTHER AMERICA 9% EUROPE 9% PERU 7%
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Cost Operations • Integrated and highly competitive cost operations. • World class assets. • Significant SX-EW production. • Strong by-product credits. • Management focus on cost efficiency and growth. LOW -COST DRIVERS 14 L12M COST STRUCTURE CASH COST PER POUND OF COPPER PRODUCED NET OF BY -PRODUCTS OPERATING CASH COST PER POUND OF COPPER PRODUCED C O M P A N Y P R E S E N T A T I O N Maintenance 22% Operating Materials 20% Fuel 16% Labor 13% Power 11% Other 18% 1.52 1.37 1.64 2.02 2.19 2.13 2.17 2.31 2.29 1.2 1.4 1.6 1.8 2 2.2 2.4 2019 2020 2021 2022 2023 2024 2025 1Q26 2Q26 (US$/lb) 0.88 0.69 0.67 0.78 1.03 0.89 0.58 -0.11 0.05 -0.2 0 0.2 0.4 0.6 0.8 1 2019 2020 2021 2022 2023 2024 2025 1Q26 2Q26 (US$/lb)
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Copper Mine Composite Cost Curve 2025 Copper Mine, Composite, C1 + SUST CAPEX -200 0 200 400 0 10,000 20,000 30,000 40,000 Paid Metal (MLBS) Vale Freeport-McMoRan BHP Group Anglo American plc KGHM Polska Miedz Glencore First Quantum Minerals Antofagasta plc Cerro Verde Codelco Asarco C1 + Sust Capex Rio Tinto 600 -400 Grouped by Company and Ranked by C1 + SUST CAPEX Source: Wood Mackenzie Ltd, Dataset 2025 Q4 C O M P A N Y P R E S E N T A T I O N 15
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16 Financial Highlights Solid Financial Performance Investment Program SCC’s Major Strengths Financial Overview
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Financial Highlights 17 C O M P A N Y P R E S E N T A T I O N (US$ MM) 2022 2023 2024 2025 2026E Copper Price (LME) US$ per pound 4.00 3.85 4.15 4.51 6.00 Income Statement: Net Revenues $10,048 $9,896 $11,433 $13,420 $14,932 EBITDA 5,365 5,029 6,406 7,822 9,486 EBITDA Margin 53% 51% 56% 58% 64% Net Income 2,638 2,438 3,377 4,335 5,207 Dividends paid per share 3.50 4.00 4.60 6.70 8.63 Balance Sheet Statement: Cash, Equivalent & Short -Term Investments $2,278 $1,751 $3,503 $4,909 $9,268 Total Assets 17,277 16,725 18,714 21,381 27,847 Total Debt 6,251 6,255 6,258 6,751 7,994 Total Liabilities 9,131 9,231 9,475 10,277 12,044 Total Shareholders' Equity 8,084 7,431 9,172 11,038 15,717 Cash Flow Statement: Capital Expenditures $949 $1,009 $1,027 $1,325 $2,017 Free Cash Flow ¹ 1,854 2,564 3,394 3,427 4,579 Dividends paid to common Shareholders 2,706 3,092 3,583 5,373 7,138 Total Debt / EBITDA 1.2x 1.2x 1.0x 0.9x 0.8x Net Debt / EBITDA 0.7x 0.9x 0.4x 0.2x 0.0x ¹ Free Cash Flow defined as net cash from operating activities less capital expenditures.
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59% 59% 50% 37% 34% 32% 20% Solid financial performance 18 Amortization Schedule 2025 Total Debt / EBITDA 2025 EBITDA Margin Source: Bloomberg Consensus Source: Company Reports and Bloomberg Consensus TOP TIER MARGINS AND CONSERVATIVE LEVERAGE FOR INCREASED FINANCIAL FLEXIBILITY C O M P A N Y P R E S E N T A T I O N 0.9x 1.0x 1.1x 1.3x 1.5x 3.5x 4.2x SCC BHP Billiton Rio Tinto Freeport Antofagasta First Quantum Anglo American $51 $1,000 $1,000 $1,250 $1,100 $1,200 $1,500 $1,000 2028 2032 2035 2036 2040 2042 2045 2050
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Investment Program to Significantly Increase Production 19 P R O J E C T S PERU MEXICO Board Approved | +156k tons Cu Other Projects | +545k tons Cu C O M P A N Y P R E S E N T A T I O N 2027 20332030 2031 EMPALME SMELTER ▪ US $1.1 B TIA MARIA ▪ 120k tons Cu ▪ US $1.8 B ILO SMELTER ▪ US $1.3 B MICHIQUILLAY ▪ 225k tons Cu ▪ US $2.5 B EL ARCO ▪ 190k tons Cu ▪ 105k Oz Au ▪ US $2.9 B LOS CHANCAS ▪ 130k tons Cu ▪ 7.5k tons Mo ▪ US $2.6 B 2029 EL PILAR ▪ 36k tons Cu ▪ US $551 MM 2032
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Investment Program to Significantly Increase Production 20 C O M P A N Y P R E S E N T A T I O N 2025 -2035 COPPER PRODUCTION FORECAST (‘000 MT CU) 2025 -2035 CAPEX PROGRAM OVERVIEW 956 917 910 967 1,056 1,003 1,150 1,475 1,574 1,551 1,605 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2025 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E 2034E 2035E +68% 1,322 2,017 2,698 2,560 2,351 3,770 3,178 1,838 957 557 557 200 800 1,400 2,000 2,600 3,200 3,800 2025 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E 2034E 2035E Average $2.0B
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21 SCC’s Major Strengths SCC IS THE PREMIER COPPER PLAY ▪ World class assets in investment grade countries. ▪ #1 in reserves of any listed company with various organic growth prospects. • Copper production heading towards 1.6M Tons by 2035. ▪ Investments focused on cost competitiveness and value generation for shareholders. ▪ Capacity to deliver projects through flexible capital structure and significant cash generation capability. ▪ Integrated and highly competitive cost operations. Cash cost of $0.58 per pound in 2025. ▪ Outstanding dividend history. 2025 Dividend Yield 6.5% (Cash = 3.0%). ▪ Experienced management team with proven track record. C O M P A N Y P R E S E N T A T I O N SCC EBITDA AND % MARGIN (IN US$ MILLIONS) $2.72 $2.80 $4.24 $4.00 $3.85 $4.15 $4.51 $6.00Cu price 3,527 3,869 6,853 5,365 5,029 6,406 7,822 9,486 48% 48% 63% 53% 51% 56% 58% 64% 0% 50% 100% 150% 200% 250% 2019 2020 2021 2022 2023 2024 2025 2026E - 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000
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22 Production and Capex Guidance C O M P A N Y P R E S E N T A T I O N Production Units 2025 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E 2034E 2035E Copper (kmt) 956.3 917.0 910.0 967.4 1,056.4 1,002.6 1,150.3 1,474.9 1,573.6 1,550.6 1,605.0 Mexico 545.1 545.7 517.1 515.3 544.6 520.9 544.1 555.0 702.1 707.9 733.9 Peru 411.1 371.2 392.8 452.1 511.8 481.7 606.2 920.0 871.5 842.7 871.1 Molybdenum (kmt) 31.2 27.9 23.9 14.8 19.7 20.8 25.0 34.2 32.8 30.0 32.9 Mexico 16.2 15.0 13.3 8.7 9.4 8.9 10.5 9.9 12.2 12.3 12.6 Peru 15.0 12.8 10.6 6.2 10.3 12.0 14.5 24.3 20.6 17.7 20.3 Zinc (kmt) 177.0 163.9 153.9 141.6 142.1 131.8 126.9 116.5 116.8 116.6 120.2 Silver (moz) 24.2 23.9 22.5 21.7 22.2 21.0 21.6 23.4 23.6 23.8 24.1 Gold (koz) 71.6 72.5 66.1 64.1 66.2 62.2 90.1 203.4 329.9 302.6 291.0 2025 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E 2034E 2035E SCC 1,321.7 2,016.9 2,698.0 2,560.1 2,351.5 3,770.3 3,177.6 1,837.6 957.0 557.4 557.4 Mexico 797.1 848.8 961.3 1,462.5 1,122.8 1,476.1 1,740.2 390.3 282.4 282.4 282.4 Current Operations 781.4 817.6 659.5 399.7 316.9 282.4 282.4 282.4 282.4 282.4 282.4 El Pilar 2.4 18.5 294.2 216.9 19.2 - - - - - - El Arco 13.3 12.6 7.6 845.9 720.3 874.4 1,088.6 - - - - Empalme Smelter - - - - 66.4 319.3 369.2 107.9 - - - Peru 524.6 1,168.1 1,736.7 1,097.6 1,228.7 2,294.2 1,437.4 1,447.3 674.6 275.0 275.0 Current Operations 353.9 615.5 534.4 317.4 271.4 271.4 271.4 271.4 275.0 275.0 275.0 Tía María 117.1 508.3 1,001.7 160.0 - - - - - - - Michiquillay 7.2 30.5 190.6 337.5 336.4 1,129.7 389.5 468.1 - - - Los Chancas 46.4 13.8 10.0 282.7 615.9 718.2 394.7 322.1 - - - Ilo Smelter - - - - 5.0 174.9 381.8 385.7 399.6 - - Capex (US$ MM)