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COMPANY PRESENTATION February 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
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Contents 3 Introduction01 p. 04 Financial Overview 02 p. 09 03 p. 15 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 December 31, 2025 100.0% (*) 99.29 % 99.96 % 11.1% (*) Public Float Southern Perú Minera México 88.9% (*) 37% of EBITDA (*) 63% of EBITDA (*)
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Copper – The best Fundamental Story in Commodities 2024 COPPER CONSUMPTION BY REGION 6 2024 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 400K for 2026. Inventories at a day level. • Demand: China economic measures, resilient US economy, new demand from energy transition and AI technologies support long-term copper demand. Risk of impact of US tariffs. • Supply: Challenges for developing new deposits. Additional supply coming mainly from expansion of current operations. 2025 supply disruptions in Chile and Indonesia.
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Strong Fundamentals, Underpinned by Energy Transition Trends ____________________ 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) Copper consumption under the “net zero” scenario based on Wood Mackenzie’s Copper energy transition outlook 2024. “Others” includes other ICEs and grid-related. (2) Based on Wood Mackenzie’s “Copper 2021 update to 2040” Report. (3) Production and primary demand outlook based on Wood Mackenzie Global copper investment horizon outlook Q3 2024. (4) London Metal Exchange (LME) for historical prices and Bloomberg (as of December 31, 2024) for price forecasts, identified by Bloomberg as London Metals Exchange Copper 3-month analyst price forecasts, median of contributions. Investors should not rely on the forecasted prices, as actual prices may differ. 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(2) 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)(1) 29.5 15.2 1.6 11.7 8.4 66.4 2020 Organic demand growth Wind, Solar & ESS EVs & EV Chargers Others 2050 (1) 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)(3) $2.50 $2.21 $2.80 $2.96 $2.72 $2.80 $4.23 $4.00 $3.85 $4.15 $4.23 $4.33 $4.36 $0.0 $1.0 $2.0 $3.0 $4.0 $5.0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E 2026E 2027E Average Copper Price ($/lb)(4) Bloomberg Forecasts Global Copper Production and Primary Demand (Mt)(3) 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
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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. • 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 COMMUNITIES' DEVELOPMENT ESG RECOGNITIONS ✓ In 2025, approximately 5,000 residents benefitted from the health campaigns conducted in communities near our mining operations and projects in the regions of Moquegua, Arequipa, Apurímac and Cajamarca. ✓ Teams of specialists in internal medicine, ophthalmology, pediatrics and gastroenterology, among other disciplines, visited communities to provide comprehensive medical care. ✓ Buenavista del Cobre mine received accreditation from The Copper Mark for compliance with the Global Industry Standard on Tailings Management set forth by the International Council on Mining and Metals (ICMM). ✓ The SX-EW plant at the La Caridad Unit was awarded the “Casco de Plata” in the category of “Metallurgical Plant with up to 500 workers” in recognition of its status as one of the country’s safest operations. STRONG ESG COMMITMENT ✓ Our Peruvian branch, Southern Perú, was recognized by the Peruvian government as the mining company with the largest number of projects awarded under Public Works for Taxes in 2025. ✓ The Company is currently rolling out four investments for a total of $28 million that will benefit more than 5,000 people. Sustainability Health and Safety 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 51.1 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 @$5.00 x lb of Cu Copper production: 911 kt Sales: $12.8 B EBITDA: $7.5 B 59% 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, 2024 2 Resources exclusive of reserves. Copper contained in resources based on $3.80 per pound of copper as of December 31, 2024 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
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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, 2024 Dec. 31, 2024 Jun. 30, 2024 Dec. 31, 2024 Dec. 31, 2024 Dec. 31, 2024 Dec. 31, 2024 $3.30 $3.00 N/A N/A N/A N / A $3.00 51.1 44.0 29.4 23.5 20.2 19.3 16.3 0 10 20 30 40 50 60 SCC Freeport BHP Billiton Glencore Anglo American Rio Tinto First Quantum Copper Reserves (Mt)
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Geographic Footprint & Product Diversification 13 C O M P A N Y P R E S E N T A T I O N 2025 REVENUE BY PRODUCT 2025 REVENUE BY MARKET COPPER 76% MOLYBDENUM 11% ZINC 5% SILVER 4% SULPHURIC ACID 2% OTHER 2% MEXICO 32% ASIA 32% UNITED STATES 12% OTHER AMERICA 9% EUROPE 8% PERU 7%
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Cost Operations • Integrated and highly competitive cost operations. • World class assets. • Significant SX-EW production. • Strong by-product credits. • Management focus on cost efficiency and growth. LOW -COST DRIVERS 14 L12M COST STRUCTURE CASH COST PER POUND OF COPPER PRODUCED NET OF BY -PRODUCTS OPERATING CASH COST PER POUND OF COPPER PRODUCED C O M P A N Y P R E S E N T A T I O N 0.87 0.88 0.69 0.67 0.78 1.03 0.89 0.58 0.5 0.7 0.9 1.1 2018 2019 2020 2021 2022 2023 2024 2025 (US$/lb) 1.54 1.52 1.37 1.64 2.02 2.19 2.13 2.17 1.2 1.4 1.6 1.8 2 2.2 2.4 2018 2019 2020 2021 2022 2023 2024 2025 (US$/lb) Maintenance 25% Operating Materials 18% Fuel 15% Labor 13% Power 11% Other 18%
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Copper Mine Composite Costs Curve 15 2 Q 2 5 R E S U L T S 2024 COPPER MINE, COMPOSITE, C1 + SUST CAPEX GROUPED BY COMPANY AND RANKED BY C1 + SUST CAPEX Source: Wood Mackenzie Ltd. Dataset: 2025 Q2 C1 + Sust Capex C1+ Sust Cash Capex (c/lb) Paid Metal (Mlbs) Southern Copper Vale Freeport- KGHM Polska Miedz BHPMcMoRan Rio Tinto Anglo American Glencore Antofagasta Teck Resources Codelco Cerro Verde First Quantum Minerals Asarco 30,00020,00010,000 40,0000 0 600 400 200 -200
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16 Financial Highlights Solid Financial Performance Investment Program SCC’s Major Strengths Financial Overview
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Financial Highlights 17 C O M P A N Y P R E S E N T A T I O N (US$ MM) 2022 2023 2024 2025 2026E Copper Price (LME) US$ per pound 4.00 3.85 4.15 4.51 5.00 Income Statement: Net Revenues $10,048 $9,896 $11,433 $13,420 $12,776 EBITDA 5,365 5,029 6,406 7,822 7,490 EBITDA Margin 53% 51% 56% 58% 59% Net Income 2,638 2,438 3,377 4,335 3,962 Dividends paid per share 3.50 4.00 4.60 6.70 2.53 Balance Sheet Statement: Cash, Equivalent & Short -Term Investments $2,278 $1,751 $3,503 $4,909 $7,367 Total Assets 17,277 16,725 18,714 21,381 25,514 Total Debt 6,251 6,255 6,258 6,751 6,751 Total Liabilities 9,131 9,231 9,475 10,277 10,433 Total Shareholders' Equity 8,084 7,431 9,172 11,038 15,000 Cash Flow Statement: Capital Expenditures $949 $1,009 $1,027 $1,325 $1,925 Free Cash Flow ¹ 1,854 2,564 3,394 3,427 3,292 Dividends paid to common Shareholders 2,706 3,092 3,583 5,373 2,072 Total Debt / EBITDA 1.2x 1.2x 1.0x 0.9x 0.9x 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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56% 52% 51% 44% 39% 32% 31% Solid financial performance 18 Amortization Schedule 2024 Total Debt / EBITDA 2024 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 0.6x 0.7x 1.0x 1.0x 1.2x 1.9x 5.2x Rio Tinto BHP Billiton Freeport SCC Antofagasta Anglo American First Quantum $51 $1,000 $1,000 $1,100 $1,200 $1,500 $1,000 2028 2032 2035 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 $310 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 956 911 900 970 1,061 1,006 1,152 1,476 1,574 1,552 1,606 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2025 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E 2034E 2035E +68% 1,326 1,925 2,552 2,336 2,217 3,621 2,985 1,692 1,448 647 516 200 800 1,400 2,000 2,600 3,200 3,800 2025E 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E 2034E 2035E Average $1.9B
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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 $0.58 per pound in 2025. ▪ Outstanding dividend history. 2025 Dividend Yield 6.5% ▪ Experienced management team with proven track record. C O M P A N Y P R E S E N T A T I O N SCC EBITDA AND % MARGIN (IN US$ MILLIONS) $2.72 $2.80 $4.24 $4.00 $3.85 $4.15 $4.51 $5.00Cu price 3,527 3,869 6,853 5,365 5,029 6,406 7,822 7,490 48% 48% 63% 53% 51% 56% 58% 59% 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
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22 Exhibit 1 - Production Profile Production Units 2025 2026E 2027E 2028E 2029E 2030E 2031E Copper (kmt) 956.3 911.4 910.0 970.3 1,060.6 1,005.6 1,152.2 Mexico 545.1 538.4 519.8 518.2 548.8 524.0 546.1 Buenavista 414.5 412.2 372.8 366.4 370.9 342.4 341.5 Caridad 120.4 115.3 112.3 114.2 106.7 93.8 109.8 IMMSA 10.2 10.9 12.3 12.4 13.4 12.1 11.3 Pilares - - - - - - - Buenavista Zinc - - 22.4 25.3 22.0 18.7 19.6 El Pilar - - - - 35.7 38.7 36.7 El Arco - - - - - 18.3 27.1 Peru 411.1 373.0 390.1 452.1 511.8 481.7 606.2 Toquepala 248.4 225.4 221.4 216.0 262.3 225.6 166.2 Cuajone 162.8 147.6 138.8 117.5 126.4 135.3 137.9 Tía María - - 30.0 118.6 123.1 120.8 124.1 Los Chancas - - - - - - 178.0 Michiquillay - - - - - - - Molybdenum (kmt) 31.2 26.0 23.9 14.8 19.7 20.8 25.0 Mexico 16.2 14.5 13.3 8.7 9.4 8.9 10.5 Buenavista 5.7 5.0 2.5 2.7 3.1 2.5 2.1 Caridad 10.4 9.5 10.8 5.9 6.3 6.4 8.4 El Arco - - - - - - - Peru 15.0 11.6 10.6 6.2 10.3 12.0 14.5 Toquepala 10.6 8.3 7.1 3.4 7.3 9.0 5.7 Cuajone 4.4 3.3 3.5 2.8 3.0 3.0 3.4 Los Chancas - - - - - - 5.4 Michiquillay - - - - - - - Zinc (kmt) 177.0 165.5 176.2 165.2 165.2 155.4 134.6 IMMSA 60.2 61.3 86.4 86.9 86.7 86.7 70.1 Buenavista Zinc 116.8 104.3 89.9 78.2 78.5 68.7 64.5 Silver (moz) 24.2 23.7 25.2 24.6 26.1 24.8 24.2 Gold (koz) 71.6 70.6 68.5 67.1 69.0 65.2 91.6
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23 Exhibit 2 - Capex Profile