Southern Copper Corporation May, 2013

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1 Southern Copper Corporation May,

2 I. Introduction 1

3 Management Presenters Presenter Raul Jacob Title Vice President, Finance and CFO 2

4 Corporate Structure 100.0% (*) AMERICAS MINING CORPORATION 81.3% (*) Public Float 18.7% (*) % % SCC Peru Branch Minera Mexico (*) As of December 31,

5 Copper The Best Fundamental Story in Commodities Solid Fundamentals Copper has the best fundamentals in the basic materials space: Asia represents over 60% of world demand (China=41% and could reach 45% in 5 years) China and EM countries will continue growing, at a lesser pace, but still substantial. Additional production expected by year end or 2014 will be partially offset by restocking in US and Europe and ore grade decay. Improving view on macroeconomic concerns regarding the US and Europe. Together, they represent over 50% of world s economy and 27% of copper demand. Copper Consumption by Region CRU Jan 2013 LME Copper Cash Price vs. Inventories Copper Consumption by End-use , , , , , ,000 Industrial Machinery 13% Consumer Products 9% Transport 13% , Jan-09 4-Mar-09 1-May Jun Aug Oct Dec Feb Apr Jun Aug-10 7-Oct-10 3-Dec Jan Mar May Jul Sep Nov-11 LME COMEX shanghai LME Cash 13-Jan Mar-12 9-May-12 5-Jul Aug Oct Dec Feb Apr , ,000 - Brook Hunt Dic 2012 Construction 31% Electrical & Electronic Products 34% 4

6 Southern Copper Strengths Highest copper reserves of the industry Excellent organic growth projects Low cost, fully integrated operations Experienced management team Strong financial performance / investment grade Outstanding dividend history Good long-term copper & molybdenum fundamentals 5

7 II. Overview of Operations 6

8 Company Overview Copper Reserves 1 : 67.1 mmt Mexico 2013 Estimates: Copper Production: 650 kt Sales: $ 6.1 B EBITDA: $ 3.1 B 51% of Sales 1Q Cash Cost: $ 0.91/lb. Buenavista La Caridad San Martin Peru Santa Eulalia Santa Barbara Charcas San Luis Potosi Taxco #1 copper company by reserves 2 #5 copper producer 3 #11 copper smelter and refinery 3 Key Copper open pit mines Underground mines Smelters and Refineries Cuajone Source: Company Filings Notes: 1 Copper contained in reserves based on US$2.00 per pound of copper as of December 31, Based on available companies reports 3 Wood Mackenzie Limited 2012 Ilo Toquepala 7

9 World s Largest Copper Reserves Copper Reserves as Reported SCC Highlights Copper Reserves (Mt) SCC 63.6 Codelco 41.3 Freeport 34.5 BHP Billiton Anglo American Source 10K Annual Rep. 10K 20F Annual Rep. 20F Reserve Rep. 20F Annual Rep. Period Dec.31, 2012 Dec.31, 2012 Dec.31, 2012 Jun.30, 2012 Dec.31, 2012 Dec. 31, 2012 Dec. 31, 2011 Dec. 31, 2012 Dec. 31, 2012 Cu Price $2.00 N/A $2.00 $3.26 N/A N/A N/A $3.67 $2.75 Rio Tinto Xstrata VALE Antofagasta #1 mine life among copper producers #5 world s largest producer of mined copper Highly diversified geographical presence Four large-scale open-pit mines SCC Anglo American Mine Life 25 Codelco Freeport BHP Billiton Rio Tinto 18 Xstrata 8

10 Geographic Footprint & Product Diversification 1Q 2013 Revenue by Product 1Q 2013 Revenue by Market Silver 8% Acid Zinc 3% 3% Other 3% Europe 14% Molybdenum 6% Asia 17% United States 21% Copper 77% Other Latin American 1% Peru 6% Chile 6% Brasil 7% Mexico 28% 9

11 Low Cost Operations Cash Costs per Pound of Copper Produced Net of By-Products Low Cost Drivers Fully integrated low cost operations World class assets (US$/lb) Significant SX-EW production Strong by-product credits 0.0 Management focus on cost efficiency Q13 Operating Cash Cost per Pound of Copper Produced Cost Structure (1) Other 15% Operating Materials 19% (US$/lb) 1.50 Maintenance 16% Fuel 14% Q13 (1) 1Q 2013 Labor 16% Power 20% 10

12 III. Financial Overview 11

13 SCC Financial Summary (US$ MM) LTM Q 2013 Copper Price (LME) US$ per pound Income Statement: Net Revenues $6,819 $6,669 $6,486 $1,623 EBITDA 3,910 3,773 3, EBITDA Margin 57% 57% 55% 53% Net Income 2,336 1,935 1, Dividends paid per share Balance Sheet Statement: Cash & Equivalents $848 $2,459 $2,462 $2,462 Total Assets 8,063 10,384 10,777 10,777 Total Debt 1 2,746 4,214 4,214 4,214 Total Liabilities 4,026 5,595 5,693 5,693 Total Shareholders' Equity 4,015 4,765 5,058 5,058 Cash Flow Statement: Capital Expenditures $613 $1,052 $1,191 $317 Free Cash Flow 2 1, Dividends paid to common shareholders 2,080 3,140 3, Total Debt / EBITDA 0.7x 1.1x 1.2x 1.2x 12

14 Solid Financial Performance Top Tier Margins and Conservative Leverage for Increased Financial Flexibility 1Q 2013 EBITDA Margin (%) 1Q 2013 Total Debt / EBITDA (x) No Amortizations Until Antofagasta 57% Antofagasta $10 1 SCC 53% BHP $10 BHP 2 47% SCC $200 2 Rio Tinto 38% 2 Rio Tinto Vale 38% Freeport $400 1 Freeport 37% 1 Vale $51 2 Anglo 26% Anglo $1,000 2 Xstrata 26% 2 Xstrata $1,100 Source: Company Reports 1 1Q Source: Company Reports 1 1Q

15 Investment Program to Significantly Increase Production Board approved Other projects and on Buenavista Molybdenum Plant 1Q13 - $38M - 2K Tons Mo Cuajone: Variable Cut-off Grade + HPGR 2H13 - $158M - 22K Tons Cu, 0.7K Tons Mo Buenavista SX/EW III 1H14 - $444M 120K Tons Cu Buenavista: - Concentrator Plant 1H15 - $1.4B - 188K Tons Cu, 2.6K Tons Mo - Mine equipment $505M Toquepala Concentrator Expansion 1H15 - $1.05B - 100K Tons Cu, 3.1K Tons Mo Angangueo Polymetallic Mine 1H15 - $175M K Tons Cu, 7K Tons Zn, 4K Tons Pb, 2.4M Oz Ag Pilares Cu Mine 1H15 - $189M - 40K Tons Cu Tía María SX/EW 1H16 $1.2B - 120K Tons Cu Buenavista Zinc Conc $332M 16K Tons Cu - 55K Tons Zn Los Chalchihuites $140M, 26K Tons Cu El Arco Conc & SX/EW $2.6B 190K Tons Cu, 105K Oz Au Empalme Cu Smelter $812M 350K Tons Cu Cont. Copper Refinery $318M 350K Tons Cu Cont. Zinc Refinery - $600M 120K Tons Zn Los Chancas. - $1.1B - 100K Tons Cu, 7.5K Tons Mo Cuajone Concentrator Expansion - $500M 50K Tons Cu, 0.7 Tons Mo Ilo Smelter & Refinery Expansion Capex Program Overview (MM) Copper Production Forecast ( 000 MT Cu) 2,250 2,100 1,400 2,000 1,750 1,500 1,800 1,400 1,200 1, ,181 1,175 1,250 1, Source: SCC

16 Quebalix Plant III in Buenavista Mexico 15

17 New Molybdenum Plant in Mexico 16

18 SX EW III Mexico Solvent Extraction Area 17 17

19 SX EW III Mexico Electrolitic Refinery 18 18

20 New Copper Concentrator in Buenavista 19

21 HPGR Plant in Peru - Cuajone 20

22 Technological Improvement Project - Toquepala 21

23 Ilo 3 Sub Electrical Station 22

24 SCC s Major Strengths SCC is the Premier Copper Play World class assets in investment grade countries #1 in reserves of any company with various exploration prospects - Increasing copper production Capacity to deliver projects through flexible capital structure and significant cash generation capability Fully integrated low cost operations - Strategic investments focused on cost competitiveness Outstanding dividend history Experienced management with proven track record (in US$ millions) SCC EBITDA and % Margin $3,910 $3,773 $2,865 $1, % 56.0% 57.0% 57.0% $ % Q

25 Safe Harbor Statement 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 Mexican 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 Grupo Mexico s 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 forwardlooking statements, which speak only as of the date of this presentation. Grupo Mexico 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. 24

RESULTS FOURTH QUARTER AND YEAR 2015

RESULTS FOURTH QUARTER AND YEAR 2015 Investor Relations: Raul Jacob (602) 264-1375 southerncopper@southernperu.com.pe www.southerncoppercorp.com February 10, 2016 - Southern Copper Corporation (NYSE and