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Southern Copper Corporation May, 2012

1

I. Introduction

2

Management Presenters

Presenter Raul Jacob

Title CFO - Peruvian Operations & Company Comptroller

3

Corporate Structure

100.0% (*)

99.29 % 99.95 %

19.1% (*)

Public Float

SCC Peru Branch Minera México

(*) As of March 31, 2012

AMERICAS MINING

CORPORATION

80.9% (*)

-

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

4.50

5.00

2-Ja

n-09

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10-F

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2

LME COMEX shanghai LME Cash

Japan5%

Europe20%

USA8%

China39%

Asia Ex China19%

All Other9%

Transport Equipment

13%

Electrical33%

Building33%

Industrial Machinery

13%

Consumer Products

8%

LME Copper Cash Price vs. Inventories Copper Consumption by End-use

Solid Fundamentals Copper Consumption by Region

Brook Hunt June 2011

CRU Jan 2012

Copper – The Best Fundamental Story in Commodities

4

► Short-term macroeconomic concerns regarding the US and Europe. Together, they represent over 50% of world’s economy and 28% of copper demand.

► Fundamentals are still excellent for copper:

― Asia represents over 60% of world demand (China=39% and could reach 45% in 5 years)

― China and EM countries will continue growing, at a lesser pace, but still substantial.

― Limited production upside and falling grades result in a deficit market going forward for its third consecutive year.

― Estimated 2012 deficit of 500 K.

5

Southern Copper Strengths

►Highest copper reserves of any listed company

►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

6

II. Overview of Operations

7

Peru

Ilo

Mexico

Copper open pit mines

Underground mines

Smelters and Refineries

Key

Company Overview

Copper Reserves 1: 58.8 mmt

2012 Estimates: Copper Production: 640 kt Sales: $ 6.8 B EBITDA: $ 3.8 B 56% of Sales 1Q - 2012: $ 0.52/lb. #1 listed copper company by reserves 2

#7 copper producer 3 #7 copper smelter 3

#10 copper refined 3

Source: Company Filings Notes: 1 Copper contained in reserves based on US$2.00 per pound of copper as of December 31, 2011 2 Based on available companies reports 3 CRU information for January 2012

Santa Barbara

Charcas

Taxco

San Luis Potosi

Santa Eulalia

San Martin

Cuajone

La Caridad

Buenavista

Toquepala

8

Copper Reserves as Reported SCC Highlights

► #1 mine life among copper producers

► #7 world’s largest producer of mined copper

► Highly diversified geographical presence

► Four large-scale open-pit mines

Mine Life

World’s Largest Copper Reserves of any Listed Companies Support Substantial Organic Growth Potential

81

34 3425 21 21 18

0

20

40

60

80

100

SCC Anglo American

Codelco Freeport BHP Billiton

Rio Tinto Xstrata

58.8

42.4

27.5

20.9 20.717.3

10.8 8.8

0

10

20

30

40

50

60

70

SC

C

Free

port

BH

P B

illito

n

Ang

loA

mer

ican

Xst

rata

Rio

Tin

to

VA

LE

Ant

ofag

asta

Cop

per R

eser

ves

(Mt)

Source 10K 10K 20F Annual Rep. Reserve Rep. 20F 20F Annual Rep.

Period 12/31/11 12/31/11 06/30/11 12/31/11 12/31/11 12/31/11 12/31/11 12/31/11

Cu Price $2.00 $2.00 $2.97 N/A N/A N/A $3.25 $2.40

Geographic Footprint & Product Diversification

1Q 2012 Revenue by Product 1Q 2012 Revenue by Market

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Copper77%

Molybdenum8%

Silver7%

Zinc3%

Other2%

Acid3%

Europe20%

United States28%

Brasil7%Chile

8%

Mexico23%

Peru4%

Other Latin American

2%

Asia8%

Operating Materials

18%

Fuel14%

Power23%

Labor14%

Maintenance17%

Other14%

0.41

0.18

0.410.52

-0.3

-0.1

0.1

0.3

0.5

0.7

2009 2010 2011 1Q12

(US

$/lb

)

10

Low Cost Operations

Cash Costs per Pound of Copper Produced Net of By-Products

Cost Structure (1) Operating Cash Cost per Pound of Copper

Produced

Low Cost Drivers

Fully integrated low cost operations

World class assets

Significant SX-EW production

Strong by-product credits

Management focus on cost efficiency

(1) 1Q 2012

1.41 1.521.66

1.82

0.00

0.50

1.00

1.50

2.00

2009 2010 2011 1Q12

(US$

/lb)

11

Low Cost of Operations

Rio

Tin

to

-100

-50

0

50

100

150

200

250

0 5000 10000 15000 20000 25000 30000

C1

Cas

h C

ost (

c/lb

Cu)

Cumulative Production (Paid Mlbs Cu)

Global average SCC AMC

FreeportAntofagasta

XstrataCodelcoBHP

Anglo

Glencore

Source: Brookhunt

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III. Financial Overview

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SCC Financial Summary (US$ MM) 2010 2011 LTM 2012 1Q 2012

Copper Price (LME) US$ per pound 3.42 4.00 3.85 3.77Income Statement:Net Revenues $5,150 $6,819 $7,023 $1,806EBITDA 2,865 3,910 4,134 1,057EBITDA Margin 56% 57% 59% 58.5%Net Income 1,554 2,336 2,479 621Dividends paid per share 1.68 2.46 2.42 0.54 *

Balance Sheet Statement:Cash & Equivalents $2,193 $848 $1,518 $1,518Total Assets 8,128 8,063 8,494 8,494Total Debt 1 2,760 2,746 2,746 2,746Total Liabilities 4,218 4,026 3,999 3,999Total Shareholders' Equity 3,890 4,015 4,472 4,472Cash Flow Statement:Capital Expenditures $409 $613 $717 $177Free Cash Flow 2 1,512 1,457 1,558 542Dividends paid to common shareholders 1,428 2,080 1,747 160

Total Debt / EBITDA 1.0x 0.7x 0.7x 0.6x

1 Includes short-term and long-term debt2 Free Cash Flow defined as net cash from operating activities less capital expenditures* Includes Cash Dividend of US$0.19 per share of common stock and Stock Dividend of 0.0107 shares of common stocks per share of common stocks.

34%

43%

44%

44%

47%

52%

59%

60%

Xstrata

Freeport

Anglo

Vale

Rio Tinto

BHP

SCC

Antofagasta

1

2

2

2

2

1

2

1

Top Tier Margins and Conservative Leverage for Increased Financial Flexibility

2012 Total Debt / EBITDA (x) 2012 EBITDA Margin (%)

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Source: Company Reports 1 1Q 2012 2 10K 2011 Results

No Amortizations Until 2015

Source: Company Reports 1 1Q 2012 2 10K 2011 Results

Solid Financial Performance

$1,100

$1,000

$51

$400

$200

$10

$10

2040

2035

2028

2020

2015

2013

2012

0.96

0.89

0.80

0.76

0.65

0.58

0.44

0.43

Anglo

Xstrata

Vale

Rio Tinto

SCC

Antofagasta

Freeport

BHP

1

2

2

2

2

1

1

2

640 660770

1,000 1,100

0

200

400

600

800

1000

1200

2012 2013 2014 2015 2016

1,500 1,600

1,300

950

630

-

250

500

750

1,000

1,250

1,500

1,750

2012 2013 2014 2015 2016 15 Source: SCC

Tía María SX/EW 1H15 - $1.0B 120K Tons Cu

Toquepala Concentrator Exp. 1H14 - $850M 100K Tons Cu – 3.1K Tons Mo

2012 -2013 2014 - 2015 2017 2018 and on

Buenavista Molybdenum Plant 1Q13 - $38M 2K Tons Mo

Pilares Mine – Cu 2H13 - $189.5M 40K Tons Buenavista – Cu Concentrator

1H15 - $1.4B 188K Tons, 2.6K Moly

Ilo Smelter and Refinery Expansion Los Chancas Buenavista Zinc Refinery

Empalme Cu Refinery 2Q17 - $500M 330K Tons Cap.

Empalme Cu Smelter 2Q17 - $800M 350K Tons Cap.

Investment Program to Significantly Increase Production

Board approved Other projects

Buenavista SX/EW III 2H13 - $444M 120K Tons Cu

Cuajone: Variable Cut-off Grade + HPGR 3Q13 - $51M 22K Tons Cu + 0.7K Tons Mo

El Arco 1H17 -$2,600M 190K Tons Cu and 105K oz Au

2012-2016 Capex Program Overview (MM) 2012-2016 Copper Production Forecast (‘000 MT Cu)

Angangueo – 2H14 - $131M 36K Cu Conc., 41K Zn Conc., 4.5M oz Ag.

$2,529

$1,814

$2,865

$3,910

$1,05752.1% 48.6% 56.0% 57.0%

58.5%

2008 2009 2010 2011 1Q 2012

SCC is the Premier Copper Play • World class assets in investment grade countries • #1 in reserves of any listed 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

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(in US$ millions) SCC EBITDA and % Margin

SCC’s Major Strengths

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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 forward-

looking 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.

Safe Harbor Statement