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Southern Copper Corporation November, 2014

1

I. Introduction

2

Management Presenter

Presenter Raul Jacob

Title

Vice President, Finance & CFO

3

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

4

Corporate Structure

100.0% (*)

99.29 % 99.95 %

15.9% (*)

Public Float

SCC Peru Branch Minera Mexico

(*) As of October 31, 2014

AMERICAS MINING

CORPORATION

84.1% (*)

China43%

Asia Ex China19%

Europe18%

USA8%

Japan5%

Other7%

Transport13%

Electrical & Electronic Products

34%

Construction31%

Industrial Machinery

13%

Consumer Products

9%

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

Solid Fundamentals Copper Consumption by Region

Brook Hunt Dec. 2012

CRU Jan 2014

Copper – The Best Fundamental Story in Commodities

5

► Copper has the best fundamentals in the basic materials space:

― Asia represents over 60% of world demand (China=43% and could reach 45% in 5 years)

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

― Additional refined production expected for 2015, will be partially offset by restocking in Europe, ore grade decay and scrap scarcity.

― Positive recovery of the world economy will support copper prices.

-

100,000

200,000

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LME COMEX shanghai LME Cash

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

7

II. Overview of Operations

8

Peru

Ilo

Mexico

Copper open pit mines

Underground mines

Smelters and Refineries

Key

Company Overview

Copper Reserves 1: 67.6 mmt 2013 Cash Cost: $ 1.00/lb.

2014 Estimates: Copper Production: 658 kt Sales: $ 5.9 B EBITDA: $ 2.9 B 49% of Sales 9M 2014 Cash Cost $ 1.03/Lb. #1 copper company by reserves 2

#6 copper producer 3 #12 copper smelter 3

#9 refinery 3

Source: Company Filings Notes: 1 Copper contained in reserves based on US$2.00 per pound of copper as of December 31, 2013 2 Based on available companies reports 3 Wood Mackenzie Limited 2013

Santa Barbara

Charcas

Taxco

San Luis Potosi

Santa Eulalia

San Martin

Cuajone

La Caridad

Buenavista

Toquepala Tia Maria

9

Copper Reserves as Reported SCC Highlights

►#1 mine life among copper producers

►#6 world’s largest producer of mined copper

►Highly diversified geographical presence

►Four large-scale open-pit mines

Mine Life

World’s Largest Copper Reserves

67.661.2

39.334.2 34.1

29.6

21.6

13.2 10.9

0

10

20

30

40

50

60

70

80

SC

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illito

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stra

ta

Ang

loA

mer

ican

Rio

Tin

to

Ant

ofag

asta

VA

LE

Cop

per R

eser

ves

(Mt)

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

Period Dec.31, 2013 Dec.31, 2013 Dec.31, 2013 Jun.30, 2013 Dec. 31, 2013 Dec.31, 2013 Dec. 31, 2013 Dec. 31, 2013 Dec. 31, 2013

Cu Price $2.00 N/A $2.00 $3.68 N/A N/A N/A $3.00 $3.64

105

59

34 3425 21 21 18

0

20

40

60

80

100

120

SCC SCC afterexpansion

AngloAmerican

Codelco Freeport BHPBilliton

Rio Tinto Xstrata

Geographic Footprint & Product Diversification

9M 2014 Revenue by Product 9M 2014 Revenue by Market

10

Copper77%

Silver5%

Molybdenum10%

Zinc3%

Acid2%

Other3%

(75 pp refined or further processed)

Mexico28%

Europe14%

United States18%Asia

17%

Brasil7%

Chile8%

Peru5%

Other3%

Operating Materials

19%

Fuel16%

Power19%

Labor14%

Maintenance15%

Other17%

11

Low Cost Operations

Cash Cost 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) 9M 2014

0.520.71

1.00 1.020.94

1.14

0.0

0.5

1.0

1.5

2011 2012 2013 1Q14 2Q14 3Q14

(US

$/lb

)

1.76 1.751.92 1.85 1.97 1.96

0.50

1.00

1.50

2.00

2.50

2011 2012 2013 1Q14 2Q14 3Q14

(US

$/lb

)

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III. Financial Overview

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SCC Financial Summary

(US$ MM) 2012 2013 LTM 2014 9M 2014

Copper Price (LME) US$ per pound 3.61 3.32 3.17 3.15Income Statement:Net Revenues $6,669 $5,953 $5,852 $4,316EBITDA 3,456 2,954 2,768 2,052EBITDA Margin 52% 50% 47% 47%Net Income 1,935 1,624 1,404 985Dividends paid per share 4.06 0.68 0.46 0.34Balance Sheet Statement:Cash & Equivalents $2,459 $1,673 $1,034 $1,034Total Assets 10,384 10,996 11,537 11,537Total Debt 1 4,214 4,205 4,206 4,206Total Liabilities 5,595 5,434 5,657 5,657Total Shareholders' Equity 4,765 5,534 5,848 5,848Cash Flow Statement:Capital Expenditures $1,052 $1,703 $1,624 $1,111Free Cash Flow 2 952 154 (10) 8 Dividends paid to common shareholders 3,140 574 384 283

Total Debt / EBITDA 1.1x 1.4x 1.5x 1.5x

1 Includes short-term and long-term debt2 Free Cash Flow defined as net cash from operating activities less capital expenditures.

Top Tier Margins and Conservative Leverage for Increased Financial Flexibility

9M 2014 Total Debt / EBITDA (x)

9M 2014 EBITDA Margin (%)

14

Source: Company Reports 1 9M 2014 2 1H 2014

No Amortizations Until 2015

Source: Company Reports 1 9M 2014 2 1H 2014

Solid Financial Performance

$1,200

$1,100

$1,000

$51

$300

$400

$200

2042

2040

2035

2028

2022

2020

2015

30%

34%

38%

40%

42%

47%

48%

Anglo

Freeport

Vale

Rio Tinto

Antofagasta

SCC

BHP

1

1

2

2

2

2

1

2.30

1.97

1.54

1.33

1.07

0.94

0.31

Anglo

Vale

SCC

Rio Tinto

BHP

Antofagasta

Freeport

2

1

1

2

2

1

2

1,703 1,711 1,850

1,100 1,100

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2013 2014 2015 2016 2017 15 Source: SCC

Toquepala Concentrator Expansion 1Q17 - $1.2B - 100K Tons Cu , 3.1K Tons Mo

2013-14 2015-17 Buenavista Molybdenum Plant 3Q13 - $38M - 2K Tons Mo

Buenavista: - Concentrator Plant 3Q15 - $1.4B -

188K Tons Cu, 2.6K Tons Mo - Mine equipment $505M

Los Chancas. - $1.2B - 100K Tons Cu, 7.5K Tons Mo

Los Chalchihuites 2016 - $140M, 26K Tons Cu

Buenavista Zinc Conc. 2016 - $332M 16K Tons Cu - 55K Tons Zn

Investment Program to Significantly Increase Production

Board approved Other projects

Buenavista SX/EW III 4Q14 - $444M 120K Tons Cu

Cuajone: Variable Cut-off Grade + HPGR 2H13 - $158M - 22K Tons Cu, 0.7K Tons Mo

2013-2017 Capex Program Overview (MM) 2013-2017 Copper Production Forecast (‘000 MT Cu)

Angangueo Polymetallic Mine – 1H16 - $175M - 10.4K Tons Cu, 7K Tons Zn, 4K Tons Pb, 2.4M Oz Ag Tia Maria SX/EW 1Q17 – $1.4B - 120K Tons Cu

El Arco Conc & SX/EW 2017 - $2.6B – 190K Tons Cu, 105K Oz Au

Empalme Cu Smelter 2017 - $812M – 350K Tons Cu Cont. Copper Refinery 2017 - $318M 350K Tons Cu Cont. Zinc Refinery - $600M – 120K Tons Zn

Cuajone Concentrator Expansion - $500M – 50K Tons Cu, 0.7 Tons Mo

Ilo Smelter & Refinery Expansion

617 658 758

912

1,151

0

200

400

600

800

1,000

1,200

2013 2014 2015 2016 2017

Pilares Mine 1Q17 – $189.5M - 40K Tons Cu

$2,529

$1,814

$2,865

$3,910 $3,773

$2,945

$2,052

52.1% 48.6% 56.0% 57.0% 57.0% 49.0% 47.0%

2008 2009 2010 2011 2012 2013 9M 2014

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

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(in US$ millions)

SCC EBITDA and % Margin

SCC’s Major Strengths

Cu price $3.16 $4.00 $3.61 $3.15$2.34 $3.42 $3.32