Grupo Mexico B de C : 01.2nd Quarter 2022 Report

RESULTS

Second Quarter 2022

Mexico City, July 26th, 2022

Grupo Mexico, S.A.B de C.V. ("Grupo Mexico"- BMV: GMEXICO)

Grupo Mexico continues to focus all its efforts on investing responsibly and efficiently to develop sustained long- term growth as it has done over the past 20 years, as well as generating specialized and well-paid jobs for thousands of people in the countries where we operate.

Consolidated revenues for 2Q22 reached US$6.96 billion, down 5.2% vs. the same period of 2021. The Mining Division reported US$5.56 billion in revenues in 2Q22, down 7.8% vs. 2Q21, mainly due to non-recurringevents such as the illegal blockade of our Cuajone operation by individuals not related to the company, which resulted in a drop in production equivalent to US$217 million, lower ore grades equivalent to US$240 million, and a mark-to-market adjustment to open sales, worth US$104 million. In the Transportation Division, revenues grew 6.3% during the year compared to 2021, totaling US$1.31 billion. The Infrastructure Division achieved US$315 million in accrued net revenues, an increase of 15.9% over 2021.

The Mining Division had a 28.1% increase in net operating cash cost on a global level, from US$0.82 in 1H21 to

US$1.05 in 1H22, due to higher production costs, triggered by the global inflationary environment and a decrease in copper production. Nonetheless, we remain the company with the best cost in the copper industry worldwide.

Accrued EBITDA totaled US$3.63 billion, 20.4% below the same period of the previous year, with a 52.0% margin, due to the decrease in sales, mentioned above, as a result of lower copper production and lower volumes transported, as well as an overall increase in the cost of sales of all three Divisions. During 1H21, the Mining Division obtained US$2.92 billion in EBITDA, 24.6% lower than in the same period of 2021. The Transportation Division posted US$592 million in EBITDA for the quarter, up 6.4% from the previous year. In the Infrastructure Division, accrued EBITDA reached US$126 million, 7.6% higher compared to 1H21.

Accrued net profit totaled US$1.41 billion. Consolidated profit in 2Q22 was US$490 million.

Capital investments during 2Q22 totaled US$352 million. Accrued in 2022, they total US$666 million. Our investment program for 2022 is US$2.16 billion in different projects throughout the three Divisions, which will be sources of economic revival and job creation as the pandemic allows.

Dividend. - On July 22, 2022, the Board of Directors decreed the payment of a cash dividend of $1.00 peso per share outstanding, to be made in a single installment on August 29, 2022.This dividend implies an annualized dividend yield of 5.1%.

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SECOND QUARTER RESULTS 2022

All figures are stated in dollars ("US$"), currency of the United States of America, under U.S. GAAP, except where otherwise noted In order to showcase the performance of our operations, we are including the concept of profit before shareholding.

Net profit includes the capital gain/loss of the shares, as well as their effect on deferred taxes.

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Relevant Events

Grupo México

Grupo México is the third largest company in the country in terms of market capitalization and securitization, as well as the second company in terms of tax payments in Mexico. Additionally, we are among the companies with the highest profit sharing in both Mexico and Peru.

To date, Grupo México has 29,900 direct employees and more than 110 thousand highly skilled and well-paid indirect employees. Grupo México is the fifth largest copper producer in the world with the lowest cash cost in the industry worldwide.

ESG. - Sustainability is a key pillar of Grupo México's business model.

During the second quarter of the year, Grupo Mexico, as well as the Transportation Division, joined the S&P Global sustainability index called S&P/BMV Total Mexico ESG. Moreover, Southern Copper Corporation was recognized, joining the S&P/BVL Peru General ESG index by the same agency. Both indices are integrated by the companies with the best environmental, social, and governance (ESG) performance based on their results in the Corporate Sustainability Assessment (CSA) by the same agency.

Grupo Mexico has had an upward trend in the CSA, going from 49/100 points in 2018 to 61/100 in 2021, an

increase of 24%. These results have allowed it to be part of the Dow Jones Sustainability Index in the Latin American Integrated Market region (MILA, for its Spanish acronym) since 2017 and the Sustainability Yearbook 2022. We will continue to work on managing our sustainability performance to ensure a continuous improvement that will allow us to maintain and increase these types of awards.

The certification of environmental, occupational safety & health, and quality management systems enables the company to reinforce a preventive culture by following best practices in risk management. Grupo Mexico continues to make progress in the certifications of our mining units under ISO 45001 and 14001 standards. During the second quarter of 2022, the Maritime Terminal in Guaymas, Mexico, received ISO 45001 certification. On the other hand, the Charcas unit in Mexico is the first of our underground mines to obtain ISO 14001 certification. The Infrastructure Division obtained the ISO 14001, 45001, and 9001 certifications in the Engineering business line. With this, the division has 60% of the certified business lines.

The company promoted sustainability from different fronts. The Metallurgical Complex in Sonora, where it refines and melts mined material, was recognized in the ranking of the 10 Best Places to Work for Women. With this recognition, this plant consolidates itself as an employer of choice for the best professionals in the country and strengthens an organizational culture of safety, trust, and certainty for all its employees. In addition, this industrial complex was recognized with the National Export Award 2021, in the category of Large Industrial Exporting Companies, for its contribution to the country's foreign trade and international business. This distinction was possible thanks to the responsible production of essential raw materials and care for the environment, as well as to the economic benefits and support for the well-being of its workers and families.

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In Peru, the Cularjahuira dam was inaugurated (US$11.5 million) as a result of the work and joint investment between the company, the authorities, and the Camilaca community. This work will help strengthen agricultural activities in the Candarave province, close to the Toquepala mining operations, which will be complemented by the new Callazas dam (US$35 million) to be financed under the Tax Works modality. These projects are taking place within the framework of a historic record of tax contributions from Peru's operations in favor of the regional

governments of Moquegua and Tacna.

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Relevant Events

Mining Division

Projects

Over the years, Grupo México has proven the ability to have an organic growth portfolio through various stages of the copper price cycle. It continues to focus on being a global industry cost leader and operating with efficiency and financial discipline. Grupo México's projects are a source of employment and wellbeing in the communities and countries where it operates.

Grupo Mexico has worked on several projects in Mexico and Peru with our approved capital investment program of US$7.20 billion, of which we have already invested US$5.40 billion.

Considering the projects of Buenavista Zinc, Pilares, El Pilar and El Arco in Mexico, as well as Tia Maria, Los Chancas, and Michiquillay in Peru, the total investment program for both countries amount to US$10.00 billion.

In regards to our Cuajone Operations, on April 30th, the Peruvian government issued a Ministerial Resolution to establish a round table with members of the government, community, and company officials to better understand all the stakeholders' concerns. To date, nine round tables and three direct meetings have been held with the community. The Company has proposed investment plans in social programs that address the needs expressed by the communities and has declared an interest in buying land near the Cuajone operations to establish a buffer zone to protect the facilities and production at a later date. The Company strongly believes that the programs it has proposed will contribute significantly and sustainably to the progress and well-being of the communities. These efforts will be complemented with positive impacts through the "Works for Taxes" tool, which will finance public investments in necessary infrastructure and services.

Projects in Mexico

Buenavista Zinc, Sonora. - This project is located within the Buenavista deposit in Sonora and consists of the construction of a concentrator with a production capacity of 100,000 tons of zinc and an additional 20,000 tons of copper per year. The engineering study has been completed. To continue with the project, greater preventive measures against COVID-19 have been implemented. The progress of equipment purchases has reached 99%, and the main equipment is already in place. In addition, site construction work is underway. The project has all the necessary permits, and this investment has a budget of US$413 million. Up to June 30, 2022, we have invested $264.9 million in this project. It is expected to become operational in the second half of 2023. At the completion of this new concentrator, zinc production capacity will be doubled, and it is estimated that it will generate 490 direct and 1,470 indirect jobs.

Pilares, Sonora. - This project is located in Sonora, 6 km away from the La Caridad mine, and consists of an open pit mine with an annual production capacity of 35,000 tons of copper in concentrates. A 25-meter-wide road was built for mining trucks that will transport the ore between the Pilares pit and the primary crushing plants of La Caridad. This project will significantly improve the total ore grade (combining the expected 0.78% from Pilares with the 0.34% from La Caridad). The investment budget is US$159 million, of which we have invested US$80.9 million so far, and the project is expected to become operational in the last quarter of 2022.

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