Grupo México (GMEXICOB) investor relations material

Executive summary

• Achieved strong financial performance in 3Q25, with double-digit revenue and EBITDA growth year-over-year, supported by robust mining operations and improved cost efficiency.

• Revenues for the first nine months of 2025 reached $13.02 billion, up 5.7% year-over-year, driven by higher mining sales and commodity prices, despite declines in transportation and infrastructure revenues.

• Maintained a solid balance sheet with low leverage, high fixed-rate debt, and significant cash reserves.

• Advanced major mining projects in Peru, Spain, and Mexico, with key permits and construction milestones reached.

• Continued progress in ESG initiatives, including improved sustainability ratings, emissions reductions, and community health programs.

Financial highlights

• 3Q25 revenue rose 11.3% year-over-year to $4.59B; 9M25 revenue up 5.7% to $13.02B.

• 3Q25 EBITDA increased 15.3% to $2.51B; 9M25 EBITDA up 9.4% to $7.08B.

• Net income for the first nine months was $3.31 billion, up 12.9% year-over-year; profit margin improved to 25.4%.

• Net cash cost per pound of copper improved 17.9% year-over-year to $0.92 in 9M25; 3Q25 cost was $0.78.

• Dividend per share for 3Q25 was MXN 1.50, with a 52.5% payout ratio and 4.0% yield.

Outlook and guidance

• Mining division expects a copper market deficit in 2025, driven by low inventories and new demand from decarbonization and AI technologies.

• Ongoing capital investment program could exceed $27 billion this decade, with major projects in Peru, the U.S., Spain, and Mexico.

• Transportation division projects 2–3% volume growth and 5–7% revenue growth in 2026.

• CAPEX guidance for transportation set at $472.7M for 2026.

• Tia Maria project in Peru is 23% complete, with operations expected to start in 2027.