Company: SCCO
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001558370-25-004735
Chunk: 26

Company: SOUTHERN COPPER CORP/
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 26
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ents receive travel benefits to return to their home country at the end of each year and return to Peru at the commencement of each year of the contract. Additionally, this benefit includes travel to their home country at the termination of the contract. Discretionary Cash Compensation:

| (a) | Base Salary: |

Messrs. González Rocha, Jacob and Corrales and Ms. Vingerhoets received $435,718, $151,179, $119,834 and $92,456 in 2024 as annual salary, respectively. None of the Peruvian Named Executive Officers received salary increases in 2024. The differences in the comparison of the 2024 and 2023 salaries for Messrs. González Rocha, Jacob and Corrales and Ms. Vingerhoets are due to foreign exchange conversion rates. The Company’s functional currency is the U.S. dollar and salaries, as are all significant portions of our Peruvian operating costs, are denominated in Peruvian Soles. Accordingly, when inflation and the Peruvian currency fluctuations occur, reported salaries can be affected. Mr. Oscar González Rocha’s base salary at the commencement of his services with us is reflected in an employment agreement mandated by Peruvian law. In general, the base salaries of our Named Executive Officers in Peru follow the guidelines of salaries of other key employees of the Company.

| (b) | Bonus: |

Messrs. Oscar González Rocha and Jacob received a discretionary cash bonus of $48,413 and$16,798, respectively in 2024 in recognition of their performance and to reward them for their leadership, vision andfocus . Mr. Corrales and Ms. Vingerhoets did not receive discretionary cash incentive bonuses in 2024 . The amount of the discretionary cash bonus of Messrs. González Rocha and Jacob is reflected in the Summary Compensation Table under the Bonus column. Peruvian Mandated Cash Compensation:

| (a) | Profit Sharing in the Profits of Our Peruvian Branch: |

Peruvian law requires that we, as well as all other mining companies in Peru, share 8% of the annual pre-income tax profits of our Branch with all of our workers (salaried and non-salaried). This benefit is payable in cash to each employee in an amount not to exceed 18 times his or her monthly salary. The excess is paid to a Peruvian pro-employment fund and to the regional governments in Peru where we operate, which include Lima,