Antofagasta : Financial Reporting Document

Delivering

Performance

and Growth

Investor Presentation

Bank of America Conference

14-15 May 2024

Cautionary statement

This presentation has been prepared by Antofagasta plc. By reviewing and/or attending this presentation you agree to the following conditions:

This presentation contains forward-looking statements. All statements other than historical facts are forward-looking statements. Examples of forward- looking statements include those regarding the Group's strategy, plans, objectives or future operating or financial performance; reserve and resource estimates; commodity demand and trends in commodity prices; growth opportunities; and any assumptions underlying or relating to any of the foregoing. Words such as "intend", "aim", "project", "anticipate", "estimate", "plan", "believe", "expect", "may", "should", "will", "continue" and similar expressions identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that are beyond the Group's control. Given these risks, uncertainties and assumptions, actual results could differ materially from any future results expressed or implied by these forward-looking statements, which apply only as of the date of this presentation. Important factors that could cause actual results to differ from those in the forward-looking statements include: global economic conditions; demand, supply and prices for copper; long-term commodity price assumptions, as they materially affect the timing and feasibility of future projects and developments; trends in the copper mining industry and conditions of the international copper markets; the effect of currency exchange rates on commodity prices and operating costs; the availability and costs associated with mining inputs and labour; operating or technical difficulties in connection with mining or development activities; employee relations; litigation; and actions and activities of governmental authorities, including changes in laws, regulations or taxation. Except as required by applicable law, rule or regulation, the Group does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Certain statistical and other information about Antofagasta plc included in this presentation is sourced from publicly available third party sources. Such information presents the views of those third parties and may not necessarily correspond to the views held by Antofagasta plc.

This presentation is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy shares in Antofagasta plc or any other securities in any jurisdiction. Further it does not constitute a recommendation by Antofagasta plc or any other person to buy or sell shares in Antofagasta plc or any other securities.

Past performance cannot be relied on as a guide to future performance.

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ANTOFAGASTA PLC

Building a major copper producer

1983-2023: 40 years of investing in copper

			Los Pelambres				Centinela Concentrates			Antucoya
(ktpa)	1,000		(2000-present)					(2011-present)				(2015-present)
productionCu	500
	0
	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023

Michilla1	Centinela Cathodes	Zaldívar2
(1983-2016)	(2001-present)	(2015-present)

900kt

guidance	Ambition
2024

Image: Night sky at Antucoya.

1. Divestment of Michilla in 2016. 2. 50% interest in Zaldívar acquired by Antofagasta in 2015.

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2023 Summary

Delivering performance and growth

COPPER

PRODUCTION

EBITDA

NET DEBT /

EBITDA1

TOTAL

DIVIDEND

661kt

(2022: 646.2kt)

+5%

(2023: $3,087m)

0.38x

(2022: 0.30x)

50%

Of net earnings

1. Net debt / EBITDA figures as of 31 December.

Image: Los Pelambres' port facility at Los Vilos.

ANTOFAGASTA PLC

4

Delivering

Performance

and Growth

Investor Presentation

Bank of America Conference

14-15 May 2024