Antofagasta : Appointment of Independent Non-Executive Director

NEWS RELEASE, 13 MARCH 2020

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

Antofagasta plc (the "Company") announces that, on 13 March 2020, the Board of the Company appointed Tony Jensen as an Independent Non-Executive Director with immediate effect. Mr Jensen has also been appointed to the Audit and Risk Committee.

Mr Jensen has over 35 years of experience in mining in the USA and Chile, working for Royal Gold Inc. ("Royal Gold") and Placer Dome Inc. ("Placer Dome") in a range of operating, financial and management roles. Mr Jensen recently retired as President and Chief Executive Officer of Royal Gold, a position he held for 13 years, having previously been Chief Operating Officer for three years.

Prior to joining Royal Gold, Mr Jensen was Mine General Manager of the Cortez Joint Venture in Nevada and held treasury, business development and a wide range of other operating roles with Placer Dome in the USA and Chile.

Mr Jensen has a degree in Mining Engineering from South Dakota School of Mines and Technology and a Certificate in Finance from Golden Gate University in San Francisco.

Mr Jensen is 57, is based in Denver, Colorado and is a US citizen.

Mr Jensen is currently a director of Black Hills Corporation, a regional utility company listed on the New York Stock Exchange and the University Advisory Board for the South Dakota School of Mines and Technology. He was a director of Royal Gold from 2004 until 2020 and a director of Golden Star Resources Limited from 2012 until 2017, where he also served as chairman of the corporate responsibility committee and as a member of the audit committee.

Mr Jean-Paul Luksic, Chairman of the Company said today: "Following an extensive and rigorous externally facilitated search process, we are delighted that Tony has accepted our invitation to join the Board. His comprehensive industry experience in the USA and Chile combined with his recent and relevant financial experience will be of great benefit to the Company in the years ahead."

For the purposes of the UK Corporate Governance Code, Mr Jensen is considered by the Board to be independent. Save as disclosed above, there are no further disclosures required under Listing Rule 9.6.13(1) to (6) in respect of Mr Jensen. If he is elected by shareholders at the AGM in May 2020, 67% of the Board, excluding the Chairman, will comprise independent non-executive directors.

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