#1ANTOFAGASTA PLC Developing mining for a better future 2023 Half Year Results 10 August 2023 T TELES PE#2Cautionary statement ANTOFAGASTA PLC 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. Antofagasta plc | 2023 Half Year Results 2#3Agenda 1 Overview 2 Financial review 3 Sustainability performance 4 Growth opportunities 32052208 Antofagasta plc | 2023 Half Year Results 3#41144 " - BARR ANTOFAGASTA PLC Ол VIDEO WALL CONCENTRACORA KALLE SAN wwmmmm 11111111 11: 1187: %m Op No w0 Image: Los Pelambres' Integrated Remote Operations Centre in Santiago, inaugurated in H1 2023. Ch BAROM Overview H1 2023 Results Iván Arriagada | Chief Executive Officer FINE 2207-23 SW Feeder S CANALON STATUS OLINOS 2 STATUS POPRADAR SHAMA 19.Dec 2022 14:43:06 471 SUPPEN 12. Dec 2022 14:43:06 12.Dec 2022 14:43 06 Feeder 2 INWES 12.Dec 2022 14:43:06 1200-977EKERCE WESE Feeder 3 BIN11 Planta Gravilla 4#5Highlights: H1 2023 Earnings per share increase by 27% Safety performance O Fatalities -43% High Potential Incidents -30% Lost Time Injury Frequency Rate Copper production +10% (295.5kt) TOMATI 23 JAMES KOMAYU NY TIVO Y COMU EBITDA $1.3bn (+8%) Earnings per share +27% (33.5 cents) BREA Antofagasta plc | 2023 Half Year Results Revenue $2.9bn (+14%) b ANTOFAGASTA PLC 160 litres/second Desalinated water supply Los Pelambres (June 2023 average, 40% of capacity) 5#6Updated full year guidance (as previously announced) ✔ Commissioning of Los Pelambres' expansion in H2 2023 ‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒ 2023 Group production (kt) Revised FY Guidance 640-670 ● 295 •● H1 345 - 375 H2 Cash costs before by-product credits: Cash costs FY Guidance: $2.30/lb (previous: $2.20/lb). Copper production 640-670,000 tonnes - reflects completion of the desalination plant and concentrator expansion in H2 2023. Production expected to increase quarter on quarter. Los Pelambres Desalination plant to improve stability of water availability. Commissioning of fourth concentrator line to take place in H2 ● ● Reflects: Updated production guidance, strong cost control and stronger Chilean peso. Net cash costs: Guidance unchanged (stronger by-product pricing). 2023. ● ● Capital expenditure FY Guidance: $1.9 billion, unchanged. Evaluating opportunities to accelerate project execution. Antofagasta plc | 2023 Half Year Results ANTOFAGASTA PLC ‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒ 6#7MINING ROYALTY In May 2023, both Chile's Senate and lower house of Congress passed the proposed mining royalty, with Presidential approval expected shortly. ● ● ● Current fiscal events in Chile New mining royalty approved ● Centinela and Antucoya have tax stability agreements, therefore the new royalty rates will only apply from 2030. CONSTITUTIONAL REFORM PROCESS Members of the Constitutional Council elected in May 2023. Final draft of revised constitution expected in Q4 2023, ahead of national referendum on 17 December 2023. ● New royalty comprises a 1% ad valorem royalty and royalty on operating profits, with a provision that total taxation should not exceed 46.5% of profitability. Presidential approval granted in August 2023, with royalty to come into effect January 2024. Image: Photo courtesy of the Chilean Senate Antofagasta plc | 2023 Half Year Results ANTOFAGASTA PLC 7#8800 600 400 COPPER PRICE AND INVENTORIES Inventories Prices 200 O NEAR TERM OUTLOOK Recent decline in global demand and economic outlook in China. Expectations for China to announce additional stimulus package. ● Copper market Long term fundamentals supportive of future prices kt Realised prices have stabilised in 2023 following an increase in volatility in 2022, related to the Russia-Ukraine conflict and tightening of monetary policy in most developed markets. Jun 2018 12 Dec 2018 Jun 2019 Dec 2019 Jun 2020 Dec 2020 Jun 2021 Dec 2021 Source: S&P Global, "The Future of Copper" Report, July 2022. Source: Cochilco. Jun 2022 $/lb Avg. H1 2023 $3.95/1b² Dec 2022 Jun 2023 LO 5 4 3 2 1 DEMAND OUTLOOK (LONGER TERM) Global shift towards decarbonization and growth in clean electricity expected to drive growth in demand. ● ● ● ANTOFAGASTA PLC Global copper consumption expected to increase from 25Mt to 53Mt between 2021 and 2050, with modelling of climate scenarios indicating a potential 9.9Mt shortfall of refined copper by 2035.¹ SUPPLY OUTLOOK (LONGER TERM) Global copper supply faces increasing headwinds such as grade decline, supply disruptions, climate-change risks, delays to permitting processes and inflationary environment making projects more challenging. Antofagasta plc | 2023 Half Year Results 8#9F07 ANTOFAGASTA PLC Financial Review H1 2023 Results Mauricio Ortiz | Chief Financial Officer Image: Desalination plant at Los Pelambres. FVE SABRES 9#10Financial highlights: H1 2023 EBITDA increases 8% to $1.3 billion U$B Revenue 2.5 +14% H1 2022 2.9 H1 2023 ‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒ Reflecting rising copper sales (+14%) & additional by-products. c/lb Net cash costs ‒‒‒‒‒‒‒‒‒‒ ● ‒‒‒‒‒‒‒‒‒ 182.1 -4% H1 2022 175.1 H1 2023 ‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒ ‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒ Cash cost reduction reflects by-product pricing and effective cost control measures. U$B EBITDA 1.24 +8% 1.33 H1 2022 H1 2023 ‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒ Resilient EBITDA margin¹ maintained at 46%. 1 EBITDA Margin calculated as EBITDA/Revenue. If Associates and JVS revenue is included EBITDA margin was 43.2% Antofagasta plc | 2023 Half Year Results Interim dividend per share: 11.7 cents (35% of net earnings). Net debt/EBITDA 0.30 -10% FY 2022 ‒‒‒‒‒‒‒‒‒ 0.27 H1 2023 ANTOFAGASTA PLC ‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒ Strong balance sheet metrics maintained; supportive of future growth cycles. Reko Diq cash received H1 2023. 10#11Operating performance: H1 2023 10% increase in Group production 1 Los Pelambres Cu production 128.5 kt Net cash costs $1.17/lb Group's 50% share ‒‒‒‒‒ 51 Centinela Cu production 109.2 kt Net cash costs $1.88/lb ‒‒‒‒‒ Zaldívar Cu production¹ 19.8 kt Net cash costs $2.96/lb ‒‒‒‒‒ FCAB Antofagasta plc | 2023 Half Year Results Transport !! Tonnage transported 3,551 kt Antucoya Cu production 38.0 kt Net cash costs $2.72/lb ‒‒‒‒‒‒ I‒‒‒‒‒ m ANTOFAGASTA PLC 11#12Production and cash costs Production growth as water shortage progressively recedes COPPER PRODUCTION 268.6 kt H1 2022 CASH COSTS $1.82/lb 0.55 Net Cash By-product Costs HY 2022 credits (1.8) Grades $2.37/lb External: $0.16/b 0.19 19.4 1 Inputs: fuel, sulphuric acid, explosives and mill balls 2 Cost and Competitiveness Programme Throughput (0.03) 1.5 (0.10) Recovery Controllable: -$0.05/b 0.00 Pre-credit FX & Inflation Input prices¹ Throughput Grades and HY 2022 (0.02) 7.4 Work-in-progress & inventories Antofagasta plc | 2023 Half Year Results (0.09) Materials CCP 'savings recoveries movement 0.3 Others ROM/Others 0.16 $2.48/lb 0.73 295.5 kt H1 2023 ANTOFAGASTA PLC Pre-credit By-product HY 2023 credits $1.75/lb Net cash cost HY 2023 12#13EBITDA Resilient EBITDA margin $ million and %¹ 49% $1,238m HY 2022 EBITDA² 348 Sales volumes 7 Realised prices (165) Mining costs (3) ppt $93m (11) Exploration & evaluation (27) Non operating expenses & corporate cost Antofagasta plc | 2023 Half Year Results (61) Associates & JVs 1 Margin calculated as EBITDA/Group revenue. If Associates and JVs' revenue is included the EBITDA margin was 43.2% in H1 2023 and 44.9% in H1 2022 2 Results of continuing operations only and includes EBITDA from Associates and JVs 1 Transport division ANTOFAGASTA PLC 46% $1,331m HY 2023 EBITDA² 13#14Strong balance sheet maintained Net debt/EBITDA 0.27x $ million $(886) m Net cash / (debt) Dec 2022 1,285 EBITDA from subsidiaries ¹ 11 Working capital 1 Note: EBITDA from subsidiaries excludes Zaldivar. (323) Tax (1,022) Capex $65m (18) Net interest (17) Other non-cash movements Antofagasta plc | 2023 Half Year Results (498) Dividends (299) Others 945 Reko Diq ANTOFAGASTA PLC $(821)m Net cash / (debt) June 2023 14#15Capital allocation framework Consistent shareholder returns policy CONSISTENT APPROACH TO CAPITAL ALLOCATION OPERATING CASH FLOW SUSTAINING CAPEX & MINE DEVELOPMENT COMMITTED DIVIDENDS (35% PAY-OUT) FINANCIAL POSITION STRONG BALANCE SHEET DECISION FACTORS MACRO PERSPECTIVE VALUE OPTIMISATION CLIMATE RESILIENCE GROWTH CAPEX EXCESS CASH DIVIDEND CAPITAL OUTFLOW CAPITAL OUTFLOW INVESTMENTS AND SHAREHOLDER RETURNS U$B Capex 0.9 2018 35% Interim Dividend 2018 1.0 Antofagasta plc | 2023 Half Year Results 2019 35% 2019 1.3 2020 35% 2020 1.8 2021 35% 2021 1.9 2022 35% 2022 1.9 2023E¹ 35% 2023 "CREATING SUSTAINABLE VALUE AND SHAREHOLDER RETURNS OVER THE LONG TERM" ANTOFAGASTA PLC 15#16☺ ANTOFAGASTA PLC Sustainability performance H1 2023 Results EES W Image: View across the Choapa Valley, central Chile. EXEF René Aguilar | Vice President of Corporate Affairs and Sustainability 16#17Safety and health A safe working environment for everyone 1 VITAMORHA Image: Members of the maintenance team at Centinela's workshops. H1 2023: Zero fatalities. RECENT INITIATIVES IN SAFETY AND HEALTH Focus on risk identification and management processes. Lost time injury rate measured per million hours worked Safety performance: Fatalities, HPI and LTIFR 316 1.6 1 2018 219 Antofagasta plc | 2023 Half Year Results 1.0 2019 86 0.9 2020 Targeting safety initiatives in known high-risk areas. Fatalities High Potential Incidents (HPI) Lost Time Injury Frequency Rate (LTIFR)¹ 65 1.3 1 2021 42 0.8 2022 13 0.6 ANTOFAGASTA PLC HY 2023 Strengthened risk monitoring. 17#18Addressing Climate Change: Water Focused on responsible water sourcing LOS PELAMBRES: JOURNEY UNDERWAY TO 90% SEA WATER OR RECIRCULATED WATER Construction of Los Pelambres' Phase 1 (400l/s) desalination plant completed and ramp up underway. ● ● Average of 1601/s of desalinated water delivered to Los Pelambres in June 2023, helping to ramp-up water availability and reduce continental water extraction rates. Group target of 90% of water usage from sea water or recirculated water following the second phase expansion of the desalination plant to 800 l/s. Agreement about Los Pelambres water distribution arrangements reached with local communities in H1 2023. NORTHERN OPERATIONS: PIVOTING TO 100% SEA WATER Centinela and Antucoya: Currently operating with raw sea water. Application submitted in June 2023 to convert Zaldivar operation to either sea water or water from third parties, after a transition period involving an extension of the current continental water permit expiring to 2028 (from 2025). WATER WITHDRAWALS (GL) 1 36.8 28.9 2018 32.6 Antofagasta plc | 2023 Half Year Results 28.2 2019 Continental water Sea water Note: Target includes recirculated water. 38.9 29.0 2020 37.7 31.3 2021 ANTOFAGASTA PLC 39.7 33.1 2022 18#19Addressing Climate Change: Emissions Committed to emissions reduction tCO₂e / tCu ● 3.33 ● 2018 CO₂ emissions intensity ¹,2 3.10 2019 2.79 2020 2.56 2021 1.75 Emissions reduction journey continues Scope 1 and 2 emissions per tonne reduced by 37% since baseline year of 2020. 2022 Significant reduction of Scope 2 emissions since 2022 through green electricity contracts at all operations.³ ● ● ● ● CO₂ emissions composition Focus on key areas of emissions Diesel represents c.60% of Scope 1 emissions. Pilot project to develop trolley-assist technology at Los Pelambres. Focus on reduction of consumption and maximising fuel efficiency. Inauguration of 50 electric light vehicles at Centinela in H1 2023. 1 Tonnes of carbon dioxide equivalent. 2 Further information on our CO₂e emissions can be found on the Carbon Disclosure Project website (www.cdp.net). 3 In 2022, 86% of the electricity supplied was from renewable sources. Antofagasta plc | 2023 Half Year Results Scope 1 92% Scope 2 b ANTOFAGASTA PLC 19#20Global Industry Standard on Tailings Management¹ On track to meet disclosure requirements PUBLICATION: AUGUST 2020 Standard developed and published, covering 77 requirements integrating social, environmental, local economic and technical considerations. +3 YEARS: AUGUST 2023 Deadline for companies with tailings facilities with elevated risk (3 years from Standard's publication). Applies to: El Mauro (Los Pelambres). Centinela published in 2023, two years ahead of deadline. +5 YEARS: AUGUST 2025 ● ● ● ● ● TIMELINE: DEVELOPMENT OF GISTM ● Deadline for all other remaining facilities to conform to Standard. Applies to: Los Quillayes (Los Pelambres) and Zaldívar (x1 facility). 1 Global Industry Standard on Tailings Management abbreviated to GISTM. GISTM: INDUSTRY BEST PRACTICE Standard developed by the International Council on Mining and Metals ("ICMM"), the United Nations Environment Programme ("UNEP") and Principles for Responsible Investment ("PRI"). As part of risk monitoring process, the Company has an Independent Tailings Review Committee that reports to the Board of Directors. ● 27 July 2023: ICCM provides status update on members' progress. CONFORMANCE TO INDUSTRY STANDARD Documentation for El Mauro published in line with target date as set by Standard. ANTOFAGASTA PLC ● Documentation also now published for Centinela, two years ahead of deadline. Published documentation includes dam safety reviews, risk assessments, emergency response plans and emergency simulations. Antofagasta plc | 2023 Half Year Results 20#21PROGRAMME PILLARS AND CHALLENGES People: Female participation in supplier companies and hiring of local labour. ● ● ● Suppliers "Suppliers for a better future" programme ● Competitiveness and innovation: Joint work to identify initiatives and business models that allow incorporating innovation, technologies, energy transition and managing risks to face potential disruptions. PROGRESS TO DATE 351 tenders awarded to local suppliers. $165 million in contracts awarded to local suppliers of Antofagasta. Programme to provide training to local suppliers underway. ● Sustainability: Joint plans between Antofagasta and suppliers to reduce CO₂ emissions. 2 Local development: Joint work with large suppliers to achieve a more productive value chain. Antofagasta plc | 2023 Half Year Results LOS PELAMBRES AVICHALADIA VINGAAL ANTOF MINER A ANTOFAGASTA MINERALS LOS PELAN-RES C "Comprometidos en desarrolor nuestro competitividad y prácticas sustentables, para construir juntos mineria para un futuro mejor" 28 ANTOFAGASTA PLC LOS FELAMBRES AND FALALAMA Image: Launch ceremony for 'Suppliers for a better future programme' at Los Pelambres. 21#22THIVIER CIRCENS TAM-M. VI ANTOFAGASTA PLC Growth pipeline 2023 Half Year Results Iván Arriagada| Chief Executive Officer Image: View of the Company's concentrator at Centinela, northern Chile. 22#23Reliable and responsible copper producer Pipeline for growth to 900,000tp.a. of copper production Encierro Portfolio projects Greenfields Exploration 2030+ Cuprochlor-T Cachorro Zaldívar primary sulphides Centinela 2nd Concentrator Phase 2 Los Pelambres Expansion Phase 2 Other Innovation Centinela 2nd Concentrator Phase 1 Development 2025+ Antofagasta plc | 2023 Half Year Results Los Pelambres Expansion Phase 1 120 ktpa Cu 50 ktpa Cu 35 ktpa Cu 15 ktpa Cu PRAKTHA Production Construction 2023 ANTOFAGASTA PLC Sized to 50 ktpa for illustrative purpose only 900ktpa target once Centinela Second Concentrator is operating 23#24Growth update: Los Pelambres (Phase 1) Major projects on track for delivery in H2 2023 ● ● Desalination Plant Mechanical Construction completed H1 2023. Nameplate capacity: 400 litres per second, with average rate of 160 litres per second achieved in June 2023. Commissioning to take place during H2 2023. ● ● FLSmier Flamier Antofagasta plc | 2023 Half Year Results Fourth Concentrator Line Project to lift plant nameplate capacity from 175ktpd to 190ktpd. Pre-operational testing work commenced in Q2 2023, in addition to commissioning of ancillary sections of equipment. Commissioning to take place during H2 2023. ANTOFAGASTA PLC 24#25Centinela Second Concentrator: Processing Developing a Tier 1 mining district PROJECT TIMELINE Updated studies to be submitted to the Board for consideration by end-2023. ● PROJECT SCOPE Second concentrator to unlock the potential of Esperanza Sur and Encuentro deposits, with mine development at Encuentro to commence half-way through the construction phase of the second concentrator. Development of 95ktpd (ore) brownfields expansion. Expansion of existing raw sea water pumping system. High density tailings storage facility. Leveraging understanding developed through operating our existing concentrator for +10 years. SUPPORTED BY A +30 YEAR MINE LIFE Reserves: 1.7 billion tonnes @ 0.41% Cu + Au/Mo. c.170ktpa Cu equivalent production. Targeting 1st quartile C1 cash costs (net of by-products). ● ● ● ● Tailings facility (existing) Antofagasta plc | 2023 Half Year Results Concentrator (existing) Tailings facility (proposed) Concentrator (proposed) Oxide Operations ANTOFAGASTA PLC Esperanza Pit Esperanza Sur Pit Encuentro Pit 25#26Developing mining for a better future Looking forward into H2 2023 ● ● ● ● ● Safety first culture: Continue to prioritise strong safety performance. Deliver on growth projects: Commission Los Pelambres' desalination plant and 4th concentrator line. Deliver guidance: Quarter-on-quarter growth in production in H2. Maintain strong cost control: Deliver further savings and productivity improvements. Centinela Second Concentrator: Submit updated studies for Board review. Continue emissions reduction journey: Developing new targets after achieving 30% reduction target. Image: Esperanza Sur at Centinela, northern Chile.#27ANTOFAGASTA PLC Developing mining for a better future 2023 Half Year Results 10 August 2023 T TELES PE#28ANTOFAGASTA PLC Appendix Image: Haul truck at Los Pelambres. KRA ar XDR3 ammad lat 28#29123 At a glance Group 65% owned by Luksic Group, 35% free float Market cap: $19.6 billion (24 July 2023) • FTSE 100 ● ● Mining division¹ Top 10 copper producer High quality assets with significant potential production growth Copper production: 646,200 tonnes Gold production: 176,800 oz Molybdenum production: 9,630 tonnes Net cash costs: $1.61/lb All operations in Chile ● ● ● ● Transport division¹ Provides rail and road cargo services in Chile's Antofagasta Region. • Total tonnage transported: 7.1 million tonnes ● 2022 From 31 December 2022 As of 31 December 2022 on 100% basis ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● Antucoya 70% owned Copper production¹: 79,200 t Remaining mine life²: 21 years Reserves³: 717.6 million t @ 0.31% Cu Centinela 70% owned Copper production¹: 247,500 t Remaining mine life²: 43 years Reserves³: 2.0 billion t @ 0.40% Cu Zaldívar 50% owned, operator Copper production¹: 44,500 t (50%) Remaining mine life²: 13 years Reserves³: 413.2 million t @ 0.42% Cu Los Pelambres 60% owned Copper production¹: 275,000 t Remaining mine life²: 12 years Reserves³: 905.5 million t @ 0.59% Cu, 0.020% Mo and 0.05g/t Au Antofagasta plc | 2023 Half Year Results Santiago Chile contains 30% of world's copper resources#301 Revenue $ million $2,528m HY 2022¹ Excludes Zaldívar and JVs (83) Copper price 316 Copper sales $362m 153 By-products Antofagasta plc | 2023 Half Year Results (31) TC/RC 7 Transport division ANTOFAGASTA PLC $2,890m HY 2023¹ 30#31Net earnings 12 $ million $260m HY 2022 Net earnings 154 EBITDA from subsidiaries ¹ Excludes Associates and JVs' EBITDA 2 Includes foreign exchange adjustments (22) Depreciation and amortisation (50) Associates and JVs $70m 2 Net finance costs ² Antofagasta plc | 2023 Half Year Results 19 Tax (33) Non-controlling interests ANTOFAGASTA PLC $330m HY 2023 Net earnings 31#32Cash flow $ million $2,391m Cash at 1 Jan 2023 1,285 EBITDA from subsidiaries 11 Working capital (323) Tax (1,022) Capex $(42)m (18) Net interest (146) Net borrowings received Antofagasta plc | 2023 Half Year Results (498) Div. to PLC shareholders (276) Others 945 Reko Diq ANTOFAGASTA PLC $2,350m Cash at 30 Jun 2023 32#332023 HY production cost breakdown $/lb $1.75/lb Net cash costs H1 2023 0.73 By-products credits $2.48/lb Gross cash costs HY 2023 0.81 (0.25) "I TC/RC & Comm. $3.04/lb Mine development, Inventory variation & IFRS 16 Production Cost H1 2023 Others Other inputs 9% Sulphuric acid Antofagasta plc | 2023 Half Year Results 6% Energy 7% Fuel and Lubricants 8% 11% Labour 13% $1,979m 14% Materials and spare parts ANTOFAGASTA PLC 31% Services 33#34Production and metals prices Group production Copper ('000 tonnes) Los Pelambres Centinela Concentrates Centinela Cathodes Antucoya Zaldívar³ Group total Gold ('000 ounces) Los Pelambres Centinela Group total Molybdenum ('000 tonnes) Los Pelambres Centinela Group total 2019 2020 2021 363.4 359.6 324.7 275.0 128.5 320-335 195.5 153.5 185.4 149.3 74.2 81.1 71.9 58.1 770.0 93.3 88.8 98.2 79.3 78.6 79.2 48.2 44.0 44.5 733.9 721.5 646.2 35.0 38.0 70-75 19.8 45-50 295.5 640-670² 2019 2019 2020 2021 11.2 0.4 11.6 2022 HY 2023 2023E¹ 2020 2021 2022 59.7 60.3 53.2 43.1 19.6 45-55 222.6 143.7 199.0 133.7 66.6 175-185 282.3 204.1 252.2 176.8 86.2 220-240 2022 9.2 7.2 10.9 1.7 1.3 2.4 12.6 10.5 9.7 235-250 HY 2023 2023E¹ HY 2023 2023E¹ 3.4 1.5 7.5-8.5 2.5-3.0 4.9 10-11.5 1 Guidance January 2023, except Group copper production, which was revised in July 2023 2 Revised July 2023 3 Attributable share Antofagasta plc | 2023 Half Year Results Metal prices Copper ($/lb) Realised LME Gold ($/oz) Realised Market Molybdenum ($/lb) Realised Market 2019 2020 2.75 2.98 4.37 3.84 2.72 2.80 4.23 3.99 2019 2020 2019 2021 2022 HY 2023 2020 ANTOFAGASTA PLC 1,416 1,797 1,788 1,801 1,932 1,393 1,770 1,799 1,800 1,989 3.99 3.95 2021 2022 HY 2023 10.8 8.8 17.4 20.8 11.4 8.7 15.9 18.7 2021 2022 HY 2023 25.0 27.1 34#35Unit cash costs 1 2 3 Group cash costs Group cash costs ($/lb) Los Pelambres Centinela Antucoya Zaldívar³ Cash costs before by-products credits ($/lb) By-products credits ($/lb) Net cash costs ($/lb) Los Pelambres cash costs ($/lb) Cash costs before by-products credits ($/lb) By-products credits ($/lb) Net cash costs ($/lb) Centinela cash costs ($/lb) Cash costs before by-products credits ($/lb) By-products credits ($/lb) Net cash costs ($/lb) 2019 1.40 1.83 2.17 1.75 1.65 (0.43) 1.22 2019 1.40 (0.49) 0.91 2019 1.83 (0.57) 1.26 Guidance January 2023, except Group cash costs before by-products credits, which was revised in July 2023 Revised July 2023 Attributable share 2020 1.27 1.85 1.82 1.80 1.56 (0.42) 1.14 2020 1.27 (0.46) 0.81 2020 2021 Antofagasta plc | 2023 Half Year Results 1.59 1.87 2.04 2.39 1.79 (0.59) 1.20 2021 1.59 (0.70) 0.89 2021 1.85 1.87 (0.58) (0.74) 1.27 1.13 2022 1.84 2.44 2.50 2.39 2.19 (0.58) 1.61 2022 HY 2023 2022 2.04 2.82 2.72 2.96 2.48 (0.73) 1.75 HY 2023 1.84 2.04 (0.73) (0.88) 1.17 1.10 HY 2023 2.44 2.82 (0.69) (0.94) 1.75 1.88 2023E¹ 1.85 2.55 2.45 2.70 2.30² (0.55) 1.65 2023E¹ 1.85 (0.60) 1.25 2023E¹ 2.55 (0.85) 1.70 ANTOFAGASTA PLC 35#36Reserves and resources as of 31 December 2022 Ore reserves Los Pelambres Centinela Concentrates (Sulphides) Centinela Cathodes (Oxides) Centinela Total Antucoya Total Group Joint Ventures Zaldívar Total Group Ore Reserves Mineral resources (including ore reserves) Los Pelambres Centinela Concentrates (Sulphides) Centinela Cathodes (Oxides) Antucoya Polo Sur Penacho Blanco Mirador Los Volcanes Brujulina Sierra Cachorro Encierro Twin Metals Group Joint Ventures Zaldívar Total Group Measured + Indicated Inferred Total Group Mineral Resources (including ore reserves) Tonnage (millions tonnes) 2022 2021 905.5 1,712.8 274.5 1,987.2 717.6 3,610.3 413.2 4,023.5 5,955.4 4,637.4 412.7 1,114.6 1,645.8 355.7 102.1 1,910.8 88.0 52.3 242.5 522.3 2,509.1 1,150.2 10,815.3 9,883.4 20,698.8 956.1 1,684.3 299.3 1,983.6 745.5 3,685.3 450.8 4,136.2 5,957.4 4,092.1 441.9 1,191.6 1,657.0 340.2 93.5 1,904.2 87.2 52.0 141.6 2,509.1 1,309.9 11,037.9 8,739.7 19,777.8 Copper (%) 2022 0.59 0.40 0.37 0.40 0.31 0.43 0.42 0.43 0.50 0.36 0.36 0.30 0.32 0.37 0.29 0.50 0.49 0.68 1.21 0.65 0.52 0.39 0.45 0.44 0.45 2021 0.59 0.41 0.39 0.40 0.32 0.43 0.43 0.43 0.50 0.38 0.37 0.30 0.33 0.37 0.30 0.50 0.49 0.69 1.21 0.52 0.38 0.45 0.44 0.44 Antofagasta plc | 2023 Half Year Results Molybdenum (%) 2021 2022 0.020 0.012 0.017 0.012 0.007 Nickel (%) 0.170 0.020 0.012 0.017 0.013 0.170 Gold (g/t) 2022 0.048 0.130 0.050 0.120 0.220 2021 0.470 0.049 0.140 0.060 0.120 Total precious metals (g/t Au+Pt+Pd) 0.470 Attributable Tonnage (millions tonnes) 2022 2021 543.3 1,198.9 573.7 1,179.0 192.1 209.5 1,391.1 1,388.5 502.3 521.9 2,436.7 2,484.1 206.6 2,643.3 3,573.2 3,246.2 288.9 780.2 1,645.8 181.4 92.6 974.5 44.9 52.3 242.5 295.3 2,085.0 575.1 7,596.2 6,481.7 14,077.9 225.4 2,709.5 3,574.5 2,864.5 309.3 834.1 1,657.0 173.5 86.0 971.1 44.5 52.0 141.6 2,085.0 654.9 7,701.5 5,746.6 13,448.1 ANTOFAGASTA PLC 36#37Antofagasta contacts A ANTOFAGASTA PLC Rosario Orchard Director, London Office [email protected] Tel: +44 20 7808 0988 A ANTOFAGASTA PLC Robert Simmons Antofagasta plc | 2023 Half Year Results Investor Relations Manager [email protected] Tel: +44 20 7808 0988 ANTOFAGASTA PLC 37#38ANTOFAGASTA PLC ASSO ANTOFAGASTA IS A CHILEAN COPPER MINING GROUP des g துண்டிவ b G SAD Sorry Potter - Ma An Up Papet KOM 2 NEW 90% OF OUR REVENUE AND EBITDA IS FROM MINING TOWAR HORO www.antofagasta.co.uk 809.5GBp-1.2% 2016 PRELIMINARY RESULTS PRESENTATION EN Antofagasta plc | 2023 Half Year Results ANTOFAGASTA PLC 38