Antofagasta Results Presentation Deck

1 Capital allocation drives decision making Operating Cash Flow¹ Sustaining Capex & Mine Development Committed Dividends (35% pay-out) Growth Capex Strong Balance Sheet $559m Excess Cash Dividend Operating cash flow before income tax paid 2020 $2,431m $748m $189m Net Debt/EBITDA 0.03x $350m Copper Price DECISION FACTORS Balance Sheet ● Stress test forecasts at various copper prices Free Cash Flow Capex • Future free cash flow generation Cash buffer ● ANTOFAGASTA PLC • Upcoming capital expenditure Approved and under study projects ● Debt structure 2020 total dividend 100% of underlying net earnings 16

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