Antofagasta Investor Update

Expanded capital allocation framework Integrates climate factors Operating Cash Flow Sustaining Capex & Mine Development Committed Dividends (35% pay-out) Strong Balance Sheet Growth Capex Excess Cash Dividend Create sustainable value & shareholder returns over the long term Macro Perspective Decision Factors Financial Position • Economic outlook • Various copper price scenarios ● Value Optimisation Antofagasta plc | 2022 BofA Global Metals, Mining & Steel Conference Climate Resilience • Future capital expenditures Approved projects and those under evaluation ● ● Climate resilience investments reviewed against most probable scenarios • Use an Internal Carbon Price in our project and procurement decisions Sustainable generation of free cash flow with ample liquidity ● • Manage debt maturity profile 6

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