Antofagasta Investor Update

Robust EBITDA converts into dividends Policy unchanged, record of strong returns to shareholders c/lb and % 55% 3.00 1.25 2017 c/share 67% 50.9 2017 47% 2.81 1.29 2018 Net cash costs 66% 33.7 2018 Minimum pay-out 35% 49% 2.75 1.22 2019 Realised Cu price 35% 17.8 53% 2.98 2019 From excess cash 1.14 100% 2020 Group EBITDA Margin 54.7 65% 2020 4.37 2021 1.20 142.5 100% 2021 Pay-out ratio (%) Antofagasta plc | 2022 BofA Global Metals, Mining & Steel Conference EBITDA Margin 2021 65% Average 5-year pay-out ratio 73% 7

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