NEWS RELEASE, 31 JULY 2023

ANTOFAGASTA RELEASES SOCIAL VALUE REPORT

Antofagasta plc ("Antofagasta" or the "Company") has today released its second Social Value Report as part of its commitment to transparency and in line with its purpose of developing mining for a better future.

This report describes the community engagement programmes and practices that the Company has implemented to create social value in the areas where it operates.

The Company has been implementing an impact measurement system since 2018 to evaluate the effectiveness of its community engagement programme, which is based on three methodologies: SROI (Social Return on Investment), Territorial Human Wellbeing Matrix and an analysis that measures the contribution to the SDGs (Social Development Goals, which the United Nations set in 2015).

Antofagasta believes its sustainability programme plays a critical role in its various collaborations with public institutions and communities. The Company works to create a net positive impact on the areas around its operations, improving peoples' quality of life.

Antofagasta's CEO, Iván Arriagada said: "We are pleased to report various achievements at the corporate and regional levels. These include the updating of our Human Rights Policy and the development of an Indigenous Peoples Engagement Standard (in 2022)".

A copy of the report can be found at https://www.antofagasta.co.uk/sustainability/sustainability-reports-and-policies/.

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