ZALDÍVAR EIA APPROVAL

Antofagasta plc ("Antofagasta" or the "Group") is pleased to confirm that the Chilean Environmental Authority has approved the Environmental Impact Assessment (EIA) submitted by Zaldívar for a mine life extension and water transition. The official resolution, in the form of the Environmental Qualification Resolution (Spanish acronym: RCA), is expected to be received in the coming days.

The relevant application was for an extension of Zaldívar's mine life to 2051, and a transition to a long-term supply of water, being either sea water or a third-party water source. The mine plan includes the current secondary sulphide Ore Reserves and enables, from the perspective of permitting, the development of primary sulphide ore.

Zaldívar will continue to utilise its existing water supply through to 2028, and will make an evaluation of the best alternative for its long-term water supply beyond 2028.

Antofagasta plc CEO, Iván Arriagada said: "Following two years of permitting process, and through a detailed and proactive engagement with communities, government and other stakeholders, we have achieved a result that facilitates operational continuity and employment for our own and contractor workforce, as well as for numerous local businesses that support Zaldívar in its operations.

"Looking forward, today's announcement further derisks our business, allowing us to focus on realising Zaldívar's full potential."

Investors - London                                                                                        Media - London

Rosario Orchard                      [email protected]                    Carole Cable            [email protected]

Robert Simmons                     [email protected]                  Telephone                +44 20 7404 5959

Telephone                                +44 20 7808 0988                                  

                                                                                                                           Media - Santiago

                                                                                                                            Pablo Orozco           [email protected]

                                                                                                                            Carolina Pica            [email protected]

Telephone                 +56 2 2798 7000

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Cautionary Statement

This announcement may contain certain forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements.

These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance or outcomes. Readers should not place undue reliance on 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.

These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statement is based. No assurance can be given that the forward-looking statements in this document will be realised. Past performance cannot be relied on as a guide to future performance.

This document does not contain or comprise profit forecasts, investment, accounting, legal, regulatory or tax advice nor is it an invitation for you to enter into any transaction. You are advised to exercise your own independent judgement (with the advice of your professional advisers as necessary) with respect to the risks and consequences of any matter contained herein.