ANTOFAGASTA PLC ANNOUNCES PRICING OF BOND

NEWS RELEASE, 9 OCTOBER 2020

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA OR TO ANY U.S. PERSON

Antofagasta Plc Announces Pricing of US$500 Million of 2.375% Senior Unsecured Notes due 2030

Antofagasta plc ("Antofagasta", or the "Company") is pleased to announce that yesterday it agreed the pricing of its inaugural issuance of US$500 million at 2.375% Senior Unsecured Notes due 2030 (the "Notes"). Antofagasta intends to use the net proceeds from the issuance for general corporate purposes. The Notes are being offered and sold pursuant to Rule 144A and Regulation S of the U.S. Securities Act of 1933, as amended.

Application has been made to the Financial Conduct Authority ("FCA") for the Notes to be admitted to the official list of the FCA. Application is intended to be made to the London Stock Exchange plc for the Notes to be admitted to trading on the London Stock Exchange's regulated market. Settlement and issue of the Notes are expected to occur on 14 October 2020.

Investors - London                                                                                  Media - London

Andrew Lindsay                      [email protected]               Carole Cable            [email protected]

Andres Vergara                       [email protected]              Will Medvei             [email protected]

Telephone                               +44 20 7808 0991                                  Telephone                +44 20 7404 5959

                                                                                                                    Media - Santiago

                                                                                                                    Pablo Orozco           [email protected]

                                                                                                                    Paola Raffo              [email protected]

                                                                                                                    Telephone                +56 2 2798 7000

This announcement is not an offer, solicitation or sale of securities in the United States or any other state or jurisdiction, and there shall not be any offer, solicitation or sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities described in this announcement will only be offered in the United States to "qualified institutional buyers" as defined in Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and outside the United States to non-U.S. persons in offshore transactions in accordance with Regulation S thereunder. The Notes have not been and will not be registered under the Securities Act, or under any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements. This information is for your internal use and may not be forwarded or redistributed to any other persons.

The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area ("EEA") or in the United Kingdom ("UK"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); or (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended, the "Insurance Distribution Directive"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently no key information document required by Regulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the EEA or in the UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA or in the UK may be unlawful under the PRIIPs Regulation.

The information in this announcement is only being distributed to and is only directed at (i) persons who are outside the UK or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Notes will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Any investment activity to which this announcement relates is reserved for relevant persons only and may only be engaged in by relevant persons.

This announcement does not constitute an offer to sell or a solicitation of an offer to buy or an advertisement in respect of Notes in any province or territory of Canada other than to investors that are "accredited investors" as defined in National Instrument 45-106 Prospectus Exemptions, or the Securities Act (Ontario), as applicable, and "permitted clients" as defined in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations.

Neither this announcement nor anything contained herein shall form the basis of any contract or commitment whatsoever. Recipients of this announcement are not to construe the contents of this communication as legal, tax or investment advice and recipients should consult their own advisors in this regard.

ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION HAVING BEEN SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.