Antofagasta PLC

Firstly, through the implementation of our Climate Change Strategy, we are developing various initiatives for each of its pillars. Its development and implementation are carried out in a comprehensive and transversal manner at all levels of the company, from the Board of Directors to our partner companies. In addition, we have a Climate Change Committee, which is responsible for supporting the implementation, monitoring and continuous improvement of the Strategy. One of the Committee's objectives is to maximise the participation of the different areas and levels of the organisation. [...] The Board of Directors, of which 70% of its members have sustainability skills (including competencies related to climate change), is ultimately responsible for the Strategy and our proposed objectives, recognising climate change as one of the main challenges facing the company. To support this important role, the Board is assisted by committees with different oversight responsibilities. The Sustainability and Stakeholder Management Committee is responsible for reviewing and monitoring the Group's strategy, policies and performance on key aspects of sustainability, such as climate change and other environmental issues, health and safety, human rights, communities and stakeholders. In 2022, its focus was to review the implementation of the Strategy, in addition to supporting the Board of Directors in the evaluation of the physical and transition risks of climate change and its impact on the Group's net present value. [...] At the executive level, Climate Change Strategy responsibilities are assigned to specific positions. The Chief Executive Officer (CEO) is responsible for approving targets and monitoring their progress. The Vice President of Corporate Affairs and Sustainability, the Vice President of Administration and Finance (CFO), and the Vice President of Strategy and Innovation are responsible for proposing targets and reporting on adaptation and mitigation issues. [...] The CEO is assisted in the implementation of the Group's strategy by an Executive Committee, which receives reports on environmental matters, including climate change. The Executive Committee's different subcommittees include the Climate Change Committee, formed in January 2021, to monitor the development and implementation of the Climate Change Strategy.

##### Decarbonisation governance

###### Our Company's governance structure is designed to support our strategic Climate Action Plan. Spanning across all levels of the organisation, this governance framework is crafted to support the

• Culture • Internal controls, risk management and compliance
essential requirements of our Climate Change Strategy. ANTOFAGASTA PLC

• Strategy and management • Prepare internal and performance reports
BOARD
To enhance our focus on our decarbonisation plan, we established KEY • Governance • Structure and capital the Decarbonisation Management Department in 2023, which re RESPONSIBILITIES

• Stakeholder engagement • Approving material transactions
ports directly to the Vice President of Strategy and Innovation. Its main objective is to create the enabling conditions for the imple- mentation of our decarbonisation plan. This plan considers, among others, to replace fossil fuels in our operations with low carbon technologies, maintaining competitive costs while adhering to the mining plan requirements.
BOARD NOMINATION AND AUDIT AND RISK PROJECTS REMUNERATION SUSTAINABILITY COMMITTEES GOVERNANCE AND TALENT AND STAKEHOLDER
At the executive level, the Climate Change Strategy duties and MANAGEMENT MANAGEMENT

responsibilities are clearly defined, extending up to our Chief

Executive Officer's office. Regular reports on environmental

CHIEF EXECUTIVE OFFICER
issues are made as well as several board and executive
CEO AND
committee meetings, ensuring a continuous and open flow of EXECUTIVE VICE PRESIDENT VICE PRESIDENT OF
COMMITTEE CHIEF FINANCIAL OFFICER OF STRATEGY AND CORPORATE AFFAIRS
strategic information to the Board´s Stakeholder Engagement INNOVATION AND SUSTAINABILITY

Committee and the Board itself.

The Climate Change Committee, within the governance structure,
SUBCOMMITTEES
Operating Business Disclosure Climate Energy, Ethics Projects
plays a key role in overseeing the development and implementation
OF THE Performance Development Change water &
of the Climate Change Strategy. Simultaneously, our board, with
EXECUTIVE Review decarbonisation
70% of its members having expertise in sustainability and climate
COMMITTEE Management
change, relies on the counsel of specialised committees to fulfil the various supervisory responsibilities related to climate change.

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###### In line with our strategic plan and progress towards achieving our overall ambition of carbon neutrality by 2050. We have updated our Climate Change Governance as introduced in our Second Climate Change Report. The Vice Presidency of Strategy and Innovation has been added to this governance structure, alongside the Vice Presidencies of Finance and Corporate Affairs and Sustainability. This structure aims to further enhance our internal goals set forth by the Executive Committee and overseen by the CEO.

Lastly, the Board's Compensation and Talent Management Com- mittee ensures that the group's remuneration approach remain aligned with the effective implementation of strategic priorities, thus reflecting the connection between executive compensation and performance against emission targets and their programs. Sustainability goals and individual organisational capacities consti- tute 25% of key individual performance, with a 10% allocation spe- cifically dedicated to environmental performance. This approach demonstrates our commitment to achieving our sustainability KPIs.

The Board is responsible for leading and monitoring sustainability practices. It is assisted by the Sustainability and Stakeholder Management Committee which makes recommendations to ensure that environmental, social and governance (ESG) issues are included in the Board's deliberations (see pages 26-28). At the executive level, sustainability considerations guide decision-making across the organisation with particular responsibility falling on the Corporate Affairs and Sustainability area. [...] The Sustainability and Stakeholder Management Committee supports the Board in providing guidance on the Group's safety, health, environmental and social responsibility strategies and policies and in the oversight of corresponding programmes. It makes recommendations to the Board to ensure the views and interests of the Group's stakeholders are considered in the Board's deliberations. [...] The Committee reviews and updates the Group's policy framework on safety, health, environment, human rights and social matters and monitors the Group's performance in setting and meeting environmental, social, safety and occupational health commitments. It also provides guidance on how the Company should reflect the views and interests of stakeholders in relation to operational, project and other business matters. The material issues and the results of this commitment are reported periodically to the committee through independent reports forming part of the committee's discussions. [...] In 2022, its main focus areas were: - Monitoring events at Los Pelambres following the concentrate pipeline incident - Overseeing measures to protect the health and safety of the Group's workforce in response to the COVID-19 pandemic - Endorsing key policies for the Group's long-term sustainable success - Reviewing implementation of the climate change strategy. [...] The Committee's regular interaction with the corporate sustainability team enables it to provide timely guidance and support should the need arise. [...] Since 2017, the Committee has been chaired by an independent director, Vivianne Blanlot, who joined the Board in 2014. Its members are Jorge Bande, Juan Claro, Ramón Jara, Michael Anglin and Eugenia Parot. The CEO, Vice President of Corporate Affairs and Sustainability and the Company Secretary regularly attend meetings, as do other Directors who are not members. The Committee meets as necessary and at least twice a year. In 2022, it held five meetings.

The Board is responsible for leading and monitoring sustainability practices. It is assisted by the Sustainability and Stakeholder Management Committee which makes recommendations to ensure that environmental, social and governance (ESG) issues are included in the Board's deliberations (see pages 26-28). At the executive level, sustainability considerations guide decision-making across the organisation with particular responsibility falling on the Corporate Affairs and Sustainability area. [...] The Sustainability and Stakeholder Management Committee supports the Board in providing guidance on the Group's safety, health, environmental and social responsibility strategies and policies and in the oversight of corresponding programmes. It makes recommendations to the Board to ensure the views and interests of the Group's stakeholders are considered in the Board's deliberations. [...] The Committee reviews and updates the Group's policy framework on safety, health, environment, human rights and social matters and monitors the Group's performance in setting and meeting environmental, social, safety and occupational health commitments. It also provides guidance on how the Company should reflect the views and interests of stakeholders in relation to operational, project and other business matters. The material issues and the results of this commitment are reported periodically to the committee through independent reports forming part of the committee's discussions. [...] In 2022, its main focus areas were: - Monitoring events at Los Pelambres following the concentrate pipeline incident - Overseeing measures to protect the health and safety of the Group's workforce in response to the COVID-19 pandemic - Endorsing key policies for the Group's long-term sustainable success - Reviewing implementation of the climate change strategy. [...] The Committee's regular interaction with the corporate sustainability team enables it to provide timely guidance and support should the need arise. [...] Since 2017, the Committee has been chaired by an independent director, Vivianne Blanlot, who joined the Board in 2014. Its members are Jorge Bande, Juan Claro, Ramón Jara, Michael Anglin and Eugenia Parot. The CEO, Vice President of Corporate Affairs and Sustainability and the Company Secretary regularly attend meetings, as do other Directors who are not members. The Committee meets as necessary and at least twice a year. In 2022, it held five meetings.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Antofagasta form alliances with public and other private actors to address key industry challenges and to increase the reach and efficiency of its social investment projects and initiatives. Public-private alliances and working together with other private actors, within and beyond the mining industry, are a key part of the way Antofagasta manage its business. Antofagasta is partner in projects, such as the Antofagasta Mining Cluster, that promote the development of areas where Antofagasta have its operations. Antofagasta is also members of organisations that, like Chile's National Hydrogen Association (H2 Chile) and the International Council on Mining and Metals (ICMM), enable us to join forces with other companies to address industry challenges such as the need to reduce greenhouse gas emissions.

Antofagasta's Climate Change Strategy, through its pillar 5 "Stakeholder Integration", includes the vision of stakeholders in order to identify social trends, develop projects that generate positive externalities and co-benefits in the supply chain, manage reputational risks and contribute
to the design of public policies to address challenges and take advantage of opportunities in an integral manner.

In Antofagasta's social investment programmes, it tend to form alliances for their implementation, often with local foundations. In the case of the Group Technology Transfer Programme Antofagasta is implementing in the Choapa Valley, Los Pelambres is collaborating with the Ministry of Agriculture and the government's Institute for Agricultural Research (INIA) to foster efficiency gains in agricultural irrigation.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes