Antofagasta Plc · LSE:ANTO
Antofagasta — Shareholder Meeting (May 2025)
18 slides from Antofagasta's shareholder meeting presentation, May 8, 2025
Slide 1: Focused on copper – Annual General Meeting
Focused on copper Annual General Meeting 8 May 2025
Slide 2: Cautionary statement
Cautionary statement This presentation has been prepared by Antofagasta plc. By reviewing and/or attending this presentation you agree to the following conditions: This presentation contains forward-looking statements. All statements other than historical facts are forward-looking statements. Exampl
Slide 3: Antofagasta investment case: Focused on copper
Antofagasta investment case Focused on copper Delivering the… Energy security and Pure-play electrification copper with… Pure Copper Attractive High Strong Lower attributes margins growth risk built on… Solid Leaders in Strong balance Dividend foundations sustainability sheet commitment Underpinned
Slide 4: Health and safety
Health and safety Prioritising safety to deliver value Fatalities High Potential Incidents Lost time injury frequency rate Zero Fatal incidents in 2024 38% Reduction YoY, including HPI- 0.57 Maintaining a rate below industry- (2023: none). free year at Zaldívar benchmarks 1.33 0.86 0.8 0.63 0.57 202
Slide 5: Our people: Promoting workforce balance
Our people Promoting workforce balance Total workforce Workforce balance Ambition 29,877 26.6% People including employees and Of our employees are women 30% Female participation by the contractors end of 2025 26.6% 23.6% 20.4% 17.2% 14.7% 2020 2021 2022 2023 2024 5 Antofagasta plc | 2025 Annual Gene
Slide 6: 2024 Summary
2024 Summary Delivery of profitable and responsible growth Robust operational delivery Strong financial performance with copper production with EBITDA margin 664 kt 52 % at a net cash cost EBITDA increase (YoY) $1.64/lb + 11 % Net debt / EBITDA Full Year dividend (proposed) 0.48 x 31.4 cps Committed
Slide 7: Copper market outlook
Copper market outlook Positive fundamentals Total copper consumption1 Copper supply (primary)1 Supply gap emerging1 +2.4% forecast CAGR (2024-2035) -1.2% forecast CAGR (2024-2035) 900kt approvals required per annum to meet rising consumption Electrification and energy Geological constraints Lack of
Slide 8: Growth pipeline
Growth pipeline Indicative pathway to achieve growth Los Pelambres growth Centinela growth Increasing grade Increasing throughput Mine plan progressing through Medium term 2Y low grade window (‘24-’25) 107ktpd Ore grades processed Existing Concentrator capacity (+ Cathodes) +30% FY25: Production 660
Slide 9: Projects update: Los Pelambres
Projects update: Los Pelambres Updating and expanding key infrastructure for the future Image: Concentrate pipeline – cranes installing the new pipeline along the lower section Image: Desalination plant – concrete pad with existing pumps (right) and space for expansion (left) Image: Concentrate pipe
Slide 10: Project update: Centinela Second Concentrator Project
Project update: Centinela Second Concentrator Project Planned expansion of production volumes and margins Image: Foundations and steel structure to house tertiary crushers, main concentrator site Image: Newly assembled mining equipment Image: Installation of ore rehandling tunnels, main concentrator
Slide 11: Community engagement
Community engagement Long-term positive relationships Somos Choapa Los Pelambres Northern Chile 10 Celebrating 10 years of +150 Projects under Somos Choapa 48 initiatives implemented through partnership and empowerment during past 10 years ‘Dialogues for Development’ Programme 11 Antofagasta plc | 2
Slide 12: Electrification: Goal of carbon neutrality by 2050
Electrification Goal of carbon neutrality by 2050 Scope 1 and 2 emissions Scope 3 emissions Emissions journey 50% Target for reducing by 2030 10% Target for reducing by 2035 1.75 Emissions intensity (tCO2e/tCu) (absolute basis) (against projected basis) 2.79 2.56 1.75 1.75 1.69 2020 2021 2022 2023 2
Slide 13: Climate resilience: Water transition process underway
Climate resilience Water transition process underway Desalinated water Target Sea water 400 l/s 90% Capacity of Los Pelambres’ new Of the water use to be sea water 58% Of total extracted water in 2024 desalination plant or recirculated water 42.8 33.1 Continental 37.7 39.7 59.8 38.9 water sources 48
Slide 14: Innovation and operating excellence
Innovation and operating excellence Developing and deploying modern technologies IMAGE IMAGE IMAGE IMAGE Cuprochlor-T® Centinela Second Concentrator First for South America Los Pelambres Innovation reducing costs +70 % HPGRs High-pressure grinding rolls Hydrogen Trolley Powered train unveiled in lat
Slide 15: Beyond our operations: Exploration and investments
Beyond our operations Exploration and investments Cachorro exploration Encierro exploration Investment in Compañía de project, Chile (100% ANTO) project, Chile (61.9% ANTO) Minas Buenaventura S.A.A. 1.26% Mineral Resource copper grade 0.65% Mineral Resource copper grade 19% Of outstanding shares hel
Slide 16: Zaldívar: Mine life extension and water transition
Zaldívar: Mine life extension and water transition Permitting process advanced 2023 • Environmental impact assessment submitted January 2025 • Third round of comments received (ICSARA 3). March 2025 • Final round of responses submitted (ADENDA 3). April 2025 • Services opinion. May 2025 In progress
Slide 17: Year ahead: Key priorities for 2025
Year ahead Key priorities for 2025 • Sustain high standards in safety and sustainability performance. • Deliver growth in production and lower costs in line with guidance. • Maintain strong start to development of major projects. • Preserve strong balance sheet and capital allocation framework. • Ad
Slide 18: Focused on copper
Focused on copper Annual General Meeting 8 May 2025