Slide 1: Focused on Copper: Site Visit Presentation Day 2 (Centinela)
Focused on Copper Site Visit Presentation Day 2 (Centinela) 5-6 November 2025
Slide 2: Agenda
Agenda 1 | Welcome and introduction to our team 2 | Centinela Overview 3 | People 4 | Costs and competitiveness 2 Antofagasta plc | 2025 Site Visit Presentation (Day 2, Centinela)
Slide 3: Welcome to Centinela: Introducing our team
Welcome to Centinela Introducing our team 20+ 45+ Nicolás Rivera Patricia Dowing General Manager VP Project 20+ 10+ 35+ 20+ Paulina Machuca Viviana Matus Juan Ochoa Carlos Ruiz Environment Finance & administration Second Plant Integration Project Manager 25+ 25+ 20+ Jorge Calderón Boris Astete Raúl
Slide 4: Agenda
Agenda 1 | Welcome and introduction to our team 2 | Centinela Overview 3 | People 4 | Costs and competitiveness 4 Antofagasta plc | 2025 Site Visit Presentation (Day 2, Centinela)
Slide 5: Centinela Overview
Introduction Heading Centinela Overview Sub heading Key facts: 70% 30% 230-245 kt 33 years Antofagasta Marubeni Copper production (guidance FY25) Remaining mine life1 Key highlights: Significant resource District-level High by-product endowment efficiencies content 1 st 5.2 Quartile Au/Mo Billion to
Slide 6: A world-class integrated mining district
Welcome to Centinela A world–class integrated mining district • Centinela is an integrated mining district, unlocking infrastructure and mine plan synergies. • Sourced by 100% renewable energy and 100% seawater, and efficient 21 Km tailings systems, ensuring sustainable and responsible growth. • Dri
Slide 7: A safety-first approach
Health and safety A safety–first approach • Zero Fatalities: Centinela marked 11 years without a fatality • Maintaining a Lost Time Injury Frequency Rate (LTIFR) ahead of industry benchmarks (H1 2025: 0.46)1 • H1 2025, Centinela has achieved its lowest High Potential Incident Rate (HPIR), representi
Slide 8: Responsibly delivering our purpose
Welcome to Centinela Responsibly delivering our purpose Water, energy and Transparency and Workforce Balance Communities Tailings disposal Corporate Governance 30.5% 100% 40% Top 30 Female representation Sea water (non-desalinated) Local community Recognised with the Copper employee workforce across
Slide 9: Mining at scale with advanced autonomy
Technology and innovation Mining at scale with advanced autonomy 4 open-pit Moving ∼1.0 million 40% autonomous mine movement mines tonnes/day today today, targeting 70% by 2027 1,2 Potential to further optimise value from 5.2Bt Mineral Resource1 1,1 1,0 0,9 0,4 (With gold and molybdenum by-products
Slide 10: Driving efficiency and growth
Processing capacity Driving efficiency and growth Sulphides (Centinela Concentrates) Oxides (Centinela Cathodes) • Sustained growth through optimisation: Incremental • Flexibility and long-term optionality: The oxide improvement initiatives have enabled performance to reach infrastructure offers ope
Slide 11: Integrated approach to technology
Technology and innovation Integrated approach to technology 40% In pit Cuprochlor-T® IROC HPGRs ShovelSense Autonomous trucks Thickened tailings High-pressure grinding rolls disposal Autonomous Tailing Deposits Primary sulphide Remote operations Centinela Second Case study operation at the leaching
Slide 12: Agenda
Agenda 1 | Welcome and introduction to our team 2 | Centinela Overview 3 | People 4 | Costs and competitiveness 12 Antofagasta plc | 2025 Site Visit Presentation (Day 2, Centinela)
Slide 13: People and culture
At our core People and culture Our Core Values: Leadership Badge 5 core skills: Respect I take ownership Accountability for health and safety I develop myself and help others grow Commitment to sustainability Excellence in our everyday performance I drive continuous improvement Innovation as an ongo
Slide 14: Strategic Workforce Planning
People: Key focus areas Strategic Workforce Planning What: The operation and maintenance of the new concentrator will require 205 full time employees by Q4 2026. How: • Attract and retain high-skilled talent, aligned with our culture, values, and leadership principles. • Leverage internal mobility t
Slide 15: Contributing to regional development
People: Key focus areas Contributing to regional development In 2024, more than 1,800 people 46% of our suppliers were local in In 2025, over 3,362 people from the local from the Antofagasta region were 2024, directly contributing to region have joined the Second hired during Project’s construction
Slide 16: Agenda
Agenda 1 | Welcome and introduction to our team 2 | Centinela Overview 3 | People 4 | Costs and competitiveness 16 Antofagasta plc | 2025 Site Visit Presentation (Day 2, Centinela)
Slide 17: Sustainable cost and efficiency gains
Cost and competitiveness Sustainable cost and efficiency gains Sustainable growth through efficiency and competitiveness Second concentrator business case: • Nearly $300m in savings from 2022 to 2025 enlarged production base and driving • Competitiveness programme focused on key dimensions: District
Slide 18: Driving further efficiencies
Autonomy and digitalisation Driving further efficiencies Autonomy and Labour digitalization productivity District-scale synergies Energy contracts Autonomous mine movement ▪ Reduction in mine costs YTD 2025 2027 ▪ Higher equipment utilisation rates 40% 70% ▪ Optimised truck operation workforce, impr
Slide 19: Value delivery initiatives
Labour productivity Value delivery initiatives Autonomy and Labour digitalization productivity District-scale synergies Energy contracts 9% workforce reduction since 2022 -9% Actual 1. Internal Mine Movement up by 24% → Third-party Mine Movement down 54% (∼400 FTEs) 2. Initiatives: Time-on-Tools, te
Slide 20: Focused where it matters
Competitive sourcing Focused where it matters Autonomy and Labour digitalization productivity District-scale Energy synergies contracts Energy Others ▪ 40% of Centinela’s operation cost allocated to services and energy 10% 1% Services 30% Labour 14% Breakdown of cash Energy Contracted Energy Rate ($
Slide 21: Centinela: Fundamental strengths
Key messages Centinela: Fundamental strengths Large resource endowment in one location ✓ Upside potential exists through further unlocking of Centinela’s 5.2 billion tonne Mineral Resource High byproduct content, enhancing competitiveness ✓ Once expanded, Centinela will produce 2x current gold outpu
Slide 22: Thank you
Thank you 22 Antofagasta plc | 2025 Site Visit Presentation (Day 2, Centinela)
Slide 23: Cautionary statement
Appendix 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 statement