Dividend Information

Dividend Policy

The Group's dividend policy sets a minimum level of dividend relative to profits while considering the amount of excess cash held by the Group. The Group determines the appropriate dividend each year based on consideration of its cash balance, the level of free cash flow and earnings generated during the year, significant known or expected funding commitments and pays a total annual dividend equal to at least 35% of underlying net earnings.

Dividend Information

Each dividend on ordinary shares is paid on a specified payment date (the "Payment Date") to ordinary shareholders that are on the register at the close of business on a specified date (the "Record Date").

Dividends on ordinary shares are declared in US Dollars. Ordinary shareholders can elect to receive dividend payments in US Dollars, Pounds Sterling or Euro. This election must be received by the Company's registrar on or before the specific election date for that dividend (the "Currency Election Date"). The exchange rate to be applied to dividends paid in Pounds Sterling or Euro is set as soon as reasonably practicable after the applicable Record Date.

Making a Currency Election

Ordinary shareholders can make a currency election by completing a Currency Election Form and returning it to Computershare Investor Services PLC.

A Currency Election Form can be downloaded from Computershare Investor Services PLC's website or requested by telephone on 0370 702 0159 (from the United Kingdom) or +44 370 702 0159 (from outside the United Kingdom).

Shareholders that hold their shares electronically within CREST must make their currency election via the CREST system. (They may not use a hard copy Currency Election Form.)

A shareholder that wishes to make a currency election for a given dividend must ensure that a valid election is received on or before the Currency Election Date for that dividend. An election received after the Currency Election Date will be applied to subsequent dividends only.

A valid currency election made by an ordinary shareholder will supersede any previous currency election that it has made and, unless it makes a new election thereafter, will apply to all subsequent dividends paid on its ordinary shares for so long as it remains an ordinary shareholder. However, please note that an election might not remain in place if a shareholder sells all its ordinary shares and subsequently reacquires ordinary shares.

Methods of Payment

• Any shareholder that elects to receive its dividends in US Dollars will be paid by a cheque denominated in US Dollars.
• Any shareholder that elects to receive its dividends in Euro will be paid by a cheque denominated in Euro.
• Any shareholder that elects to receive its dividends in Pounds Sterling may instruct the Company's registrar to pay the dividends by bank transfer directly into a Pounds Sterling bank account; otherwise it will be paid by a cheque denominated in Pounds Sterling.

Default Currency of Payment

An ordinary shareholder that has made or that makes a currency election after the Currency Election Date for the previous dividend but on or before the Currency Election Date for the next dividend will receive the next dividend in the currency for which it most recently elected.

If an ordinary shareholder does not make a currency election within this period:

• If that shareholder held ordinary shares on the Record Date for the previous dividend and has held ordinary shares at all times since that date, it will receive the next dividend in the same currency in which it received the previous dividend.
• If that shareholder has acquired its holding of ordinary shares since the Record Date for the previous dividend and has not previously held shares in Antofagasta plc, it will receive the dividend in US Dollars.
• If that shareholder has acquired its holding of ordinary shares since the Record Date for the previous dividend and has previously held shares in Antofagasta plc, it will normally receive the next dividend in the currency in which it last received a dividend on ordinary shares. However, in certain circumstances (including, for example, if that shareholder has registered its new shareholding using different details than before, or if it has not held shares in Antofagasta plc in the last 12 years), that shareholder might receive the next dividend in the default currency of US Dollars.

Accordingly, a shareholder that has acquired its holding of ordinary shares since the Record Date for the previous dividend and has previously held shares in Antofagasta plc should make a currency election on or before the Currency Election Date for the next dividend or should contact the Company's registrar, Computershare Investor Services PLC (on 0370 702 0159 (from the United Kingdom) or +44 370 702 0159 (from outside the United Kingdom)), if it wishes to confirm the currency in which it will receive the dividend if it does not make any election on or before that date.

Dividend Reinvestment Plan

Antofagasta plc does not have a dividend reinvestment plan.

Dividend History

The recent dividend history of Antofagasta plc is set out below: