Company Announcements

NEWS RELEASE, 20 MARCH 2020

ACTIONS TO REDUCE RISK OF INFECTION

Size of workforce reduced at operations

Antofagasta plc (the "Company") announces that as part of its actions to prevent or slow the spread of COVID-19 it has decided to reduce the number of employees and contractors working at the Los Pelambres Expansion project and the Company's operations.

The workforce of approximately 1,900 people working on the construction of the Los Pelambres Expansion project will be reduced by approximately 75% with parts of the project being put on care and maintenance, while other areas will continue according to their original schedule. The reduction in workforce will be for at least 15 days and reviewed periodically, with a consequential delay expected in the completion of the project. The full impact of the delay is still to be estimated.

At the operations the workforce will be reduced by approximately 30% with critical employees remaining at work to ensure production continues unaffected. The reduction in people will allow greater social distancing at the operations' accommodation, catering, transport and other facilities.

The CEO of the Company, Iván Arriagada, said: "Although we have had no cases of COVID-19 at our operations, the health and safety of everyone who works at our operations remains of paramount importance. We have therefore taken these actions to reduce the risk of infection by reducing the number of people on site."