APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER

NEWS RELEASE, 30 JANUARY 2020

APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER

Antofagasta plc today announces that Alfredo Atucha will be retiring from the Company on 31 March 2020 and will be replaced as Group Chief Financial Officer by Mauricio Ortiz, the current Vice President of Finance of the Mining Division.

Ivan Arriagada, the CEO of Antofagasta, said: "I want to thank Alfredo for his important contribution to the development of the Group over the seven years he has been CFO. He has been key in the centralisation and optimisation of our corporate centre's functions and structures, delivering significant cost savings and efficiency gains every year, and making Antofagasta the successful company it is today. I wish him well in his retirement."

Mauricio Ortiz joined the Group in 2015 and successfully led the transformation of the Transport Division, implementing a culture of safety and sustainability, winning new long-term contracts and undertaking a major investment programme to improve the efficiency and capacity of the Division's rail haulage capabilities. Mauricio previously held mining leadership roles in the finance and project development areas of Codelco and BHP. Mauricio is an electrical engineer with a Master in Metals & Energy Finance from Imperial College in London.

Commenting on the appointment of Mauricio Ortiz, Ivan Arriagada said: "Mauricio brings valuable experience to the Group and has demonstrated in his time as Vice President - Finance of the Mining Division and as head of our Transport Division that he has the skills to lead the finance function and make an important contribution to the continued success of the Company."