CODELCO AT A GLANCE December 31, 2023

Total copper production, including CODELCO’s stake in El Abra and Anglo American Sur, decreased by 8.4% to 1,424 ktons in 2023 compared to 1,553 ktons
in 2022. This decline in production was mainly driven by temporary operational difficulties during the first half of 2023. Furthermore, a seismic event at El
Teniente significantly impacted production in July. In Andina, the discontinuous operation of the concentrator affected production. Finally, Salvador faced a
ramp-up delay at Rajo Inca.
The C1 cash cost was 203.1 cents per pound in 2023, compared to 165.4 cents per pound in 2022. This increase in cash cost was primarily attributed to lower
production, increased use of inventory, and higher operational cost in local currency due to the appreciation of the Chilean peso against the U.S. dollar (in
2023, the average exchange rate was CLP 839 per U.S. dollar compared to CLP 872 per U.S. dollar in 2022).

PRODUCTION ENDED DECEMBER 31, 2023: (U.S Dollars in million)

December 31, Change
2022 2023 22/23 %
Copper Production ('000 mft) (1) 1,553 1,424 -8.4%
1,424 thousands mtf of Copper*
Cash Cost (USc/pound) 165 203 22.8%
16.9 thousand tons of Molybdenum
LME Copper Price (USc/pound) 399 382 -4.2%
Realized price (USc/pound) 375 384 2.6%
COPPER PRODUCTION* (‘000 tons) & PRICE (USc/lb)
Average Exchange Rate (CLP/US$) 872 839 -3.8%

‘000 tons USc/lb Total Revenues 17,018 16,393 -3.7%

Gross Profit 4,734 3,120 -34.1%
2,000 1,727 1,728 500 Contribution to the Chilean Treasury 2,295 1,417 -38.3%
1,706
1,553 Adjusted EBITDA (2)
5,565 4,184 -24.8%
1,500 1,424 400
Adjusted EBITDA Margin (%) 32.7 25.5 -21.9%
300
1,000 Net Financial Debt (3) 16,342 19,255 17.8%
200 Net Financial Debt to LTM Adjusted EBITDA 2.9 4.6 56.7%
500
100 (1) Total Production includes Codelco's share in El Abra and Anglo American Sur
(2)
0 0 Adjusted EBITDA is defined as Net Income plus Income Tax, Royalty, Export Tax,
2019 2020 2021 in anodic
2022 slimes
2023 Interest Expenses and Depreciation and Amortization and does not consider impaiments
** Gold and Silver contained
and other non cash-flow charges
*Includes attributable production from El Abra and AAS (3)
Consolidated Net Financial Debt includes bonds, bank loans and leasings
MOLY PRODUCTION (‘000 tons) & PRICE (US$/lb) PRE-TAX PROFIT (US$mm)
‘000 tons 7,478
USc/lb

30.0 28.0 30.0

27.0 22.0
24.0 21.0 20.0 25.0
21.0 16.9 20.0
18.0 2,769
15.0 15.0 2,092
12.0 1,343
9.0 10.0
6.0 499
5.0
3.0
0.0 0.0
2019 2020 2021 2022 2023
2019 2020 2021 2022 2023 *Consolidated Pre-tax profit does not consider Export Tax expenses (Law 13.196)

CREDIT RATINGS EBITDA (US$mm) ADJUSTED

Local Foreign Outlook
10,379
Moody’s Baa1 Negative
Standard &Poor’s BBB+ Stable
Feller AAA Stable
5,289 5,565
4,043 4,184*
HEADQUARTERS: INVESTOR CONTACT:
1270 Huérfanos St. Rocío Castillo
Santiago, Chile Investor Relations Director
(56-9) 6824 0355
e-mail: RCast054@codelco.cl
Pamela Carvajal 2019 2020 2021 2022 2023
Investor Relations
*Includes accounting adjustment due to new royalty bill.
e-mail: PCarv024@codelco.cl
 COPPERCOPPER
RESERVESRESERVES
AND RESOURCES SALES BREAKDOWN BY PRODUCT
CODELCO mineral resources and reserves as of Dec-2023 Revenues experienced a 3.7% decrease during 2023 compared to the
reported US$ 17,018 million during 2022. This decrease was primarily
influenced by lower copper sales volume, partially offset by higher
TOTAL MINERAL RESOURCES* (mm of tons)
Mineral Ore Grade (%) Copper
average prices.
Chuquicamata 2,795 0.63 17.5
Radomiro Tomic 5,072 0.43 21.7 US$ millions
Ministro Hales 1,959 0.76 15.0
Salvador 2,207 0.50 11.1 Copper 14,826
Andina 4,994 0.74 36.9
El Teniente 5,415 0.73 39.5 Molybdenum 913
Gabriela Mistral 594 0.31 1.8
CODELCO 23,036 0.62 143.5 Other Products (anodic slimes, sulfuric acid, etc.) 655
TOTAL MINERAL RESERVES (mm of tons)
Mineral Ore Grade (%) Copper
Chuquicamata 1,152 0.64 7.4 Total 16,393
Radomiro Tomic 1,975 0.51 10.1
Ministro Hales 521 0.76 4.0
Salvador 678 0.61 4.1
Andina 1,087 0.80 8.7
COPPER SALES BREAKDOWN (mtf) – As of Dec. 2023
El Teniente 1,066 0.84 8.9
Gabriela Mistral 209 0.37 0.8
CODELCO 6,687 0.66 44.0

*Mineral resources include mineral stock plus broken material

*Not Includes attributable production from El Abra and AAS Concentrates 28%

DIRECT CASH COSTS (C1) – Dec. 23

215 203.1
205 Anodes-Blister 6% Refined Copper 67%
195
185
175 165.4
165
155 141.6
145 132.7
135 129.4
125
115
105
2019 2020 2021 2022 2023 SALES BREAKDOWN BY REGION (mtf) – As of Dec.2023

ACCIDENTS FREQUENCY RATE – Dec. 23 South

America, 19%
1.0
0.83 China, 42%
0.8 0.75
0.7
0.61
0.6 0.5
North
0.4 America, 16%

0.2

0.0
2019 2020 2021 2022 2023
Rest of Asia, 14%
Europe, 10%