CAP (CAP) JP Morgan Emerging Markets Conference presentation summary

Operations overview

• Operates across mining, industrial, and infrastructure sectors in Chile, Peru, and Argentina, with significant local presence and ownership in key subsidiaries.

• Holds 98% of Chile's iron ore production and is the third-largest mining concession owner in the country.

• Achieved a 31% reduction in carbon emissions by 2030 and leads in sustainability indices.

• 67% of suppliers and 84% of workforce are local, emphasizing community integration.

Iron ore market analysis

• Iron ore prices remained stable in 2024 despite weak construction in China; average prices declined YoY.

• Demand for high-grade iron ore is expected to rise due to global decarbonization trends.

• Premiums for high-grade iron ore are projected to increase by 25–35% by 2040.

Strategic direction and projects

• Strategy 2030 focuses on decarbonization materials, green steel, rare earths, and sustainable infrastructure.

• $2.2 billion CAPEX plan aims to add 6mtpy iron ore capacity by 2032, mainly outside Huasco Valley.

• Strategic partnership with Aclara Resources for rare earths, including a 20% stake in Modulo Penco and a JV for REE alloys.

• Huachipato 2.0 project targets long-term innovation, ecological conservation, and industrial development.