Santiago, October 29, 2026 - In the context of internal audits and those commissioned to the companies KPMG and EY, related to irregularities in the registration and reporting of production for the years 2024 and 2025, the Codelco board of directors became aware of new information and resolved to terminate the employment relationship of a group of eight executives and professionals from the Chuquicamata, Ministro Hales, Salvador and Casa Matriz divisions.

The measure is part of a broader process of reviewing and strengthening management, driven by the administration and the board of directors, aimed at identifying and correcting deficiencies, reinforcing control mechanisms and ensuring the integrity and reliability of corporate information.

This decision was adopted in accordance with internal regulations and current legislation, without prejudice to any other possible liabilities that may be established by the investigations that are underway by the competent bodies, as well as any legal actions that Codelco could undertake to protect its interests.

The dismissed employees include: the general manager of Salvador Division; the corporate manager of Mining Resources and Development, Head Office; the managers of Mining Resources and Development of Ministro Hales, Salvador and Chuquicamata divisions; the head of Metallurgical Valuation, of the Accounting Management, Head Office; the superintendent of Smelter Operations, Salvador Division; and the head of Quality and Metallurgical Balance of the Ministro Hales Division.

In this context, the Codelco board and management reaffirm their commitment to integrity, transparency and probity, and will continue with internal investigations and those of auditing firms, which seek to safeguard the honest, professional and responsible work that the vast majority of Codelco's workers and executives carry out daily.

Codelco will continue to provide timely updates on the progress of the ongoing investigations.

Codelco