Can you discuss SQM’s performance in 2023 and recent achievements?

2023 was a year of significant achievements for SQM. The agreements reached with Ford Motor Company and LG Energy Solution not only strengthened our leadership in the lithium industry but also boosted the transition towards more sustainable global mobility. The choice of these leading companies shows confidence in the high quality of our products. Can you provide highlights from the MOU between SQM and Codelco and how the partnership will enable SQM to produce lithium sustainably?

The recent signing of the partnership between Codelco and SQM allows Chile to maintain its leadership in the global lithium market through the sustainable production of lithium in the Salar de Atacama, extending until 2060. This provides operational continuity and enables long-term investment and customer contract projections. It is excellent news for Chile and the world. The Codelco-SQM partnership aspires to a total additional production for the period 2025-2030 of 300,000 t/y of LCE and 280,000 to 300,000 t/y of LCE between 2031 and 2060, and Chile will receive 85% of the operational margin through various channels from 2031 onwards. Can you comment on the current regulatory environment in Chile in the lithium space?

The regulatory environment in Chile for the lithium industry has been constantly evolving, driven by the growing global demand for lithium and the need to ensure sustainable and responsible development. Current regulations aim to maximize economic benefits for the country while minimizing environmental impact and promoting the well-being of local communities. What is the significance of SQM's Salar de Atacama operation achieving the IRMA 75 certification, and what are the key factors and efforts that contributed to this recognition?

Achieving IRMA 75 for our lithium operations in the Salar de Atacama is a significant accomplishment and demonstrates the hard work of the entire SQM team. Committing our lithium mining operations to an IRMA audit and sharing the results transparently reflects our desire to improve and maintain an open dialogue with all stakeholders.

Key factors contributing to this recognition include our ongoing efforts to become the world's most sustainable lithium source. This involves not only meeting high environmental standards but also actively contributing to the communities surrounding the Salar de Atacama. How is SQM innovating its lithium extraction and processing techniques to stay ahead in the competitive landscape?

At SQM, we are constantly innovating lithium extraction and processing techniques through various strategies to stay ahead in the competitive landscape. We have the SQM Lithium Ventures corporate venture capital program in partnership with Endeavor, which aims to bring together companies solving problems in the water, lithium, and electromobility verticals.

We are proud to have entrepreneurs whom we see as a complement to what we are creating, with very disruptive ideas that will help us understand new technologies and leverage their creations with our knowledge. How does SQM view the future of lithium and what are the company’s plans to maximize returns in the space?

At SQM, we see the future of lithium with great optimism, driven by the growing global demand for electric vehicles and energy storage technologies. To maximize returns, the company is expanding its production capacity and investing in advanced and sustainable technologies. In 2023 alone, investment in research and development of proprietary processes reached US$40 million. In recent years, we have completed over 70 conceptual and laboratory studies with varying levels of progress and depth, according to the potential success of different brine extraction techniques. Additionally, we have made advances in production processes to improve our efficiency. From these technologies, a dozen pilot-scale studies have been defined in collaboration with various companies in the field, which are in the process of being completed.

It is essential to note that the current production and environmental authorizations create a framework of commitments that SQM fully complies with and that set limits on the size of tests to be developed with new technologies. In parallel, SQM has established long-term strategic alliances with key companies like Ford and LG Energy Solution, diversifying its lithium product portfolio and ensuring a stable market. It also maintains a strong commitment to social and environmental responsibility, collaborating with local communities, which strengthens its reputation and social license to operate.