Company: SQM
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0000909037-25-000020
Chunk: 165

Company: CHEMICAL & MINING CO OF CHILE INC
Filing Date: 2025-04-24
Form: 20-F
Item: Item 7
Chunk 165
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490 Series B common shares held by Tianqi in the form of ADRs described in footnote (1) above. 
As of March 31, 2025, SQM did not have a Controller Group.
Tianqi Extrajudicial Agreement with the FNE
In August 2018, after an investigation by the FNE in connection with the proposed acquisition by Tianqi of 23.77% of the Company’s then-outstanding total shares, Tianqi and the FNE entered into an extrajudicial agreement (the “Extrajudicial Agreement”) which implemented certain restrictive measures in order to (i) maintain the competitive conditions of the lithium market, (ii) mitigate the risks described in the Extrajudicial Agreement and (iii) limit Tianqi’s access to certain information of the Company and its subsidiaries, which are defined as sensitive under the Extrajudicial Agreement (“Sensitive Information”) (collectively, the “Purpose”). Pursuant to the Extrajudicial Agreement, Tianqi agreed that, among other things:
•Tianqi will not nominate any of its directors, executives or employees to the SQM Board of Directors;
•Tianqi and the directors nominated by it will not influence or intervene for the benefit of Tianqi and prejudice the interests of SQM;
•The directors nominated by Tianqi will not participate nor will they be part of any committees, the management or other decision-making bodies related to lithium of SQM or of any companies controlled by SQM, unless nominated by independent directors;
•Tianqi will inform the FNE of any agreement in the lithium market, with Albemarle and/or SQM, prior to its execution;
•Tianqi will notify the FNE of any event from which it acquires control or decisive influence in SQM;
•Tianqi will disassociate any director, executive or employee appointed by third parties, who assumes a position described above in SQM;
•Tianqi will not request access to Sensitive Information from SQM;
•The directors nominated by Tianqi will not disclose Sensitive Information of SQM;
•The directors nominated by Tianqi will personally bind themselves to the obligations assumed by Tianqi with the FNE; and
•Tianqi will report to the FNE the appointments and periodic compliance with its obligations.
The restrictions will remain in place for a period of six years.
During the approval process for the Extrajudicial Agreement before the FNE, the Company expressed its concerns to the