Company: SQM
Filing Date: 2025-03-05
Form Type: 6-K
Source: 0000909037-25-000007
Chunk: 7

Company: CHEMICAL & MINING CO OF CHILE INC
Filing Date: 2025-03-05
Form: 6-K
Chunk 7
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 reached US$1,372.0 million, compared to an income tax expense of US$787.3 million during the twelve months ended December 31, 2023. The income tax expense, excluding the net effect of accounting adjustments for the payments of the specific tax on mining activities for the exploitation of lithium, reached US$265.9 million for the twelve months ended December 31, 2024.

| SQM S.A. 4Q2024 Earnings release |     | 5 |

Adjusted EBITDA (4) Adjusted EBITDA for the twelve months ended December 31, 2024, was US$1,483.6 million (Adjusted EBITDA margin of 32.8%), compared to US$3,180.1 million (Adjusted EBITDA margin of 42.6%) for the twelve months ended December 31, 2023. Adjusted EBITDA for the fourth quarter of 2024 was US$328.1 million (Adjusted EBITDA margin of 30.6%), compared to US$427.6 million (Adjusted EBITDA margin of 32.6%) for the fourth quarter of 2023. Notes: (1) The Chilean Internal Revenue Service (“SII” in its Spanish acronym) has sought to broaden the application of the specific tax on mining activities in Chile to the extraction of lithium, a substance that is not concessionable by law, and has levied taxes as of December 31, 2023 in the amount of US$986.3 million on our subsidiary SQM Salar SpA. (“SQM Salar”) for the tax years 2012 to 2023 (business years 2011 to 2022) on that basis. The Company has recognized a tax expense of US$1,106.2 million for the 2024 period (US$926.7 million corresponding to fiscal years 2011 to 2022, US$162.7 million associated with fiscal year 2023, and US$16.7 million associated with fiscal year 2024). This amount reflects the potential impact on the Claims resulting from the interpretation of the ruling by the Santiago Court of Appeals. As of December 31, 2024, and December 31, 2023, the Company presents non-current tax receivables of US$59.5 million and US$986.3 million, respectively. SQM maintains its firm position regarding the erroneous application of