MENU GLOBAL SITES SECTION MENU FRAMEWORK & STRUCTURE Home About Us Corporate Governance Framework & Structure ABOUT US Strong and effective governance is essential to the long-term success of our Group. Our governance structures are designed to enable us to focus on the matters and issues that will shape our future. Antofagasta plc Board The Board’s role is to promote the long-term, sustainable success of the Company, generating value for shareholders and contributing to wider society. The Board has established the Company’s purpose, values, strategy, and risk appetite and monitors the culture of the Group as well as its performance against defined measures. Key responsibilities: Culture Strategy and management Governance Shareholder engagement Internal controls, risk management and compliance Financial and performance reporting Structure and capital Approving material transactions For more information, please read the Schedule of Matters Reserved for the Board (PDF) For more information on the responsibilities of the Chairman, the Senior Independent Director and the CEO, please see the Responsibilities of the Chairman, Senior Independent Director and the Chief Executive Officer (PDF) Board Committees The Board is assisted in discharging its responsibilities by five Board Committees. Nomination and Governance Audit and Risk Sustainability and Stakeholder Management Projects Remuneration and Talent Management The Board has delegated authority to these Committees to perform certain activities as set out in their terms of reference. The Chair of each Committee reports to the Board following each Committee meeting, allowing the Board to understand and, if necessary, discuss matters in detail and consider the Committee’s recommendations. CEO and Executive Committee The Board has delegated day-to-day responsibility for implementing the Group’s strategy and fostering the corresponding organisational culture to the Company’s CEO, Iván Arriagada. Mr Arriagada is not a Director of the Company but is invited to attend all Board and Committee meetings and is supported by the members of the Executive Committee, each of whom has executive responsibility for his or her respective function. Mr Arriagada chairs the Executive Committee. The Executive Committee reviews significant matters and approves expenditure within designated authority levels. The Executive Committee leads the annual budgeting and planning processes, monitors the performance of the Group’s operations and investments, evaluates risk, and establishes internal controls, promoting the sharing of best practices across the Group. Subcommittees of the Executive Committee The Executive Committee is assisted in its responsibilities by the Operating Performance Review Committee, the Business Development Committee, the Disclosure Committee, the Ethics Committee and, from time to time, Project Steering Committees. Members of the Executive Committee also sit on the boards of the Group’s operating companies and report on the activities of those companies to the Board, Mr Arriagada and the Executive Committee. Following the introduction of the EU Market Abuse Regulation, the Board adopted its current Disclosure Procedures Manual and delegated to the Disclosure Committee primary internal responsibility for identifying information that may need to be disclosed to the market and for managing the disclosure of such information. 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