SQM is a world leader in specialty plant nutrition, iodine, lithium, and industrial chemicals. In 2011, the company achieved record revenues of $2.1 billion and net income of $546 million, representing growth rates of 17% and 43% respectively. SQM plans to invest over $500 million in 2012 to expand production capacity of its potassium-based products and specialty businesses. This capital expenditure program aims to further strengthen SQM's position as a low-cost producer and enable it to capitalize on growing global demand for its specialty products.

1. May 2012
Natural Resources Specialty Business Growth

2. Important Notice
Statements in this presentation concerning the Company’s business outlook or future
economic performances, anticipated profitability, revenues, expenses, or other
financial items, anticipated cost synergies and product or service line growth, together
with other statements that are not historical facts, are “forward-looking statements” as
that term is defined under Federal Securities Laws.
Any forward-looking statements are estimates, reflecting the best judgment of SQM
based on currently available information and involve a number of risks, uncertainties
and other factors that could cause actual results to differ materially from those stated
in such statements.
Risks, uncertainties, and factors that could affect the accuracy of such forward-looking
statements are identified in the public filing made with the Securities and Exchange
Commission, and forward-looking statements should be considered in light of those
factors.
Natural Resources Specialty Business Growth
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3. World Leader in Specialty Businesses
US$ M* 2010 2011 ∆
Revenues 1,830 2,145 +17%
EBITDA** 691 959 +39%
Net Income 382 546 +43%
Specialty Plant Iodine & Derivatives Lithium & Derivatives
Nutrition
49% world market share KNO3† 37% world market share† 31% world market share†
2011 Revenues US$722M (34%) 2011 Revenues US$455M (21%) 2011 Revenues US$183M (9%)
27% of total 2011 gross margin 31% of total 2011 gross margin 10% of total 2011 gross margin
Potassium Industrial Chemicals †Market share figures are based on
2011 SQM estimates.
2011 Revenues US$556 M (26%) 2011 Revenues US$140M (7%) *Figures are based on IFRS
**EBITDA= Gross margin- SG&A
26% of total 2011 gross margin 7% of total 2011 gross margin expenses+ depreciation &
amortization
Natural Resources Specialty Business Growth
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4. Unique Natural Resources
Caliche Ore Salar Brines
Nitrates Potassium
Iodine Lithium
NaNO3 + KCl = KNO3 + NaCl (salt)
Sodium nitrate + Potassium chloride = Potassium nitrate + Sodium chloride
Natural Resources Specialty Business Growth
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5. Diversified Cash Flows
Exports by region 2011
Europe 27%
North America
21%
Africa & Middle East
8%
Latin America Asia & Oceania
27% 17%
• Approximately 89% of sales are exports in 2011
• Sales in more than 100 countries
• Local presence in major markets
• In 2011, SG&A expenses represented 4.3% of revenues.
Natural Resources Specialty Business Growth
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6. Potassium
26% of Total 2011 Gross Margin
MOP Market* Potassium Consumption by Crop*
60 600
Other 21%
FOB Vancouver Price**
50 Fruits &
Vegetables 22%
40 400
Million MT
30 Cotton 2%
20 200
Palm Oil 5%
10 Maize 15%
Wheat 6%
0 0
2009 2010 2011 2012E Soy 7%
Year
Sugar 9% Rice 13%
*SQM estimates
**Price as of December for respective years
• During 2011 and 2010, fertilizer markets were positively influenced by demand and a
normalization of inventory levels and optimal utilization ratios
• MOP grew about 7% in 2011 over volumes in 2010, with the Brazilian market growing over 25%
Natural Resources Specialty Business Growth
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7. Potassium
26% of Total 2011 Gross Margin
SQM Production Volumes MOP + SOP Outlook
• SQM continues its expansion of potassium-
based products in the Salar de Atacama, aiming
2000
to reach an installed capacity of approximately
1600 2 million MT in 2012
1200
Th. MT
800 • Crop prices remain strong throughout the
400 world, and SQM remains confident in the long
0
term sustainability of the potassium market
2006 2007 2008 2009 2010 2011 2012E
Year • World demand for commodity products
continues to expand as the world population
grows and farmers continue to optimize
• MOP is potassium chloride (KCl), also known as potash
• SOP is potassium sulfate (K2SO4)
utilization rates
Natural Resources Specialty Business Growth
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8. Specialty Plant Nutrition
27% of Total 2011 Gross Margin
Potassium Nitrate Main uses: Premium crops*
Competitive Advantages Demand Drivers
Others
• Chlorine free • High cost of land 9%
Vegetables
• Fully water soluble • Water scarcity Industrial 41%
Crops
• 100% Natural origin • Demand for premium 28%
• Fast absorption crops
Modern Agricultural
Techniques Fruits
22%
*SQM estimates
Natural Resources Specialty Business Growth
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9. Specialty Plant Nutrition*
27% of Total 2011 Gross Margin
Outlook
SQM KNO3 Market* •Continued average price increases
1,200 1,000
•North American and European markets
SQM SPN Average Price
1,000 800 will continue to be demand motivators
800
600
Th MT
600
400
400
200
Potassium Nitrate Market Players*
200
Others 7%
0 0
2009 2010 2011 2012E
Kemapco 12%
Year
SQM 49%
Overview 2011
• Completion of new potassium nitrate facility
in Coya Sur (300,000 tons/year) Haifa 32%
• North American and European vegetable and
tomato markets were principal motivators of
demand
*SQM estimates
Natural Resources Specialty Business Growth
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10. Iodine
31% of Total 2011 Gross Margin
Market Size 2011: 30,800* Main Uses*
X-Ray Contrast
Others 2% Others 18% Media 20%
USA 4% Human
Nutrition 3%
SQM 37%
Recycling 15%
Nylon 4% Animal
Nutrition 8%
Fluoro
Derivatives 6%
Others Chile
22% Biocides 6% LCD 11%
Iodophors 12% Pharmaceutical
Japan 20%
12%
*SQM estimates.
• Approximately 55% of applications are related to human and animal health and nutrition.
• SQM is the biggest iodine producer in the world
Natural Resources Specialty Business Growth
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11. Iodine
31% of Total 2011 Gross Margin
Iodine Market* Overview 2011
35 40
• Market demand and prices in 2011 reached
30 35 historical highs
• From 2009 through 2011, SQM captured a
Iodine Price US$/kg
25 30
TThousand MT
20
25 large part of the market growth
20
15
15
10 10
5
Outlook
5
• SQM continues to be a world leader in
0 0
2008 2009 2010 2011 2012E iodine; and will expand if world demand
Year exists
• Future demand growth expected to
maintain a positive trend
*SQM estimates
Natural Resources Specialty Business Growth
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12. Lithium
10% of Total 2011 Gross Margin
Lithium Market 2011: 136,500 MT* Main Uses*
Chemical Others 13%
Others 3%
FMC 11% Processes 1%
SQM 31% Pharmaceutical
2% Batteries 33%
Australia 14% Aluminum 2%
Polymers 3%
A/C 5%
Continuous
Chemetall 19% Casting 4%
China 22%
Glazes 10%
Glass 16%
Lubricating
greases 11%
*SQM estimates.
• Battery technology for portable devices has historically been the demand driver for this market
• If only lithium chemicals are considered, SQM’s market share is 38%
Natural Resources Specialty Business Growth
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13. Lithium
10% of Total 2011 Gross Margin
Overview 2011
Lithium Market* • Global demand CAGR (1997-2011): 6%-7%
• Expected growth for 2012; ~ 10%
160 7,000
6,000
• Current lithium carbonate plant capacity 48,000
140
Lithium Average Price
5,000
MT/year,
120
TH. MT LCE
4,000
100
3,000
Outlook
80
2,000
• Total production of e-cars (HEV-PHEV-EV) using
60 1,000
lithium-ion batteries (LIB) is expected to reach 1.5-
40 0
3.0 million (2015), 5.0-10.0 million (2020)
2008 2009 2010 2011 2012E • Total lithium demand is expected to reach 250-
Year 300 KMT-LCE (2020)
*SQM estimates
Natural Resources Specialty Business Growth
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14. Industrial Chemicals
7% of Total 2011 Gross Margin
• Traditional applications include: metal
treatment, water treatment, pyrotechnics,
explosives, glass manufacturing, among others.
• New demand for industrial nitrates for thermal
energy storage in solar power plants will
significantly increase nitrate consumption
• Mixture of 60% sodium nitrate and 40%
potassium nitrate
• Main projects: ACS Cobra-Sener, Aries,
Rocketdyne, Abengoa, SAMCA, Solar
Reserves
• 50 MW → ~30,000 MT of salts
Outlook
• We expect that sales for solar salts will increase
significantly in 2012
Natural Resources Specialty Business Growth
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15. Capital Expenditure Program
Over US$500 million for 2012
1. Capacity expansion for potassium-
based products in the Salar de
Atacama
2. Increased capacity in iodine and
nitrates facilities in first region,
with increased plant efficiencies
and higher quality products
3. Optimization railroad system,
other projects aimed at improving
yields and reducing costs
*Approximately 70% of capex expenditures will be
related to expansion projects
Natural Resources Specialty Business Growth
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16. Financial Performance
Revenues* Net Income*
2.500 600
500
2.000
400
US$ Million
US$ Billion
1.500
300
1.000
200
500
100
0 0
2008 2009 2010 2011 2008 2009 2010 2011
* 2008 figures prepared according to Chilean
GAAP; 2009-2011 figures are based on IFRS
numbers.
Natural Resources Specialty Business Growth
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17. Financial Performance*
EBITDA/Revenues NFD/EBITDA
50% 45% 2
42% 41%
40% 38%
30%
30%
1
20%
10%
0% 0
2007 2008 2009 2010 2011 2007 2008 2009 2010 2011
EBITDA (2007-2009): operating income + depreciation (not
including amortization)
* 2008 figures prepared according to Chilean EBITDA (2010-2011): gross margin – SGA + depreciation &
GAAP; 2009-2011 figures are based on IFRS amortization
numbers.
NFD: interest bearing debt net of cash and cash equivalents,
considering the effects of derivatives
Natural Resources Specialty Business Growth
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18. Key Conclusions
• Largest global producer, lowest cost producer, market growth.
• Specialty Plant Nutrition
• Iodine
• Lithium
• Solar Salts
• Growth opportunies and a low cost producer.
• Potassium
• Industrial Chemicals
• Solid financial position
• Focused on growth
Business flexibility according to market conditions
Natural Resources Specialty Business Growth
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