SQM Fourth Quarter 2017 Earnings Conference Call

1. SQM
2017 RESULTS

2. 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.
SQM
Important Notice
2

3. 3
Potassium
Specialty Plant
Nutrients
Iodine &
Derivatives
Lithium &
Derivatives
Industrial
Chemicals
FERTILIZERS
SQM at a Glance
2 0 1 7 R e v e n u e s : U S $ 2 . 2 b i l l i o n | 2 0 1 7 E B I T D A : U S $ 8 9 4 m i l l i o n | E B I T D A M a r g i n L T M : ~ 4 1 %
N F D / E B I T D A : . 3 | M o o d y ´ s : B a a 1 | S t a n d a r d a n d P o o r ´ s : B B B
SPECIALTY CHEMICALS
18%
32%
12%
30%
6%9%
19%
7%
60%
6%
Revenue Gross Profit
Contribution to Revenue vs. Gross Profit 20171
1 Excluding “Others”

4. • High concentrations of potassium and lithium
• High evaporation rates
• Production rights are pursuant to a lease
agreement with CORFO until 2030
• Technology and experience to efficiently operate
Caliche Ore
Technology and experience to efficiently operate
• Caliche ore is only found in Chile
• The world’s largest deposits of nitrates and
iodine
• Proprietary mining rights pursuant to
exploitation concessions
Salar Brines
Sodium nitrate + Potassium chloride =
Potassium nitrate + (Sodium chloride)
+
NaNO3
KCl = KNO3
Sustainable Operations in the North of Chile
4
Natural Resources and Experience

5. Review of Results
US$Million
US$Million
611
607 607 620
736 743 763
763
0
(4)
12
116 7 22
(2)
400
500
600
700
800
900
Revenue Contribution
2017/2016
Gross Profit Contribution
2017/2016
Prices increased significantly in lithium business line. Impact of higher volumes outweighs lower prices in
iodine and industrial chemical business lines. Higher prices in potassium business line compensated for lower
sales volumes.
5
SPN Iodine Lithium I.Chem. Potassium
P
Q
1939
1939
2013 2034
2164 2171 2157
2157
0
73 21
130 31
(24) (14)
1600
1900
2200
2500

6. Payments Production allowance
New Agreement
CORFO
Example1
Capacity Expansion Options
SQM Capacity Expansions in Chile
Li2CO3: 48,000 MT to 70,000 MT in 2018
70,000 MT to 100,000 in 2019
LiHO: 6,000 MT to 13,500 MT in 2018
Li2CO3 LiHO
US$/MT % US$/MT %
<4,000 6.80% <5,000 6.80%
4,000-5,000 8.00% 5,000-6,000 8.00%
5,000-6,000 10.00% 6,000-7,000 10.00%
6,000-7,000 17.00% 7,000-10,000 17.00%
7,000-10,000 25.00% 10,000-12,000 25.00%
>10,000 40.00% >12,000 40.00%
Original Agreement % US$/MT
Li2CO3, LiHO 6.80% 884
KCL 1.80% 5.04
New Agreement
Li2CO3 19.78% 2,572
LiHO 14.85% 1,930
KCL 3.00% 8.40
1Avg. price lithium: US$13,000/MT, potassium: US$280/MT
Total production quota until 2030: 349,553 MT of
LME:
New quota: 185,767
Additional quota: 112,723
Efficiency quota: 51,063
Reminder original quota: 64,816
Total 2.2 million MT of LCE
Expansion 1: 50,000 MT by 2023
Expansion 2: 100,000 MT (in 4 stages of 25k MT)
6

7. Lithium and
Derivatives
2017: 23% Market Share
49.7k MT Sales Volumes
US$645 mm Revenues
60% Contribution to Gross Profit
SQM Lithium Projects
Argentina Australia
• Minera Exar, 50/50 JV
• Caucharí-Olaroz, Jujuy
• Capacity 25,000 MT - I stage in 2020
• Mt. Holland integrated project, 50/50 JV
• Capacity 40,000 MT in 2021
Chile
LITHIUM CARBONATE
• Current capacity 48,000 MT
• Expansion to 70,000 MT in 2018
• Expansion to 100,000 MT in 2019
LITHIUM HYDROXIDE
• Current capacity 6,000 MT
• Expansion to 13,500 MT in 2018
Lithium Carbonate & Hydroxide
7

8. Iodine and
Derivatives
• Lowest-cost producer
• Main uses: X-ray contrast media - 23%, pharmaceuticals –
13%, LCD - 12%.
• Expansion to 14,000 MT per year by end-2018
• Average prices in 4Q2017 ~US$20
• Global demand in 2017 ~35,300 MT (~3% annual growth)
2017: 35% Market Share
12.7k Sales Volumes
US$252 mm Revenues
7% Contribution to Gross Profit
Iodine
8

9. Specialty Plant
Nutrients
2017: 54% KNO3 Market Share
966.2k MT Sales Volumes
US$697 mm Revenues
19% Contribution to Gross Profit
• Potassium nitrate (KNO3) provides unique benefits: chlorine-free,
water soluble, and fast absorption
• Water soluble segment grows at ~5% per year
SQM competitive advantage:
• Access to reserves of both potassium and nitrates
• Developed distribution network and diverse customer base
• Current production capacity: 1.3 million MT/year,
expansion to 1.5 million MT/year in 2018
Potassium Nitrate (KNO3)
9

10. Potassium Chloride & Sulfate
Potassium
2017: <3% Market Share
1.3 million MT Sales Volumes
US$379 mm Revenues
9% Contribution to LTM Gross Profit
• MOP is the most common used potassium based fertilizer
• 2017 market size ~ 63 million MT
• Major players in Belarus, Canada and Russia
• Slight price recovery seen in 2017, average prices in 2017
~US$282/MT
SQM competitive advantage:
• Low-cost producer of MOP
• Flexibility to produce MOP, SOP and KNO3 depending on
market needs
• Effective production capacity: 2 million MT/year (including KCL
for KNO3 production), expected sales in 2018 ~1 million MT
10

11. Solar Salts
Industrial
Chemicals
2017: 167.6k MT Sales Volumes
US$136 mm Revenues
6% Contribution to Gross Profit
• Various traditional uses for industrial nitrates related to glass, metal treatment and
explosives
• Solar Salts:
• A 50MW parabolic CSP plant with 7.5 hours of indirect storage requires ~30k MT of
solar salts
• Project being developed in Europe, Northern and Southern Africa, Middle East, Chile,
China and Australia
• Prices remained flat in 2017 compared to 2016
• Sales volumes ~ 88k MT in 2017
SQM competitive advantage:
• Operational flexibility with certain industrial sodium and potassium nitrate products
• Production of both potassium nitrate and sodium nitrate, the two raw materials in
solar salts production
11

12. Historical Maintenance CAPEX: ~US$100 million
2016-2018: Lithium Hydroxide Expansion to 13.5k MT:
~US$30 million
2017-2018: Potassium Nitrate Expansion to 1.5m MT:
~US$50 million
2017-2019: Lithium Carbonate Expansion to 100k MT:
~US$170 million
2017-2018: Iodine capacity expansion to 14k MT: ~US$30
million
CAPEX Framework 2018: ~US$517 million, including
~US$157 investments in projects outside Chile
Capex
12

13. 13
Ownership Structure1
Other Relevant Topics
Dividend Policy2
2018 Net Income distribution in 3 interim & 1 final dividend
100% 80% 60%
(a)
𝑐𝑎𝑠ℎ+𝑜𝑡ℎ𝑒𝑟 𝑐𝑢𝑟𝑟𝑒𝑛𝑡 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑎𝑠𝑠𝑒𝑡𝑠
𝑐𝑢𝑟𝑟𝑒𝑛𝑡 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠
≥ 2.5 2.0 1.5
(b)
𝑡𝑜𝑡𝑎𝑙 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠
𝑡𝑜𝑡𝑎𝑙 𝑒𝑞𝑢𝑖𝑡𝑦
≤ 1.1 1.2 1.3
If none of the above parameters is met: 50% of
2018 Net Income
1As of December 31, 2017
2Please see the full version on our website at www.sqm.com
21%
32%
32%
15%
Bank of New York (ADRS)
Nutrien
Pampa Group and Kowa Group
Other Chile
Ownership Structure1 Dividend Policy2

14. SQM
C O N T A C T I N F O R M A T I O N :
• G e r a r d o I l l a n e s : V P o f F i n a n c e
g e r a r d o . i l l a n e s @ s q m . c o m
• K e l l y O ’ B r i e n : H e a d o f I n v e s t o r R e l a t i o n s
k e l l y . o b r i e n @ s q m . c o m
• I r i n a A x e n o v a : I n v e s t o r R e l a t i o n s
i r i n a . a x e n o v a @ s q m . c o m