Pampa Calichera has received an independent financial evaluation in connection with its potential merger

Sociedad de Inversiones Pampa Calichera S.A., following a proposal led by the company’s CEO, has initiated an evaluation process aimed at optimizing the group’s corporate structure, which comprises Norte Grande, Oro Blanco, Pampa Calichera, Global Mining, Nitratos de Chile and Potasios de Chile. The objective of this initiative is to reduce the number of entities from six to two, with Oro Blanco and Potasios remaining as investment vehicles.

Established in 1986, Pampa Calichera acts as an investment vehicle holding shares in Sociedad Química y Minera de Chile (SQM), without engaging in operating activities. The company holds a total interest equivalent to 19.39% of SQM, through both direct and indirect ownership stakes. SQM is one of the world’s leading companies in the lithium industry, with more than 50 years of operating history. The company is engaged in the production and commercialization of lithium and lithium derivatives, primarily used in batteries, as well as iodine, iodine derivatives and other industrial chemicals.

Oaklins’ team in Chile acted as the independent financial evaluator to Pampa Calichera and prepared a report analyzing the strategic rationale of the transaction, its effects and potential impacts on Pampa Calichera, including an assessment of whether the transaction was in the company’s corporate interest. In addition, a valuation range was developed for both Pampa Calichera and Oro Blanco to determine the share exchange ratio in the context of the proposed merger. Following the analysis, Oaklins’ report was delivered on 25 November 2025. Subsequently, at the extraordinary shareholders’ meeting held on 19 December 2025, the company approved the execution of the merger under the analyzed terms.