<SEC-DOCUMENT>0001144204-12-032320.txt : 20120530
<SEC-HEADER>0001144204-12-032320.hdr.sgml : 20120530
<ACCEPTANCE-DATETIME>20120529205646
ACCESSION NUMBER:		0001144204-12-032320
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20120529
FILED AS OF DATE:		20120530
DATE AS OF CHANGE:		20120529

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHEMICAL & MINING CO OF CHILE INC
		CENTRAL INDEX KEY:			0000909037
		STANDARD INDUSTRIAL CLASSIFICATION:	MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			F3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-65728
		FILM NUMBER:		12875558

	BUSINESS ADDRESS:	
		STREET 1:		EL TROVADOR 4285, 6TH FLOOR
		STREET 2:		LAS CONDES
		CITY:			SANTIAGO CHILE
		STATE:			F3
		ZIP:			00000
		BUSINESS PHONE:		5624252485
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>v314773_6k.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES OF AMERICA</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">REPORT OF FOREIGN ISSUER</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PURSUANT TO RULE 13A-16 OR 15D-16</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">OF THE SECURITIES AND EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>CHEMICAL AND MINING COMPANY OF CHILE
INC.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Translation of registrant&rsquo;s name into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>El Trovador 4285, Santiago, Chile (562)
425-2000</U></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address and phone number of principal executive
offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form 20-F </FONT><FONT STYLE="font-family: Wingdings">x</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form 40-F </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; padding: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Yes </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">No </FONT><FONT STYLE="font-family: Wingdings">x</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If &ldquo;Yes&rdquo; is marked, indicate
below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82_________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 20%; vertical-align: top; font-size: 10pt"><IMG SRC="image_001.jpg" ALT=""></TD>
    <TD STYLE="width: 60%; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For Immediate Release</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SQM REPORTS EARNINGS FOR THE FIRST QUARTER
        OF 2012</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="width: 20%; vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 36.55pt 0pt 0; text-align: justify"><U>Highlights</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 36.55pt 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">SQM generated net income for the first three months of 2012 of US$150.0
million, an increase of 34.7% over the first three months of 2011.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Earnings per ADR totaled US$0.57 for the first three months of 2012,
compared to US$0.42 for the same period of 2011.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Revenues were 10.3% higher for the first three months of 2012 than
they were for the first three months of 2011.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Santiago, Chile, May 29, 2012.
&ndash; </B>Sociedad Qu&iacute;mica y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) reported
today <B>earnings for the first quarter of 2012</B> of US$150.0 million (US$0.57 per ADR), an increase of 34.7% with respect
to the same period of 2011, when earnings totaled US$111.4 million (US$0.42 per ADR). <B>Gross Margin</B> reached US$236.3
million (44.6% of revenues), 25.9% higher than the US$187.6 million (39.1% of revenues) recorded during the first quarter of
2011. <B>Revenues</B> totaled US$529.6 million for the first quarter, representing an increase of 10.3% over the US$480.0
million reported in the same period of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SQM&rsquo;s Chief Executive Officer, Patricio
Contesse, stated, &ldquo;We are very pleased with our first quarter earnings results. Increased average prices in all business
lines when compared to the first quarter of 2011 has led to an increase in gross margin and has contributed to a positive start
to the 2012 fiscal year. Iodine and lithium markets continue to be strong and in line with expectations in both demand and pricing.
Fertilizer market volumes followed the trend we saw during the fourth quarter of 2011, and in recent weeks we have started seeing
positive indications.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Contesse continued, &ldquo;In response
to positive market news, we continue our major capital expansions to increase iodine production and increase production in potassium
based products; these expansions will give us the flexibility to help meet market demands in the future. Although we continue to
monitor broader financial markets and developments in Europe very closely, we remain optimistic about the remainder of 2012.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%; text-align: left; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #004600"><B>SQM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #004600">Los Militares 4290 Piso 6,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #004600">Las Condes, Santiago, Chile</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #004600">Tel: (56 2) 425 2485</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #004600">Fax: (56 2) 425 2493</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #004600">www.sqm.com</FONT><I>
</I></P>
</TD>
    <TD STYLE="width: 50%; text-align: right"><IMG SRC="image_002.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Segment Analysis</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Specialty Plant Nutrition</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenues from our Specialty Plant Nutrition
business line for the first three months of 2012 totaled US$159.1 million, a decrease compared to the US$171.0 million reported
for the same period in 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The SPN market saw increased
supply during the first quarter of 2012 as some competitors returned to normal production levels, when compared to 2011.
Demand for SPN products was also lower during the first quarter of the year; in particular, some markets such as the tomato
market in North America presented weaker conditions than expected. However, SQM saw a slight increase in volumes when
compared to the fourth quarter of 2011. We expect that market conditions will improve during the second quarter of the year
and continue throughout the second half of 2012. SQM remains confident in the SPN market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Specialty Plant Nutrition <B>gross margin<SUP>1</SUP></B>
for the first three months of 2012 accounted for approximately 22% of SQM&rsquo;s consolidated gross margin.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Iodine and Derivatives</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenues from sales of Iodine and Derivatives
during the first three months of 2012 totaled US$143.9 million, an increase of 53.3% with respect to the US$93.9 million reported
for the first three months of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Market conditions in iodine have remained
positive during the first quarter of 2012, following the trend observed in 2011. Demand in all main uses continues to grow, specifically
in x-ray contrast media and pharmaceutical uses. Iodine markets have remained tight, and average prices have increased almost 10%
when compared to the last three months of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Gross margin</B> for the Iodine and
Derivatives segment accounted for approximately 40% of SQM&rsquo;s consolidated gross margin in the first three months of 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Lithium and Derivatives</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenues for Lithium and Derivatives totaled
US$47.5 million during the first three months of 2012, an increase of 12.3% with respect to the US$42.3 million reported for the
first three months of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Demand in the lithium market remained robust
during the first three months of 2012. Demand for lithium continues to be driven mainly by battery growth, the historical demand
driver for the lithium market. Prices in this business line during the first quarter of 2012 were over 16% higher than average
prices during the first three months of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We anticipate healthy growth for the lithium
market in 2012, with battery demand potentially increasing by over 20%. As a result, our sales volumes for lithium and derivatives
should increase over 10% and reach sales levels higher than those recorded in 2011. We anticipate that prices in this segment will
continue rising during 2012 as well.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Gross margin</B> for the Lithium and
Derivatives segment accounted for approximately 10% of SQM&rsquo;s consolidated gross margin in the first three months of 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Potassium Chloride &amp; Potassium Sulfate (MOP &amp; SOP)</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Potassium Chloride and Potassium Sulfate
revenues for the first three months of 2012 totaled US$133.6 million, a 6.6% increase with respect to the first three months of
2011, when revenues amounted to US$125.3 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In general, potash fertilizer market conditions
saw slower demand during the first quarter of 2011. In recent weeks, global potash demand showed signs of improvement in major
markets, specifically Brazil. We believe these market conditions will continue throughout the year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the first quarter of 2012, our sales
volumes were almost 10% higher than those recorded during the fourth quarter of the previous year, while average prices during
this period improved over 10% over prices recorded during the same period of the previous year. Recently settled contracts in Brazil
will allow us to post higher average prices in 2012, than in 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We continue with our expansion
plans in the Salar de Atacama to increase production capacity of potassium-based fertilizers. We expect our total production
of MOP and SOP fertilizers from the Salar de Atacama to be over 25% higher than 2011 production. We continue to believe in
the long-term success of fertilizer markets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Gross margin</B> for potassium chloride
and potassium sulfate accounted for approximately 22% of SQM&rsquo;s consolidated gross margin in the first three months of 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Industrial Chemicals</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Industrial Chemicals revenues for the first
three months of 2012 reached US$32.3 million, 5.8% lower than the US$34.3 million recorded for the same period of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the first quarter of 2012, volumes
were lower than the first quarter of 2011, while prices increased over 20% when compared to the same period in 2011. Volume decreases
were caused mostly by a decrease in the demand of the explosive market. However, demand of industrial-grade potassium nitrate has
seen significant increases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SQM still expects volumes in this business
line to increase significantly during 2012 compared to 2011 based primarily on the increased sale of solar salts, a powerful element
used for alternative energy sources. The majority of our solar salt sales will be realized during the second half of 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Gross margin</B> for the Industrial
Chemicals segment accounted for approximately 5% of SQM&rsquo;s consolidated gross margin in the first three months of 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Other Commodity Fertilizers &amp; Other Income</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Revenues from sales of other commodity fertilizers and other
income reached US$13.2 million in the first three months of the year, very consistent with the US$13.3 million for the same period
of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Administrative Expenses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Administrative expenses totaled US$23.0
million (4.3% of revenues) for the first three months of 2012, compared to the US$20.6 million (4.3% of revenues) recorded during
the same period of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Net Financial Expenses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Net financial expenses for the first three months of 2012 were
US$6.5 million, compared to the US$5.0 million recorded during the same period of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.55pt; text-align: justify">1) Gross margin corresponds
to consolidated revenues less total costs, including depreciation and amortization and excluding sales and administration expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.55pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.55pt; text-align: justify">A significant portion of SQM&rsquo;s
costs of goods sold are costs related to common productive processes (mining, crushing, leaching, etc.) which are distributed among
the different final products. To estimate gross margins by business lines in both periods covered by this report, the Company employed
similar criteria on the allocation of common costs to the different business areas. This gross margin distribution should be used
only as a general and approximated reference of the margins by business line.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>About SQM</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SQM is an integrated producer and distributor
of specialty plant nutrients, iodine, lithium, potassium-related fertilizers and industrial chemicals. Its products are based on
the development of high quality natural resources that allow the Company to be a leader in costs, supported by a specialized international
network with sales in over 100 countries. SQM&rsquo;s development strategy aims to maintain and strengthen the Company&rsquo;s
position in each of its businesses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The leadership strategy is based on the
Company&rsquo;s competitive advantages and on the sustainable growth of the different markets in which it participates. SQM&rsquo;s
main competitive advantages in its different businesses include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Low production costs based on vast and high quality natural resources;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Know-how and its own technological developments in its various production processes;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Logistics infrastructure and high production levels that allow SQM to have low distribution costs;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">High market share in all its core products;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">International sales network with offices in more than 20 countries and sales in over 100 countries;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Synergies from the production of multiple products that are obtained from the same two natural
resources;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Continuous new product development according to the specific needs of its different customers;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Conservative and solid financial position.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For further information contact:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Kelly O&rsquo;Brien, 56-2-4252074 / kelly.obrien@sqm.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Isabel Bendeck, 56-2-4252058 / isabel.bendeck@sqm.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mark Fones, 56-2-4252271 / mark.fones@sqm.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For media inquiries contact: Fabiola Scianca
/ fabiola.scianca@sqm.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Statements in this press release concerning
the Company&rsquo;s business outlook, 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 &ldquo;forward-looking statements&rdquo; as that term in defined under Federal Securities Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Forward-looking statements</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any forward-looking statements are estimates
that reflect the best judgment of SQM management 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 should be considered in light of those factors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="4" STYLE="border-top: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 12pt; font-weight: bold; text-align: center">Income Statement</TD>
    <TD NOWRAP STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic">(US$ Millions)</TD>
    <TD NOWRAP COLSPAN="4" STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; font-weight: bold; text-align: center">For the 1st Quarter</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">2012</TD>
    <TD NOWRAP COLSPAN="2" STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">2011</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 2%; border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 69%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 14%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 2%; border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">Revenues</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">529.6</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">480.0</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Specialty Plant Nutrition*</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">159.1</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">171.0</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Iodine and Iodine Derivatives</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">143.9</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">93.9</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Lithium and Lithium Derivatives</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">47.5</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">42.3</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Potassium Chloride &amp; Potassium Sulfate</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">133.6</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">125.3</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCFFCC">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Industrial Chemicals</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">32.3</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">34.3</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Other Income</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">13.2</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">13.3</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">Cost of Goods Sold</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(246.4)</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(250.3)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">Depreciation and Amortization</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(47.0)</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(42.1)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">Gross Margin</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">236.3</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">187.6</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Administrative Expenses</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(23.0)</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(20.6)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Financial Expenses</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(12.1)</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(10.6)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Financial Income</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">5.5</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">5.7</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Exchange Difference</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(4.9)</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(2.9)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Other</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2.7</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(8.1)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">Income Before Taxes</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">204.5</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">151.1</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">Income Tax</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(52.8)</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">(39.0)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">Net Income before minority interest</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">151.8</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">112.1</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Minority Interest</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(1.7)</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">(0.7)</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-top: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">Net Income</TD>
    <TD NOWRAP STYLE="border-top: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">150.0</TD>
    <TD NOWRAP STYLE="border-top: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="border-top: windowtext 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">111.4</TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Net Income per Share (US$)</TD>
    <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">0.57</TD>
    <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; border-right: Black 1pt solid">0.42</TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: left; width: 50%">SQM S.A. 1Q12 Earnings Release</TD><TD STYLE="text-align: right; width: 50%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP COLSPAN="5" STYLE="border-top: windowtext 1pt solid; border-right: black 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 12pt; font-weight: bold; text-align: center">Balance Sheet</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 62%; border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 18pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 17%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-size: 18pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic">(US$ Millions)</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; font-weight: bold; text-align: center">As of March 31</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; font-weight: bold; text-align: center">As of Dec. 31</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">2012</TD>
    <TD NOWRAP COLSPAN="2" STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">2011</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">Total Current Assets</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">2,133.0</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,956.4</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; Cash and cash equivalents</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">449.2</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">445.0</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; Other current financial assets</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">206.8</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">169.3</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; Accounts receivable (1)</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">612.3</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">529.2</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; Inventory</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">812.1</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">744.4</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; Others</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">52.7</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">68.6</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">Total Non-current Assets</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,956.0</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,915.2</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; Other non-current financial assets</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">45.0</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">30.5</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; Investments in related companies</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">63.2</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">60.7</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; Property, plant and equipment</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,777.4</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,755.0</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp; Other Non-current Assets</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">70.4</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">68.9</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">Total Assets</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">4,089.0</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,871.6</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">Total Current Liabilities</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">660.5</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">629.3</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp; Short-term debt</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">172.6</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">161.0</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp; Others</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">487.9</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">468.3</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">Total Long-Term Liabilities</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,413.9</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">1,377.9</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp; Long-term debt</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,271.8</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,237.0</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;&nbsp;&nbsp;&nbsp; Others</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">142.0</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">140.9</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Shareholders&rsquo; Equity before Minority Interest</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,961.3</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,812.8</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Minority Interest</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">53.3</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">51.5</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Total Shareholders&rsquo; Equity</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">2,014.6</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">1,864.4</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold">Total Liabilities &amp; Shareholders&rsquo; Equity</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">4,089.0</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3,871.6</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD NOWRAP STYLE="border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Liquidity (2)</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3.2</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-weight: bold; text-align: right">3.1</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1) Accounts receivable + accounts
receivable from related co.</P>

<P STYLE="margin: 0pt 0">(2) Current assets / current liabilities</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: left; width: 50%">SQM S.A. 1Q12 Earnings Release</TD><TD STYLE="text-align: right; width: 50%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><B>SOCIEDAD QUIMICA Y MINERA DE CHILE S.A.</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 47%">&nbsp;</TD>
    <TD STYLE="width: 7%">Conf:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ Ricardo Ramos</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Ricardo Ramos<BR>Chief Financial Officer &amp; Business Development SVP</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>Date:</TD>
    <TD STYLE="vertical-align: top">May 29, 2012</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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