<SEC-DOCUMENT>0001144204-15-013742.txt : 20150304
<SEC-HEADER>0001144204-15-013742.hdr.sgml : 20150304
<ACCEPTANCE-DATETIME>20150303194518
ACCESSION NUMBER:		0001144204-15-013742
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150303
FILED AS OF DATE:		20150304
DATE AS OF CHANGE:		20150303

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:		15671377

	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>v403556_6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 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">UNITED STATES</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">Form 6-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13a-16 OR 15d-16 UNDER THE</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of February, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number 33-65728</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"><U>El Trovador 4285, Santiago, Chile (562)
2425-2000</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive office)</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">Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F. Form 20-F:_<FONT STYLE="font-family: Wingdings"><U>x</U></FONT><U>_
</U>Form 40-F</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">Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____</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">Note: Regulation S-T Rule 101(b)(1) only permits the submission
in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.</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">Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____</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">Note: Regulation S-T Rule 101(b)(7) only permits the submission
in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish
and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the
registrant&rsquo;s &ldquo;home country&rdquo;), or under the rules of the home country exchange on which the registrant&rsquo;s
securities are traded, as long as the report or other document is not a press release, is not required to be and has not been
distributed to the registrant&rsquo;s security holders, and, if discussing a material event, has already been the subject of a
Form 6-K submission or other Commission filing on EDGAR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: navy">&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 STYLE="width: 70%; padding-top: 4px; padding-left: 0; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #004600"><B>SQM</B></FONT></td>
    <td rowspan="6" style="width: 30%; font-size: 10pt; text-align: right"><IMG SRC="logo.jpg" ALT=""></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #004600">Los
    Militares 4290 Piso 6,</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #004600">Las
    Condes, Santiago, Chile</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #004600">Tel:
    (56 2)&nbsp;&nbsp;2425 2485&nbsp;&nbsp;</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #004600">Fax:
    (56 2) 2425 2493</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #004600">www.sqm.com</FONT><FONT STYLE="font-size: 10pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><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"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Santiago, Chile. March 3, 2015.- </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 twelve months ended December 31, 2014</B> of US$296.4 million (US$1.13 per ADR), a decrease from US$467.1 million (US$1.77
per ADR) for the twelve months ended December 31, 2013. <B>Gross margin<SUP>(2)</SUP></B> reached US$583.0 million (28.9% of revenues)
for the twelve months ended December 31, 2014, lower than US$721.5 million (32.7% of revenues) recorded for the twelve months
ended December 31, 2013. <B>Revenues</B> totaled US$2,014.2 million for the twelve months ended December 31, 2014, representing
a decrease of 8.6% compared to US$2,203.1 million reported for the twelve months ended December 31, 2013.</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 Company also announced earnings for
the fourth quarter of 2014, <B>reporting net income</B> of US$78.0 million (US$0.30 per ADR) compared to US$69.0 million (US$0.26
per ADR) for the fourth quarter of 2013. This comparison is affected by the sale of mining rights to Antofagasta Minerals during
the fourth quarter of 2014, which had a one-time, before-tax effect of US$13 million on net income. <B>Gross margin</B> for the
fourth quarter of 2014 reached US$140.4 million, lower than the US$146.3 million recorded for the fourth quarter of 2014. <B>Revenues
</B>totaled US$491.4 million, a decrease of approximately 0.2% compared to the fourth quarter of 2013, when revenues amounted
to US$492.2 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">SQM&rsquo;s Chief Executive Officer, Patricio
Contesse, stated, &ldquo;During 2014, we were impacted by lower prices in the iodine market; prices fell over 20% during 2014
when compared to 2013. Despite this lower pricing environment, we remain confident in our strong competitive position that has
been reinforced by our cost reduction efforts and efficient operational processes. We will work to increase our market share in
the future.&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">&ldquo;Fertilizer markets were positive
during 2014; we estimate that global demand in the potassium chloride market reached approximately 60 million tons, and we saw
some price recovery in this market during the second half of 2014. In the specialty plant nutrition business, sales volumes increased
over 3% while prices remained stable compared to 2013; this led to increased revenues in this business line. We expect this momentum
to continue into 2015, when increased sales volumes are anticipated.&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 closed by saying, &ldquo;Despite
lower prices in iodine, nitrates and lithium during the fourth quarter 2014 compared to the fourth quarter 2013, our EBITDA<SUP>(3)
</SUP>margin increased to 36.9% from 35.5% percent during this same period. These numbers prove that our cost saving program has
been successful, and we look forward to maintaining lower costs and remaining well-positioned to move quickly to meet any changes
in market demand or market dynamics in all of the main businesses in which we sell.&rdquo;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Specialty Plant Nutrition (&ldquo;SPN&rdquo;)</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">Revenues from the SPN business line for
the twelve months ended December 31, 2014 totaled US$708.0 million, an increase of 3.0% compared to $687.5 million reported for
the twelve months ended December 31, 2013.</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">Fourth quarter 2014 revenues reached US$174.2
million, 13.0% higher than the US$154.1 million reported in the fourth quarter of 2013.</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>Specialty Plant Nutrition Sales Volumes
and Revenues:</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2014/2013</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 16%; text-align: left">Sodium Nitrate</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 16%; text-align: center">Th. MT</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; text-align: right">15.8</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; text-align: right">26.2</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; text-align: right">-10.4</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">-40</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Potassium Nitrate and Sodium Potassium Nitrate</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Th. MT</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">531.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">512.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Specialty Blends</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Th. MT</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">228.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">208.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">Other specialty plant nutrients (*)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">Th. MT</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">102.5</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">100.8</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1.6</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">Specialty Plant Nutrition Revenues</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 2.5pt double">MUS$</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">708.0</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">687.5</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">20.6</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: left">*Includes trading of other specialty fertilizers.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The SPN market experienced
strong demand growth during 2014 when compared to 2013. Market growth in the agricultural potassium nitrate market was over 10%,
led by demand in North America. We expect demand in the potassium nitrate to continue to grow over 5% in 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our sales volumes in the specialty plant
nutrition business line in 2014 increased 3.6% compared to sales volumes in 2013. Potassium nitrate, our most important product
in this business line, saw growth of about 5%. In general, potassium nitrate prices are less volatile than other commodity fertilizers
such as potassium chloride; prices in the business line were basically flat in 2014 when compared to 2013.</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"><B>Gross profit<SUP>(4)</SUP></B> for
the SPN segment accounted for approximately 25% of SQM&rsquo;s consolidated gross margin for the twelve months ended December
31, 2014.</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>Iodine and derivatives</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">Revenues from sales of iodine and derivatives
during the twelve months ended December 31, 2014 were US$335.4 million, a decrease of 27.2% compared to US$461.0 million generated
for the twelve months ended December 31, 2013.</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">Iodine and derivatives revenues for the
fourth quarter of 2014 amounted to US$72.4 million, a decrease of 29.4% compared to US$102.6 million achieved during the fourth
quarter of 2013.</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>Iodine and Derivatives Sales Volumes
and Revenues:</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2014</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2013</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2014/2013</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 16%; text-align: left; border-bottom: Black 1pt solid">Iodine and Derivatives</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 16%; text-align: center; border-bottom: Black 1pt solid">Th. MT</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; border-bottom: Black 1pt solid; text-align: right">8.8</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; border-bottom: Black 1pt solid; text-align: right">9.3</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; border-bottom: Black 1pt solid; text-align: right">-0.5</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; border-bottom: Black 1pt solid; text-align: right">-5</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">Iodine and Derivatives Revenues</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 2.5pt double">MUS$</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">335.4</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">461.0</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-125.6</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-27</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">%</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">Iodine market growth was approximately
3% during 2014, and we believe that total market demand reached approximately 31,600 metric tons, of which SQM had a market share
of approximately 26%. Demand was led by growth in the X-Ray contrast media and pharmaceutical industries. We expect to see demand
growth of over 3% in 2015, in part related to lower prices. As anticipated, prices in the iodine market felt significant pressure
during 2014 when compared to recent years.</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 was not immune to lower prices, and
our prices dropped just over 23% in 2014 when compared to 2013. It is anticipated that average prices will continue to decline
throughout 2015. We believe we are the lowest cost producer in Chile, thus, we are well positioned to face this challenging environment.</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">Our sales volumes in the iodine business
line decreased approximately 5% for the twelve months ended December 31, 2014 when compared to the twelve months ended December
31, 2013. Going forward, we expect that our sales volumes will increase as we work to regain some market share.</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 profit</B> for the Iodine and
Derivatives segment accounted for approximately 24% of SQM&rsquo;s consolidated gross margin for the twelve months ended December
31, 2014.</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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenues from lithium and derivatives
totaled US$206.8 million during the twelve months ended December 31, 2014, an increase of 5.3% compared to the US$196.5 million
for the twelve months ended December 31, 2013.</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">Lithium and derivatives revenues increased
8.9% during the fourth quarter of 2014 compared to the fourth quarter of 2013. Total revenues amounted to US$52.4 million during
the fourth quarter of 2014, compared to US$48.1 million in the fourth quarter of 2013.</P>

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


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><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; text-align: justify"><B>Lithium and Derivatives Sales Volumes
and Revenues:</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2014</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2013</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2014/2013</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 16%; text-align: left; border-bottom: Black 1pt solid">Lithium and Derivatives</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 16%; text-align: center; border-bottom: Black 1pt solid">Th. MT</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; border-bottom: Black 1pt solid; text-align: right">39.5</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; border-bottom: Black 1pt solid; text-align: right">36.1</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; border-bottom: Black 1pt solid; text-align: right">3.4</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; border-bottom: Black 1pt solid; text-align: right">10</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">Lithium and Derivatives Revenues</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 2.5pt double">MUS$</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">206.8</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">196.5</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">10.4</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">5</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">%</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">The lithium market continued to grow in
2014, attributed primarily to growth in the rechargeable battery market. Demand growth reached over 9%, while demand growth in
batteries grew well over 14%. We remained a major player in the lithium carbonate market in 2014; our market share was approximately
27%.</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">Prices in the lithium carbonate market
fell slightly during 2014; this was reflected in the average prices in this business line, which were down almost 4% in 2014 when
compared to 2013. It is anticipated that existing competition will add new supply in 2015, but demand growth should exceed this
new supply and therefore we are expecting average prices to increase in 2015.</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">Our sales volumes in the lithium business
line increased almost 10% in 2014 when compared to 2013. We saw particularly strong sales volumes in the fourth quarter, in which
we reported the strongest quarterly sales volumes of 2014. We expect our sales volumes in 2015 to remain relatively stable compared
to 2014 with sales volumes totaling just below 40,000 metric tons.</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 profit</B> for the Lithium and
Derivatives segment accounted for approximately 15% of SQM&rsquo;s consolidated gross margin for the twelve months ended December
31, 2014.</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>Potassium Chloride &amp; Potassium
Sulfate (MOP &amp; SOP)</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">Potassium chloride and potassium sulfate
revenues for 2014 totaled US$584.3 million, a 3.6% decrease compared to the US$606.3 million reported for the twelve months ended
December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Potassium chloride and potassium sulfate
revenues increased 11.4% in the fourth quarter of 2014, reaching US$149.3 million compared to the US$134.0 million reported for
the fourth quarter of 2013.</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"><B>Potassium Chloride (MOP) &amp; Potassium
Sulfate (SOP) Sales Volumes and Revenues:</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2014</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2013</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2014/2013</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 16%; text-align: left; border-bottom: Black 1pt solid">Potassium Chloride and Potassium Sulfate</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 16%; text-align: center; border-bottom: Black 1pt solid">Th. MT</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; border-bottom: Black 1pt solid; text-align: right">1,556.2</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; border-bottom: Black 1pt solid; text-align: right">1,434.9</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; border-bottom: Black 1pt solid; text-align: right">121.2</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; border-bottom: Black 1pt solid; text-align: right">8</TD><TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">Potassium Chloride and Potassium Sulfate
    Revenues</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 2.5pt double">MUS$</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">584.3</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">606.3</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-22.0</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-4</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">%</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">The potassium chloride market saw strong
demand in 2014, in which we estimate that demand reached levels close to 60 million metric tons. We do not expect to see further
market growth during 2015. Prices in the market increased during the second half of 2014.</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">We continued to take advantage of our
developed distribution network, and distributed potassium chloride to customers all over the world. Our biggest market continued
to be Brazil, which in 2014, accounted for approximately one-third of our potassium chloride sales. While there is some uncertainty
surrounding the 2015 commodity fertilizer market, we expect our sales volumes in the potassium chloride and potassium sulfate
market to remain relatively flat in 2015 when compared to 2014.</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 profit</B> for the potassium
chloride and potassium sulfate segment accounted for approximately 28% of SQM&rsquo;s consolidated gross margin for the twelve
months ended December 31, 2014.</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>Industrial Chemicals</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">Industrial chemicals revenues for the
twelve months ended December 31, 2014 reached US$101.9 million, a 33.8% decrease compared to US$154.0 million for the twelve months
ended December 31, 2013.</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"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Revenues
for the fourth quarter of 2014 totaled US$18.9 million, a decrease of 23.3% compared to US$24.6 million for the fourth quarter
of 2013. </FONT></P>

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


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><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; text-align: justify"><B>Industrial Chemicals Sales Volumes
and Revenues:</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2014</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2013</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2014/2013</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 16%; text-align: left">Industrial Nitrates</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 16%; text-align: center">Th. MT</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; text-align: right">124.7</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; text-align: right">173.5</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; text-align: right">-48.8</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">-28</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">Boric Acid</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">Th. MT</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.8</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2.0</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-1.2</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-62</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">Industrial Chemicals Revenues</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 2.5pt double">MUS$</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">101.9</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">154.0</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-52.0</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-34</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">%</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">Industrial chemical demand for traditional
applications have remained relatively stable when compared to 2013. Solar salt<SUP>(5)</SUP> sales volumes for the year reached
just over 22,000 metric tons, down significantly compared to 2013.</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">Going forward, SQM has closed supply agreements
of solar salts for over 200,000 metric tons to be supplied to four new projects in Africa and Latin America between 2015 and 2017.
The majority of these volumes are expected to be recorded during the latter two years of that period. We will continue to pursue
new solar salt business in an effort to increase volumes higher than the 200,000 mentioned above. Prospects in the solar salt
market remain positive, and 2015 sales volumes in this business line are expected to be higher than sales volumes seen in 2014.</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 profit</B> for the Industrial
Chemicals segment accounted for approximately 7% of SQM&rsquo;s consolidated gross margin for the twelve months ended December
31, 2014.</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"><U>Other Commodity Fertilizers &amp; Other
Income</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">Revenues from sales of other commodity
fertilizers and other income reached US$77.7 million for the twelve months ended December 31, 2014, a decrease compared to US$97.9
million for the twelve months ended December 31, 2013.</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>Metallic Exploration</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">As part of our ongoing metals exploration
program, which takes place within our caliche mining concessions, we continue to develop a program of exploration alliances with
third parties, through option contracts. The contracts consider a participation mechanism for us through a minority shareholding
and/or royalties on metals sales. We finished the year with 12 contracts in place, two of which were signed during the fourth
quarter. Our exploration alliance objectives are to achieve and maintain close to 1 million hectares under option contracts and
establish a minimum projected exploration investment of $20 million per year through existing and future exploration alliances.</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">Direct investment by SQM in the metal
exploration program between 2011 and 2013 was approximately US$29 million, including exploration in greenfield areas and other
more advanced areas of interest, while a total investment of US$5 million was made in 2014.</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"><B><U>Financial Information</U></B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For 2014, we estimate that capital expenditure
reached approximately US$112 million, primarily related to:</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: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Development
                                         of new areas of extraction related to increasing production of nitrates and iodine in
                                         Nueva Victoria.</FONT></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: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Continued
                                         investments related to increasing the quality of nitrate related products.</FONT></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: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exploration
                                         and construction of Wells to ensure long-term sustainability and production in the Salar
                                         de Atacama.</FONT></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: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Implementation
                                         Enterprise Resource Planning, SAP.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Administrative Expenses</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">Administrative expenses totaled US$96.5
million (4.8% of revenues) for the twelve months ended December 31, 2014, compared to US$105.2 million (4.8% of revenues) for
the twelve months ended December 31, 2013.</P>

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


<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><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; text-align: justify"><B><U>Financial Indicators</U></B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net financial expenses for the twelve
months ended December 31, 2014 were US$47.2 million, compared to US$45.9 million for the twelve months ended December 31, 2013.</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>Income Tax Expense</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the twelve months ended December 31,
2014, the income tax expense reached US$108.4 million, representing an effective tax rate of 26.3%, compared to an income tax
expense of US$138.5 million during the twelve months ended December 31, 2013. The Chilean corporate tax rate was 20% during 2013
and was increased to 21% during 2014.</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>Other</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">The EBITDA<SUP>5</SUP> margin was approximately
37% for the twelve months ended December, 31 2014. EBITDA margins for the twelve months ended December 31, 2013 were approximately
38%. The Company&rsquo;s EBITDA margin for the fourth quarter of 2014 was approximately 37%.</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">Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&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: 42.55pt"></TD><TD STYLE="width: 18pt">1)</TD><TD STYLE="text-align: justify">Net income refers to the comprehensive
                                         income attributable to controlling interests.</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: 42.55pt"></TD><TD STYLE="width: 18pt">2)</TD><TD STYLE="text-align: justify">Gross margin corresponds to consolidated
                                         revenues less total costs, including depreciation and amortization and excluding administrative
                                         expenses.</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: 42.55pt"></TD><TD STYLE="width: 18pt">3)</TD><TD STYLE="text-align: justify">EBITDA = gross profit - administrative
                                         expenses + depreciation and amortization. EBITDA margin = EBITDA/revenues.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.55pt; 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: 42.55pt"></TD><TD STYLE="width: 18pt">4)</TD><TD STYLE="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 profit by business line 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.</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: 42.55pt"></TD><TD STYLE="width: 18pt">5)</TD><TD STYLE="text-align: justify">Solar salts are a mix of 60% sodium
                                         nitrate and 40% potassium nitrate used for thermal energy storage.</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"><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 115 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>

<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 20 countries and sales in over 115 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">Gerardo Illanes 56-2-24252022 / <FONT STYLE="font-family: Times New Roman, Times, Serif"><U>gerardo.illanes@sqm.com</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Kelly O&rsquo;Brien. 56-2-24252074 / <U>kelly.obrien@sqm.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Carolyn McKenzie 56-2-24252280 / <U>carolyn.mckenzie@sqm.com
</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"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
media inquiries, contact:</FONT></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">Mar&iacute;a Jos&eacute; Velozo / <U>maria.jose.velozo@sqm.com</U></P>

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


<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Cautionary Note Regarding 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">This news release contains &ldquo;forward-looking
statements&rdquo; within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by words such as: &ldquo;anticipate,&rdquo; &ldquo;plan,&rdquo; &ldquo;believe,&rdquo;
&ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;strategy,&rdquo; &ldquo;should,&rdquo; &ldquo;will&rdquo; and similar references
to future periods. Examples of forward-looking statements include, among others, statements we make concerning the Company&rsquo;s
business outlook, future economic performance, anticipated profitability, revenues, expenses, or other financial items, anticipated
cost synergies and product or service line growth.</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">Forward-looking statements are neither
historical facts nor assurances of future performance. Instead, they are estimates that reflect the best judgment of SQM management
based on currently available information. Because forward-looking statements relate to the future, they involve a number of risks,
uncertainties and other factors that are outside of our control and could cause actual results to differ materially from those
stated in such statements. Therefore, you should not rely on any of these forward-looking statements. Readers are referred to
the documents filed by SQM with the United States Securities and Exchange Commission, specifically the most recent annual report
on Form 20-F, which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking
statements. All forward-looking statements are based on information available to SQM on the date hereof and SQM assumes no obligation
to update such statements, whether as a result of new information, future developments or otherwise.</P>

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


<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="font-weight: bold; text-align: center">Balance Sheet</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-style: italic">(US$ Millions)</TD><TD NOWRAP STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; font-style: italic; text-align: center">As of Dec. 31,</TD><TD NOWRAP STYLE="font-weight: bold; font-style: italic">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; font-style: italic; text-align: center">As of Dec. 31,</TD><TD NOWRAP STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2014</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; font-weight: bold; text-align: left">Total Current Assets</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">2,511.8</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">2,455.0</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Cash and cash equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">354.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">476.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Other current financial assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">670.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">460.2</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Accounts receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">475.3</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">459.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Inventory</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">919.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">955.5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Others</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">91.7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">103.7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Total Non-current Assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2,151.8</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2,312.6</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Other non-current financial assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.4</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Investments in related companies</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75.8</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">77.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.888.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,054.4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Other Non-current Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">187.7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">181.1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Total Assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">4,663.7</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">4,767.6</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Total Current Liabilities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">523.7</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">722.6</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Short-term debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">213.2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">401.4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Others</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">310.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">321.2</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Total Long-Term Liabilities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,840.3</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,612.7</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Long-term debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,574.2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,417.4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Others</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">266.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">195.3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Shareholders' Equity before Minority Interest</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,239.8</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,376.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Minority Interest</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">59.9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">55.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total Shareholders' Equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,299.7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,432.2</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Total Liabilities &amp; Shareholders' Equity</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">4,663.7</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">4,767.6</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Liquidity</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">4.8</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">3.4</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<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 style="width: 100%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1) Accounts receivable + accounts receivable
    from related companies</FONT></td></tr>
<tr style="vertical-align: top">
    <td nowrap><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2) Current assets / current liabilities</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" NOWRAP STYLE="font-weight: bold; text-align: center">Income Statement</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; font-style: italic; text-align: center">For the twelve months <BR> </TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-style: italic">(US$ Millions)</TD><TD NOWRAP STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; font-style: italic; text-align: center">For the 4th quarter</TD><TD NOWRAP STYLE="font-weight: bold; font-style: italic">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">ended Dec. 31,</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2014</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2014</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; font-weight: bold">Revenues</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">491.4</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">492.2</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">2.014.2</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">2.203.1</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Specialty Plant Nutrition*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">174.2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">154.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">708.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">687.5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Iodine and Iodine Derivatives</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">72.4</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">102.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">335.4</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">461.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Lithium and Lithium Derivatives</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52.4</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">206.8</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">196.5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Industrial Chemicals</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18.9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">101.9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">154.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Potassium Chloride &amp; Potassium Sulfate</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">149.3</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">134.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">584.3</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">606.3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other Income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24.2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28.7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">77.7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">97.9</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Cost of Goods Sold</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(281.3</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(288.4</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(1,179.9</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(1,264.9</TD><TD STYLE="font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Depreciation and Amortization</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(69.7</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(57.5</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(251.3</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(216.8</TD><TD STYLE="font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Gross Margin</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">140.4</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">146.3</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">583.0</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">721.5</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Administrative Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(28.7</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(29.1</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(96.5</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(105.2</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Financial Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(17.7</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14.5</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(63.4</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(58.6</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Financial Income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Exchange Difference</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4.5</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(0.6</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(16.5</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12.0</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Other</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.4</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11.4</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10.5</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54.7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Income Before Taxes</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">102.4</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">93.5</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">412.2</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">613.1</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Income Tax</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(21.3</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(21.5</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(108.4</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(138.5</TD><TD STYLE="font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Net Income before minority interest</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">81.0</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">72.1</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">303.8</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">474.6</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Minority Interest</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3.1</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3.1</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7.4</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7.5</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Net Income</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">78.0</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">69.0</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">296.4</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">467.1</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Net Income per Share (US$)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.30</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.26</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.13</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.77</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<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: bottom">
    <td nowrap style="width: 100%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*Includes other specialty fertilizers</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><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">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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: right; text-indent: 0.5in"><U>CHEMICAL AND MINING
COMPANY OF CHILE INC.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">(Registrant)</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 style="width: 50%">Date: March 3, 2015&nbsp;&nbsp;</td>
    <td style="width: 50%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right">By: Ricardo Ramos</td></tr>
<tr style="vertical-align: top">
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right">CFO &amp; Vice-President of Development</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Persons who are to respond to the collection
of information contained SEC 1815 (04-09) in this form are not required to respond unless the form displays currently valid OMB
control number.</B></P>

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


<!-- Field: Page; Sequence: 10; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><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">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>logo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 logo.jpg
M_]C_X0`817AI9@``24DJ``@``````````````/_L`!%$=6-K>0`!``0```!D
M``#_X00`:'1T<#HO+VYS+F%D;V)E+F-O;2]X87`O,2XP+P`\/WAP86-K970@
M8F5G:6X](N^[OR(@:60](E<U33!-<$-E:&E(>G)E4WI.5&-Z:V,Y9"(_/B`\
M>#IX;7!M971A('AM;&YS.G@](F%D;V)E.FYS.FUE=&$O(B!X.GAM<'1K/2)!
M9&]B92!835`@0V]R92`U+C,M8S`Q,2`V-BXQ-#4V-C$L(#(P,3(O,#(O,#8M
M,30Z-38Z,C<@("`@("`@("(^(#QR9&8Z4D1&('AM;&YS.G)D9CTB:'1T<#HO
M+W=W=RYW,RYO<F<O,3DY.2\P,B\R,BUR9&8M<WEN=&%X+6YS(R(^(#QR9&8Z
M1&5S8W)I<'1I;VX@<F1F.F%B;W5T/2(B('AM;&YS.GAM<$U-/2)H='1P.B\O
M;G,N861O8F4N8V]M+WAA<"\Q+C`O;6TO(B!X;6QN<SIS=%)E9CTB:'1T<#HO
M+VYS+F%D;V)E+F-O;2]X87`O,2XP+W-4>7!E+U)E<V]U<F-E4F5F(R(@>&UL
M;G,Z>&UP/2)H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O(B!X;6QN<SID
M8STB:'1T<#HO+W!U<FPN;W)G+V1C+V5L96UE;G1S+S$N,2\B('AM<$U-.D1O
M8W5M96YT240](GAM<"YD:60Z-#A$-$-$-CA#,C`P,3%%-$$S.48X.3A%,C1!
M.3`U13<B('AM<$U-.DEN<W1A;F-E240](GAM<"YI:60Z-#A$-$-$-C=#,C`P
M,3%%-$$S.48X.3A%,C1!.3`U13<B('AM<#I#<F5A=&]R5&]O;#TB4$1&0W)E
M871O<B!697)S:6]N(#`N.2XX(CX@/'AM<$U-.D1E<FEV961&<F]M('-T4F5F
M.FEN<W1A;F-E240](F8S,#%B-&%F+6,T-3@M,3%E-"TP,#`P+3%E,V1F8S`Y
M,V,U92(@<W12968Z9&]C=6UE;G1)1#TB9C,P,6(T868M8S0U."TQ,64T+3`P
M,#`M,64S9&9C,#DS8S5E(B\^(#QD8SIC<F5A=&]R/B`\<F1F.E-E<3X@/')D
M9CIL:3XW-S!P87)T:&EP86X\+W)D9CIL:3X@/"]R9&8Z4V5Q/B`\+V1C.F-R
M96%T;W(^(#QD8SIT:71L93X@/')D9CI!;'0^(#QR9&8Z;&D@>&UL.FQA;F<]
M(G@M9&5F875L="(^-DM?-%$Q-%)E<W5L='-?,TUA<C$U/"]R9&8Z;&D^(#PO
M<F1F.D%L=#X@/"]D8SIT:71L93X@/"]R9&8Z1&5S8W)I<'1I;VX^(#PO<F1F
M.E)$1CX@/"]X.GAM<&UE=&$^(#P_>'!A8VME="!E;F0](G(B/S[_[0!(4&AO
M=&]S:&]P(#,N,``X0DE-!`0```````\<`5H``QLE1QP"```"``(`.$))300E
M```````0_.$?B<BWR7@O-&(T!UAWZ__N``Y!9&]B90!DP`````'_VP"$``$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$"`@("
M`@("`@("`@,#`P,#`P,#`P,!`0$!`0$!`@$!`@("`0("`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`__``!$(`$L`
M.P,!$0`"$0$#$0'_Q`"G```"`00"`P`````````````("@D`!`4'`0L"`P8!
M``$%`0$!`0````````````8``04'"`0"`PD0```&`0,#`@,&!`<!``````$"
M`P0%!@<1$@@`(0D3%#%!%5&1(E(6"F$R(S/P<;%"=#4V%Q$``0(%`P($`P8#
M"0$``````0(#`!$A!`4Q$@9!46$B$P=Q@121H<$R4A6Q0F+PT?%R@J(C%@A#
M_]H`#`,!``(1`Q$`/P!_;<7\P?>'3`@C<-(1IK%"<@?$Q0[@'<0^(_``_P`^
MG3YA--1#A*C4"D6<A)QL2V4>RL@QC6:11,HZD';=DV3*`:B91=RHFD0H?:(]
M>5*2@;ED!([TAC0$G0:P)&3N?G#K$(KA>.0F-VCEL`@>.AYU.TR9E`#NB5C6
MBRJ_K`(Z;3`4=>H:XS^$MEE#[[>\?U#^^41%QF\;;+*'7V1+^H3B/K)/GDXL
M5L5VV-J)EW+K\@G!`T;`HU>(<&`3`79(3*BKK8(@'?VNHZAVZ$+_`-T.*XE2
MD%1WUZBI^W0P.7G/L&E7I(.]0,I@C73I.-U^//RL8YY[7/(6+"8TMV%LN8X@
MV5R>4NV/F<VTLU"D'Y88EKJ\_'-VB*Y8N:61:R#1=%%9L=T@8HJD4W@3<:Y+
MB.46IO+!:5.HH0%3E/O+\8[^+\MQ_)0^U;`AYA4C6)7^B2"N*Z4*(?/+IY.7
MGC;QUBIU5L>(Y"R5F^S3];I;29<KLZK#)5AG&/9N5FUVHI.7:Y0F6Q&S5-1/
MU!,<YC`5,0-!9K)+Q%HJY;`**P#<VYDSPJR1=+0MU;JMJ1*=>@,B.I^40%S7
ME*\IV=VC=2*G1QK$S`&59(XUH"K$ZC<2)G$&<XZ:OWZVQ)4FTQ%S&U,`!J(A
MU1&>]RN2J<-MBV5[IS\HZ?=%>.\PY3EDI?MTEEM=0`>GC&N7>'>6.754IG,^
M2<F2Q'*\<!SWVZRZ*`%DWP1R+GZ5[ARJ1@DXW@LKZ)$T-HBH)=.JZR7(^:7B
M2YD;@6;(&BU[=P/7Y?C'T=&9<:`N;I3>\5\VL;'K/$3&-=*S6G[?6WZBB;LZ
MWT=5%ZHF=NW9NT"+N'*CA0%)`%CE*<K=1(BJ9DS&*;\0`F2R;";;UG\PT7*S
M"5DFGA*(NYQ5NFTFY=%QV9G(S,;LA\?X9@(9J9"MRL]*>Z?HNUE3!'L/:)+R
MQ8QRDD0QQ(*Z23%8R)O5$='"0F`1(H0'R7)<%9XI:E6]RYDYDI<62$D=%I)-
M9Z@==(XU-XQA"9A?J2$CMZ^/SC*\-W;7"GDDXNW$@ECXW*;#).`9\R)"I(K#
M=*N:VU=%300_":Z41BDD4V[\2^@=QZO3_P`P<L7>9.XP[ZCZJT;Y=)2F*]_"
M)WVZ(Q^>4TBB+G=/X@$C[X;Q(H!^P:Z[0$=0_B(?ZAUM@C:K:=8OHD!9;_F`
MG'LZ4/"Y_P"Y>Q4%LX+T?+K5L*LE@#D!0[$LN0@G.VK5W!]0YH1$-1(D,G+Q
MIS#II_3U^70WRBV-QB5H%2D3EWH:13'O79+N>)IR+9(79W`,I3F"-2>E0.D0
M081R);[:;'\(]O"U<K@1M4JQGH,8]>.AXN+.T)%3*K5TG[=65A?;H&3?F,1R
MU(D44U"`70<49;)W8Y`NVNWU,64RF2:$'HK=X5I*O>`CC.5?N+9EMU80GTM9
M3[?"#3@*_5A]RO9+].V,"P[IC&,PD7LNY2?,G31E%HOG3=%1BXB%X)`B@^BJ
M7TEB`B8NTF\0K+7W'+6Z>8RMX_=(IZ8UF/YA,$RZ=X))6ZDJ<O7B\1^6FW;W
M&IG.-\1LUCZ$;BM"X_09$0D&[QM)V:81D"&9-'BCLK-^5ZW&/]J[35!)30H'
M%)(H"<1WF$4?Y/QYJV^@P>(*G@2=RMRIS,]=O^$1Z[VQ2C;;6R2[^LN&OAMV
M]--8O'-H0M+%JLV/`'A$'`+,F]840<1*;M)BSBW7MU6[MXF0QBL"'4(!QVK&
M,/;=IU7_`"7+Y7,H2U>L%A*``!(@4H!H(^'J(OA)2`@C6L](#7E)D4N'6F.<
MPM%@3E<,Y<QCE=L5+3U2LZ'=H2PRA$C`'<7,(S<IFU["!]-.K?\`_/3E]:\P
M_<@"EM:/3V]I#6?CVE\XX\;E6\=GF$@@^>4YRUI#N$4^:2;%G)1ZR;F/DF;:
M08.4AU379O4B.6JR8A\2+(*E,`_8/7Z=;@5#_*#.-.;PN13^4I!G&2Z]0\`S
MY*\+!GW@1RUQ6@@+B1L.#KP^@D@+O.>T5.,&XU7TP'OZOZ@K[;;I\QZY[IH/
M-*!_-M($#?+<:WD^,W]DI,_486?]24S!^T#XPBQPVE"6;'M<=*'%4_M$$E0$
M-QRF(4A3$-H(Z&)LT$?F(=?GM[OVWTF:?U"53T_5T_&D95XM=?58Q*5F;S2U
MH)%/RF0@E#QO)+/?(*M\8>+#9PO:E8E*3F'C!=G&-8I``;+35@NUI>,Y!.J4
MJKQ[]H595!,SM=X[(@B19<R:)I_VL]I49W&HO[QO?<.J!"U$D!(UH:07VN$R
MV;?3:8R:4$^=9J$CQGX3@FLC^,OAMCFQ(43F]Y=U(#-RQ6X358KL,R=U2GR$
M@!#HMIB2N)KE]):@"I3&5D1@]Z8E4,DB7K3UEPCA^-*<6A%N;I`\QV"<S77X
M](.6N$<0LUBPR>0*LF1H'"BI\`9?PCX'//CZY+^)V%<<A,8WR$Y3\0+`$6I=
MWE99)UJP0L;+%;)UFY34`A*SE9])=9X@DULL0[]HN"Y$'S=!NHDY3!?<_P!D
M\?RO')<LMB'VR)*0-NV1U(%"GJ1_8\V7XE<X)'U%NYZF-4G;NZIG0+)Z@"2N
MH\8YR1B#`V:<51MYS9SPQU6*#?*N$BC0..>.;5G/*IHN59+)NH>:?SB-:K='
MM#,#G0=-'S!0S1R0R9M=HCT/\&X'Q+@BD_O5^A>3W:))!)[RH)?.!Q[C/&\2
MMC*9V_2^E2@0ELR4?$2(%.M8;9X"93QQF/A[Q[NF))NY6/'Q,:PM/K\WD1E%
M1M^D4L;^KCMVZNL?"J+13.SKOJNJ=V1N()>J81*``(`&H+"Y3>,)N6Q_Q%-%
M=Q\(T'B[RUR%BW>6))M%)`3.II2I@P^NZ.^+=XW;O&CEH\2(LT=-UFSI%0NY
M-5NNF9)9(Y>^XBB9Q`0^P>E.5>T>5MAY!:55*@0?@:1UR>,H!/C?F?E)A>;1
M,W3P7FO*U<3:E#552`K]BE7$.9`H`43%=P2:)DP`-!`P:=A#K&GO;QO]PS:/
M3IO<`('<SUE&+L1;?M/)LACW_P#C0F]-#Y0)[NATW:^,,*?MV4JS:J3S)RND
M$6ZRK:,JTZ->/U2(G<M*6ICQA;:<U34$ON4H9]9['+JCM$"KJ(:#J*)=NAO;
M:S1BN)M6"2GU6D2)I.9%)_9UC1WMOM_9'=H!>+JYF595VS\)3E.D0A\8^$D)
MS.SCE6FYRY>4'`&>W^6,@UY'&MZ@9J>RCD2_-)Y^>R.=TE(5JNIE<S!U$VC-
M)\_E7A4C'(V32!/U(RRP;-W=KNR^&LBIQ0DM1$P#($`^$5G:\*MLWEKH'(I8
MS"G5;6UI!4*F125=]:&<,P<4^,66^./C"Y)<5^3S=G>XJ@1W)FCXT^CJEFD;
M;@F<J:TQ1F,`W=J"Z;E&6GGS",8.`259`@B@4H$33,)Q=W2<3Q]U654D(#:D
M[J;=")DZ#Q)TUB[F+)YCBZ\;EE!;K;);W=%$)V[I>.M85.XSXXG*WQLGUKE'
M2,5/6FPS+]:OSC)=C,0`0C&.JBA)&-=I(NHZ4DGL&LY5(H0IP362$0[ZCB/E
M>?MLA[AH;MPA5LTPB2DR*%*)F=I'E40#61[SC,O(+5C'M^@L(6ZD23,`D>"1
MT^4,@_MMLKA8^*N=<).G`J26!.2%M39MS'W"VJ>5XR+R!#@4@]R(FL+F9`H@
M`%$2#IW`>MM\7N4W&'9");4H3II%Y^U-Z+KBJ$3F6W"")U'@>WPABSHABRH\
M3@)B&*'Q$H@&F@#J(:=A$!#7IQ0@PID5&HA8G+_AGOO(;RRYUS':Y)S0>(%R
M@\77NSO()\@UN&5K^K7$H"S8]K"R"GN:U%HJU@CJ8EC%!<$GR2#35911=N+7
MW%,9DLF+V]2%-BH!_5W^R*8O/:S]PY]<<C>63BGMI4F8J1*LIZBO3QKI`E9T
MFD?$[S+N>;_'5$I67CRA!QM3Y18$=+2#O'-:>1S]1<4*?*-S24ZWA*TZ=*N%
M7Z";H:I(NG1-CJ.7=-FE=W/N;Q;#<L<XQ9+1]33<F1":4`"M-/'6D=]_EF.+
MY-U6!&^U&W>G03J)">LAU^48G-//[PK<E+,US_R%XC9W@,YM58B?D`QQ:&<*
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M0BBX)EW(I(E$3%*0PY95AO\`K5\BW4YZP;7)M0K3K\-8HODUO;LN^FF3CB5`
M[_@9F4;-_;SY5_0/D*Y28.=NP:QN:L'0U^B&P@*:3JT8;MYV+HR2(FT4<'K6
M2EC&$`W>FT^&@:ANKVZO/5P;:5FNT2@@]B,BIP92R=/F2\'$CNE14)_=I#I>
M\O\`@.K&C0\_X1R(Z`(_'0/ATQ,A.$9RI4P`/D7Y.GXV8#6=0+U..R)E">9X
MRQ\\]0I7$=)S+1Z[F;"W)M,)U*Y763E=(?@#D4=>P]`'N9R-[C'%;B\MZ7"D
M%*3V)!K\I0*\QSB<%BBO_P"SI"$F<I%0-=*RE]XB""JL&4?!M634!7161'W'
MKAZRCD[G<+HSTZHJG=G=J*&%05-PG,81-J(CU^2V3RV0NL@O(J?5^[/.*(42
M1,`]/MBF&GRM@>N2M9))/ZIQ@8['&,:2JX>57'-#K4L_6.;W4!3:_&R+MVJ<
M1,!7#".1=G54-\"E'N/RZD49?F&>6BPMUW=Z)`*:84I:D>--9ZRC[)6I2/0Q
MC8+J:FFDZU,8&9Q=,Y4L\128NM6:3NDJ91")BHW;%SLB!$U7JB2'U)-,2-@1
M244$QC%```1#Y]'7#N)<UN\P>.X^S-O=N#<@7"5-%?52@5&JDZD=2.D<-MB,
ME?WXM5)6'E5!!D)])CM./;2^$>1[9ER=X[J-(/#\_78=K:+7*7UV[78-V\\_
MAXF(=KRS$\HK89.PR,NW;LSE<'(LH7TBG+L`H7/PGVMY?FLV_:<C4+5=LH!*
MEI*@YT!`!$N\JQ,V/$,E=WSMEE5!E:?*"1NW;J`BH[SE.L1]8(4F.$WF\XV1
M]C?H;X7D!9N-]NDB%4:,Y*-RE$S..6;XJ!Q.=%F^G)6,>I%.)A`"$U_$&H:<
MX$VJQ?N,4XJ:[5P-FA$Q7S#P/;[X`O;Q;G%?=*YXX\YN*E^G,32#(DSE,TJ:
M3CL#]%/X?E^7\_P^[JW:1K^F[PW_`.W;%T(:@(?:&GW]>")B4(&1G$*WG=I!
MW_"1/*;)L=1_@?+N.+^HY+M%1M`2TDKC^PF#MV2!O;DE%->VU'^'07[A889W
MC-PP4[EH05`=-)?C%.^^%L^OACF5MB?J;1U#G].T3"ICYCK`0<7E\-VO`M5M
MX6_`TEDA[+2J-O@<\Y$LM-C:?!,Q1+`*P,#6E&#BQN9=/>LLY544(EN*F0H:
M&ZS1BN&<4QN$M[A3.%.567$N?N"U`@DC;Z(2G0S.Z9-91#\-R.#R?'K5VS6V
M;YQL%8<J`J7\HI('M,P8-6Q'-57'6?9ZD)T=_G"9K=:N&(BXOF7=I03Q#,.R
M#,2>*G$F'UPSQZ#1XAZA0,]`$D4BJ?U"B::Q?MXOCG'<DKB[MA:<UN5I4RY:
M**DAI1!44%0W$@;JR\LNL';>/%M9.I264Y1Y-=HT1612-092G7N8L[%DPV*.
M/''W*><+`XLUSC.1E)4Q7;;'7K!5[]'4L9)JC>X6[)6=BWDF*,=!FDB"+A99
M)TB*"A#G`"F*862%8'CF$=Y2ZK)9EB]6$W"JNI0HD+4M0`GM!GH!,3D91Z;N
M&,+8MW5X4KN-R4)4!4`@`DZZ"1F>M0-8`'D9SZA:Q%94P]!2L';96I9YJ+W%
M^:X)_'R)IK!-7ORN4HZB/[$F8YW[6MV-!HDST.HF9$QR"("EJ8=O.?7K>[%J
M07<H,B2AYL$(-JA6Y&[NI4AYJ3[0#YWW%QN,?7:^H%^B^@AV6_RI7,@R(G/I
MVB"/RO<EJ7R+YL0N5.+<5:'%VN61\/R=$J+EFS"US&8825K#6-1AHR(D),7`
MRE@A&ZJ0;O4T.<QR@`"/5PX*Y8O+YV^9;4@OI0I1/\R]#\NLHI>VR+7*??!.
M<XVQ<.6<D*6LI(2%2D3\*?&9%9QV/GOKAKI]#C]/TQ[_`/[(G_KMFOT+_@[N
MWN?AU8=8VWN$_'X]9:?9'V72AX&3F?A5?D9Q/Y#8,9)(*RV3\2W6JU\'*A$6
MZ=H>PCH]47664T(@FA9$6IQ4$0!/;NU[=<]T`IA2%"84"):ZQ!<GQ*<[QV]Q
M"I'U[=:0#U41Y?OE"$G&;G3G;C,E9>,EFX4N,D9=A+*0LI3<@\:[QD?(]5L<
M8S)$"A#1L>S%8T6N9(5`,1-=FZ_"J50Y#`/527&`NF"MNU9LR7%3'JLAS:1^
MB8.W6O<QCOC6*]TN%H5@;7%6MRV'#Z;SB05I2"9`*/\`#[H/YI1O,WRWM;3(
M$5Q!R=1)-",9Q$'9LJ3M0XWPE7K[0A@C(NO5IQ*1MIA(-FD81*@SBC"(FU,!
MC&U&!=]N.49C*?O-U>E-WM"4ELEM*4I&T!*1*0EK(5BQK?BGNMR!\7.66+5:
M@!Y%[2`-)`:4@Q,>^';RB7EC.,\S\XL>X;KU[3;_`*WK>/VE]SO-3!6Y!3:A
M*/;LZH5>/(LTCB5%R0JYT0-H0^GX1+,?[9%AGT+R[==;*2"E2B0-PDJA[S,X
M,[/VXY&MGZ?+Y97TYH4IG,C2I)U\8)''/[<#B)%>V<YNS'R3S[($,0SIF^O#
M'%U4=;>YTQAL:Q4-/%;G``#:>74$`^8_(CL.`X&P:V);2M4@)D#0:#0T':)_
M'^U_%K*B]SSIU*JS^,P8DYX[>-+@=Q7G6=LP5Q9Q'2+M&D5(PO\`^GALN0F8
M+I^BNHWO=P<3]L;+N$1$JATWA#'*80'L(@)+:V5M:(#+3:$I3I(0:X_#8?%I
M"<<PTVH=4I`/V@0=&PGY2_<'7=,Q*2&OC/Y]X\NFA172A1C`W?4E?[.GM4_Y
G/3][_</KZFOXO:_ET_W:Z=+I#].L9/I0T5TH45TH45TH45TH4?_9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
