7.1

Investments in associates recognized according to the equity method of accounting

	Equity-accounted investees						Share in profit (loss) of associates accounted for using the equity method								Share in other comprehensive income of associates accounted for using the equity method								Share in total comprehensive income of associates accounted for using the equity method
Associate	As of December 31, 2021		As of December 31, 2020		As of December 31, 2019		Fort the year ended December 31, 2021		Fort the year ended December 31, 2020			Fort the year ended December 31, 2019			Fort the year ended December 31, 2021		Fort the year ended December 31, 2020			Fort the year ended December 31, 2019			Fort the year ended December 31, 2021		Fort the year ended December 31, 2020			Fort the year ended December 31, 2019
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$			ThUS$			ThUS$		ThUS$			ThUS$			ThUS$		ThUS$			ThUS$
Abu Dhabi Fertilizer Industries WWL		-		11,505		11,609		-		(156	)		634			-		-			1			-		(156	)		635
Doktor Tarsa Tarim Sanayi AS (*)		-		-		26,001		-		4,031			3,912			-		-			198			-		4,031			4,110
Ajay North America		15,899		14,468		14,669		2,802		2,191			2,871			-		-			-			2,802		2,191			2,871
Ajay Europe SARL		8,213		7,875		7,451		1,852		1,029			1,165			360		756			(179	)		2,212		1,785			986
SQM Eastmed Turkey (*)		-		-		623		-		247			354			-		-			(42	)		-		247			312
Kore Potash PLC (**)		-		26,175		24,739		-		(224	)		(534	)		-		(374	)		(549	)		-		(598	)		(1,083	)
Total		24,112		60,023		85,092		4,654		7,118			8,402			360		382			(571	)		5,014		7,500			7,831

(*) These investments were disposed of in 2020

(**) For more details, see Note 7.3 (a).

							Dividends received for the year ending
Associate	Description of the nature of the relationship	Address	Country of incorporation	Share of ownership in associates			December 31, 2021		December 31, 2020		December 31, 2019
							ThUS$		ThUS$		ThUS$
Abu Dhabi Fertilizer Industries WWL	Distribution and commercialization of specialty plant nutrients in the Middle East.	PO Box 71871, Abu Dhabi	United Arab Emirates		37	%		9,438		-		-
Ajay North America	Production and distribution of iodine and iodine derivatives.	1400 Industry RD Power Springs GA 30129	United States of North America		49	%		1,233		1,967		2,796
Ajay Europe SARL	Production and distribution of iodine and iodine derivatives.	Z.I. du Grand Verger BP 227 53602 Evron Cedex	France		50	%		992		1,197		1,055
Kore Potash Ltd	Prospecting, exploration and mining development	L 3 88 William ST Perth, was 6000	United Kingdom		14.65	%		-		-		-
Doktor Tarsa Tarim Sanayi AS	Distribution and commercialization of specialty plant nutrients in the Turkey.	Organize Sanayi Bolgesi, Ikinci Kisim, 22 cadde TR07100 Antalya	Turkey		50	%
SQM Eastmed Turkey	Production and trading of specialty products.	Organize Sanayi Bolgesi, Ikinci Kisim, 22 cadde TR07100 Antalya	Turkey		50	%		-		-		-
Total								11,663		3,164		3,851

7.2	Assets, liabilities, revenue and expenses of associates

	As of December 31, 2021								For the year ended as of December 31, 2021
	Assets				Liabilities								Other
Associate	Current		Non-current		Current		Non-current		Revenue		Net gain (loss)		comprehensive income			Comprehensive income
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$			ThUS$
Ajay North America		21,771		15,096		4,421		-		47,375		5,718		-			5,718
Ajay Europe SARL		25,927		1,241		10,742		-		48,409		3,705		(34	)		3,671
Total		47,698		16,337		15,163		-		95,784		9,423		(34	)		9,389

	As of December 31, 2020								For the year ended as of December 31, 2020
	Assets				Liabilities									Other
Associate	Current		Non-current		Current		Non-current		Revenue		Net gain (loss)			comprehensive income		Comprehensive income
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$			ThUS$		ThUS$
Abu Dhabi Fertilizer Industries WWL		29,313		8,586		6,706		101		6,641		(420	)		-		(420	)
Ajay North America		18,513		15,749		4,737		-		42,920		4,471			-		4,471
Ajay Europe SARL		22,032		1,493		7,773		-		41,950		2,058			1,736		3,794
Kore Potash PLC		5,691		124,112		786		-		-		(3,233	)		486		(2,747	)
Total		75,549		149,940		20,002		101		91,511		2,876			2,222		5,098

	As of December 31, 2019								For the year ended as of December 31, 2019
	Assets				Liabilities									Other
Associate	Current		Non-current		Current		Non-current		Revenue		Net gain (loss)			comprehensive income			Comprehensive income
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$			ThUS$			ThUS$
Abu Dhabi Fertilizer Industries WWL		28,543		9,971		7,133		-		31,588		1,713			4			1,717
Doktor Tarsa Tarim Sanayi AS		97,797		15,196		22,420		38,522		93,768		7,824			396			8,220
Ajay North America		19,748		13,250		3,061		-		38,833		5,860			-			5,860
Ajay Europe SARL		19,589		1,456		6,144		-		35,709		2,329			(358	)		1,971
SQM Eastmed Turkey		2,718		1,833		2,600		704		3,086		709			(84	)		625
Kore Potash PLC		7,938		119,362		2,214		-		-		(2,716	)		(2,791	)		(5,507	)
Total		176,333		161,068		43,572		39,226		202,984		15,719			(2,833	)		12,886

7.3

Disclosures regarding interests in associates

(a)

Transactions for the year ended December 31, 2021

During the first quarter 2021, Kore Potash PLC made a share payment to its non-executive board members (remuneration shares) plus certain employees and former employees (performance shares) which resulted in a 0.05% share reduction for the company, leaving it with 20.15%. During the second quarter of 2021, Kore Potash PLC approved a capital stock increase of ThUS$ 13,931 through the issuance of common shares, which resulted in a dilution of 5.5% of SQM shares in the company, with an impact of ThUS$ (5,778) on other losses. As a result of the dilution, the Company considers that there has been a loss of significant influence on the investment, discontinued the measurement through the equity method, and recognized an amount of ThUS$ 3,739 under other gains (losses) as items in other comprehensive income associated with this investment. See Note 12.1 for more details.

As of December 31, 2021, the Company has received dividends from Abu Dhabi Fertilizer Industries WWL of ThUS$ 9,438

and r

ecognized

dividends receivable

amounting

ThUS$ 2,099.

On June 30, 2021, the Company made an assessment of the recovery of the investment in Abu Dhabi Fertilizer Industries WWL and recognized an impairment of ThUS$ 2,800

in other losses. This impairment was reversed during the second half of the year due to the recoverable amount of the investment subsequently increased.

(b)

Transactions for the year ended December 31, 2020

Kore Potash PLC made a share payment to its non-executive board members, which resulted in a 0.60% share reduction for the company, finalizing with a share percentage of 19.07% at the close of the second quarter of 2020. This resulted in a transfer in equity of non-controlling interest to other reserves in an amount of ThUS$ 754.

In the third quarter of 2020 SQM S.A. increased its shares in Kore Potash PLC to 20.26% as a result of the acquisition of 260,598,591 shares out of 584,753,846 shares issued for a capital increase corresponding to ThUS$ 1,679.

In the third quarter of 2020, shares held in Doktor Tarsa Tarim and its subsidiaries were sold through Soquimich European Holdings B.V. at a value of ThUS$ 33,066, which brought about a loss of ThUS$ 11,408.

In the third quarter of 2020, shares held in SQM Eastmed Turkey were sold through Soquimich European Holdings B.V. at a value of ThUS$ 618, which brought about a loss of ThUS$ 408.

During the fourth quarter of 2020, SQM Holland

(subsidiary)

acquired the business of WSNPK from Plantacote

N.V. (subsidiary of Doktor Tarsa Tarim Sanayi AS)

for ThUS$ 16,757, which generated goodwill of ThUS$ 7,380.

See Note 14.

During the fourth quarter of 2020, Kore Potash PLC made a share-based payment to its non-executive board members, which resulted in a 0.06% share reduction for the company, finalizing with a share percentage of 20.20%. This resulted in a decrease in consolidated equity of non-controlling interests in other reserves of ThUS$ 79.

(c)

Transactions for the year ended December 31, 2019

SQM S.A. increased the capital of Kore Potash Ltd by ThUS$ 2,600 in July 2019, which increased its interest to 19.67% of the shareholder’s investment.

	·	On December 11, 2019, Doktor Tarsa Tarim Sanayi AS acquired 100% of the shares in Doctochem Tarim Sanayi Ticaret LTD.