Realized lithium price rose nearly 14% quarter-over-quarter to $10 per kilogram in Q4 2025, driven by stronger energy storage demand and supply disruptions. Record sales volumes exceeded 66,000 tonnes at Nova Andino Litio, reflecting a more than 50% year-over-year increase following multi-year expansion efforts.

Management targets over 15% higher lithium sales volumes in Q1 2026 compared with Q1 2025, aiming for a first-quarter record. SQM plans to allocate approximately 260,000 tonnes of additional production capacity this year, maintaining full operational output and supporting market growth.

Full-year 2025 revenues reached $44.6 billion with net income of $588 million, propelled by strong operational execution and a diversified portfolio. The launch of Nova Andino Litio through an association agreement with Codelco underpins long-term Atacama production and dictates dividend allocations based on a 33.5 thousand tonne lithium volume share to Codelco.

Iodine contributed about 42% of gross margin in 2025 with record prices from tight supply and robust demand, particularly in X-ray contrast media. Expansion projects include a seawater pipeline in Tarapacá to boost capacity beyond 17,000 tonnes annually, with stable to slightly up sales volumes anticipated in 2026.