First Quantum Minerals (FM) Conference presentation summary

Revenue and production overview

• Copper represents 82% of 2025 revenue, with gold at 10%, nickel at 5%, and other commodities at 3%.

• 2026 copper production guidance is 405-475kt, with gold at 150-175koz and consolidated copper C1 cash cost of $2.15-$2.40/lb.

Asset portfolio and operations

• Major assets include Kansanshi and Sentinel in Zambia, Cobre Panamá in Panama, and greenfield projects Taca Taca (Argentina) and La Granja (Peru).

• Cobre Panamá is the third largest copper mine globally by throughput, currently under Preservation & Safe Management since November 2023.

• Kansanshi and Sentinel are top global copper complexes with significant processing capacities and long mine lives.

Project pipeline and growth

• Taca Taca and La Granja are among the world’s largest undeveloped copper projects, offering substantial future growth.

• Taca Taca targets ESIA approval and water permits in 2026, with a 35-year mine life and average annual copper production of 209kt.

• La Granja, in partnership with Rio Tinto, is advancing permitting and stakeholder engagement, with significant measured and indicated resources.