Freeport-McMoRan (FCX) Proxy filing summary

Executive summary

• Achieved strong 2025 performance despite global trade challenges and a tragic incident at Grasberg, with progress in technology, safety, and sustainability initiatives.

• Advanced innovation with autonomous haul trucks, remote operating centers, and leach technology, positioning for long-term growth.

• Maintained robust financials: $5.6B operating cash flow, $2.3B net debt, and $5.7B returned to stockholders since mid-2021.

• Entered a Memorandum of Understanding with the Indonesian government for a life-of-resource extension at Grasberg, reinforcing long-term stability.

Voting matters and shareholder proposals

• Election of eleven directors, advisory vote on executive compensation, and ratification of Ernst & Young LLP as independent auditor for 2026.

• Board recommends voting FOR all proposals.

• Proxy access and majority voting for directors in uncontested elections; shareholders can call special meetings and act by written consent.

Board of directors and corporate governance

• Board to be reduced from 12 to 11 members after 2026 meeting; 10 of 12 current directors are independent.

• Diverse board with broad expertise in mining, finance, sustainability, and governance; 45% women, 18% racially/ethnically diverse.

• Separate CEO and chairman roles; lead independent director appointed annually.

• Four fully independent standing committees: audit, compensation, governance, and corporate responsibility.

• Annual board and committee evaluations, director stock ownership guidelines, and limits on outside board service.