Freeport-McMoRan Publishes 2022 Annual Report on Sustainability

PHOENIX--(BUSINESS WIRE)-- Freeport-McMoRan Inc. (NYSE: FCX) today announced the publication of its 2022 Annual Report on Sustainability detailing its environmental, social and governance (ESG) performance during the year. This report marks FCX’s 22^nd year of reporting on its sustainability progress. FCX has a long history of robust ESG programs and strives to embrace evolving stakeholder expectations and best practices.

Richard C. Adkerson, Chairman of the Board and Chief Executive Officer said: “As global decarbonization accelerates, demand for copper is expected to increase. We are committed to meeting the growing demand for copper through our sustainability strategy: Accelerate the Future, Responsibly. Our strategy recognizes the vital role we play in global progress – including decarbonization – and our dedication to continuously advance responsible production of our products. I am proud of our Freeport team for their accomplishments during 2022 and ongoing dedication to delivering on our sustainability strategy in alignment with our business objective of being Foremost in Copper.”

FCX's 2022 Annual Report on Sustainability was prepared in alignment with the International Financial Reporting Standards Foundation's SASB Standards for the Metals & Mining industry as well as in reference to the GRI Sustainability Report Standards (2021) and the G4 Mining and Metals Sector Supplement and reflects FCX’s reporting obligations as a founding member of the International Council on Mining and Metals. FCX’s 2022 Annual Report on Sustainability is available on the company website at www.fcx.com/sustainability.

FREEPORT: Foremost in Copper

FCX is a leading international mining company with headquarters in Phoenix, Arizona. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one of the world’s largest publicly traded copper producers.

FCX’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; and significant mining operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru.

By supplying responsibly produced copper, FCX is proud to be a positive contributor to the world well beyond its operational boundaries. Additional information about FCX is available on FCX's website at fcx.com.

Cautionary Statement: This press release contains forward-looking statements regarding FCX’s potential future performance. Forward-looking statements are all statements other than statements of historical facts, such as plans, projections, expectations, targets, objectives, strategies or goals relating to environmental, social, safety and governance performance, including expectations regarding execution of FCX’s energy and climate strategies, and the underlying assumptions and estimated impacts on its business related thereto; FCX’s approach to lower carbon and reduced emissions; FCX’s plans and expectations in relation to its future clean energy transition, including targeted reductions of greenhouse gas emissions, implementation of technologies and emissions reduction projects, achievement of its 2030 climate targets and its 2050 net zero aspiration; FCX’s operational resiliency and climate scenarios; FCX’s expectations regarding climate-related risks and future risk mitigation; FCX’s continuing commitment to safe and reliable operations; FCX’s commitment to human rights and creating a diverse and inclusive workplace; and FCX’s commitment to deliver responsibly produced copper and molybdenum, including plans to implement, validate and maintain validation of its operating sites under specific frameworks. The words “anticipates,” “may,” “can,” “commitments,” “plans,” “pursues,” “believes,” “estimates,” "expects," "endeavors," “initiatives,” "seeks," "goal," "predicts," "strategy," “objective,” “projects,” “targets,” "intends," "aspires," “likely,” “will,” “should,” “could,” “to be,” ”potential,” “opportunities,” “assumptions,” “guidance,” “forecasts,” “future” and any similar expressions are intended to identify those assertions as forward-looking statements.

FCX cautions readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, expected, projected or assumed in the forward-looking statements. Important factors that can cause FCX’s actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, the factors described under the heading “Risk Factors” in FCX’s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the U.S. Securities and Exchange Commission.

Investors are cautioned that many of the assumptions upon which FCX's forward-looking statements are based are likely to change after the date the forward-looking statements are made. Further, FCX may make changes to its business plans that could affect its results. FCX cautions investors that it undertakes no obligation to update any forward-looking statements, which speak only as of the date made, notwithstanding any changes in its assumptions, changes in business plans, actual experience or other changes.

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Financial Contact:

David P. Joint

(504) 582-4203

Media Contact:

Linda S. Hayes

(602) 366-7824

Source: Freeport-McMoRan Inc.