Freeport-McMoRan says targeting restart of GBC PB 1S, PB 1C in 2027

Says team ‘demonstrated resilience in overcoming challenges’. Says ‘strongly-positioned as experienced global leader’. Says finished the year ‘strong’. Says Grasberg incident ‘was humbling’ but team ‘has risen to challenge’. Says has ‘robust profile of organic growth opportunities’. Says restarted operations from unaffected Deep MLZ and Big Gossan mines in late October. Says U.S. copper mining operating income improved 3.5x vs. 4Q24. Says working to increase volumes in U.S. Says targeting 8% increase in the U.S. in 2026. Sees similar amount of sales for South America in 2026 compared to 2025. Says ‘a lot of activity’ at El Abra, heat trials expected in 2026. Says made ‘great progress’ in restoring operations at Grasberg Block Cave in Indonesia. Says expects to have 85% of production restored in the district in 2H26.