Freeport-McMoRan Inc at BMO Capital Markets Global Metals Mining & Critical Minerals Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Katja Jancic - BMO Capital Markets Equity Research - Analyst : And I want to kick it off, Richard, after 20 years at the helm of Freeport, you decided to transition the CEO role to Kathleen. Can you talk a bit about the decision to do this now?

Question: Katja Jancic - BMO Capital Markets Equity Research - Analyst : Age is just a number, Richard.

Question: Katja Jancic - BMO Capital Markets Equity Research - Analyst : Kathleen, as Richard said, you've been with Freeport for 35 years. You were close with Richard over this time. Do you envision any strategic changes moving forward?

Question: Katja Jancic - BMO Capital Markets Equity Research - Analyst : We'll take one question from the app. What do you think about Gary's quote about not being early to the party when it comes to growth projects?

Question: Katja Jancic - BMO Capital Markets Equity Research - Analyst : Early to the party.

Question: Katja Jancic - BMO Capital Markets Equity Research - Analyst : When you do look at the projects, obviously, you're looking for higher copper price. But what are -- can you talk a bit more about what are the other areas or factors that you consider before you make a final decision? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Katja Jancic - BMO Capital Markets Equity Research - Analyst : Maybe staying a bit on the Kucing Liar. So you're spending about $400 million per year for the project over the next 10 years. Given that we're seeing inflationary pressures across the board, is there a risk to CapEx? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Katja Jancic - BMO Capital Markets Equity Research - Analyst : And then regarding the mining rights extension in Indonesia, how is that progressing? Do you have a time line by when you want to get it done? And is the presidential election impacting that?

Question: Katja Jancic - BMO Capital Markets Equity Research - Analyst : And then I think last year, there were some reportings that the government is looking for an incremental 10% share. How do you think about that? And how that would impact the shareholders? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Katja Jancic - BMO Capital Markets Equity Research - Analyst : And we have a question from the app. What is the most important lesson that you have learned over the last 35 years that you would be willing to share for all the people in the room who are younger than the next President of the U.S.?

Question: Katja Jancic - BMO Capital Markets Equity Research - Analyst : Well, Richard, Kathleen, thank you so much. Unfortunately, we ran out of time.

Question: Katja Jancic - BMO Capital Markets Equity Research - Analyst : Thank you.