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 - Analyst : Maybe I do want to start a little bit about -- speak about tariffs. So there's this conversation that US is going to put tariffs on copper. Can you talk about how you think this is going to impact the copper market? And how specifically Freeport is prepared for this?

Question: Katja Jancic - BMO Capital Markets - Analyst : Maybe shifting gears a little bit to Indonesia. You are in discussions with the Indonesian government to get the export license extended. What's the current status of that?

Question: Katja Jancic - BMO Capital Markets - Analyst : There were some reports that the Grasberg operations are currently operating at lower utilization rates. Is that true? And how will that impact just overall annual production there?

Question: Katja Jancic - BMO Capital Markets - Analyst : If there are any delays in getting the export license post Q1, how will that impact the operations at the Grasberg? 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 - Analyst : You mentioned the smelter repairs are progressing well. What are some of the major concerns when you get to the point where you're restarting the smelter?

Question: Katja Jancic - BMO Capital Markets - Analyst : We have a question from the app. Can can you discuss the gold price and the benefit of production cost on earnings generation in Indonesia?

Question: Katja Jancic - BMO Capital Markets - Analyst : Are you optimistic on copper price as a result of power demand creation from AI? 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 - Analyst : So leaching is included in your expectations for costs in North America over the next three years to decline.

Question: Katja Jancic - BMO Capital Markets - Analyst : M&A is topical in the copper space, but to your point, you have a lot of organic opportunities to grow, but what would make you more excited about potential acquisitions? 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 - Analyst : We're getting towards the end of our time, but maybe one last question, Kathleen, what are you most excited about this year and is there anything you're concerned about?

Question: Katja Jancic - BMO Capital Markets - Analyst : Thank you so much.