Ms. Bonita To reports

FIRST QUANTUM MINERALS ANNOUNCES PRICING OF $1,600 MILLION SENIOR SECURED SECOND LIEN NOTES OFFERING

First Quantum Minerals Ltd. has completed the pricing of its offering of $1.6-billion aggregate principal amount of 9.375 per cent senior secured second-lien notes due 2029. The issue price of the notes is 100.000 per cent. (Dollar amounts are in U.S. dollars, except where noted otherwise.)

Interest on the notes will accrue from the issue date at a rate of 9.375 per cent per annum and will be payable semi-annually. Settlement is expected to take place on or about Feb. 29, 2024, subject to customary conditions precedent for similar transactions. The notes will be senior obligations of the company and will rank equally in right of payment with all of the company's existing and future senior debt and senior in right of payment to all of the company's existing and future subordinated debt. The notes will be guaranteed, jointly and severally, on a senior basis by the guarantors described in the offering memorandum for the offering. The guarantees will rank equally in right of payment to all existing and future senior debt of the guarantors. The obligations of the company under the notes and the guarantors under the guarantees will be secured on a second-priority basis by a lien on all of the company's and the guarantors' assets that secure the company's and the guarantors' obligations under certain of the company's credit facilities as described in the offering memorandum relating to the offering.

The company intends to apply the net proceeds from the offering toward the redemption of all of its outstanding senior notes due 2025 and 2026.

We seek Safe Harbor.