Ms. Bonita To reports

FIRST QUANTUM MINERALS ANNOUNCES RESULTS OF CASH TENDER OFFER TO PURCHASE ANY AND ALL OF ITS OUTSTANDING 6.875% SENIOR NOTES DUE 2027

First Quantum Minerals Ltd. has released the results of its previously announced offer to purchase for cash any and all of its outstanding 6.875 per cent senior notes due 2027 from holders of the notes, as further described in the offer to purchase and the related notice of guaranteed delivery, each dated Aug. 6, 2025, and as previously announced on Aug. 6, 2025. (All dollar amounts are in U.S. dollars, except where noted otherwise.)

As announced on Aug. 6, following the upsizing and pricing of the new notes, the company announced that it extended the price determination date, the expiration date, the guaranteed delivery date and the settlement date in respect of the tender offer. Following such extension, the tender offer expired at 5 p.m. New York time on Aug. 18, 2025. The deadline for delivery of notes tendered according to the guaranteed delivery procedures, as described in the offer to purchase, is 5 p.m. New York time on Aug. 20, 2025. The tender offer was made upon the terms and conditions set out in the offer to purchase and the related notice of guaranteed delivery.

The company announces that $714,625,000 aggregate principal amount of the notes were validly tendered and not withdrawn at or prior to the expiration date, and will be accepted for purchase by the company. This amount includes $6,503,000 aggregate principal amount of notes tendered pursuant to the guaranteed delivery procedures described in the offer to purchase, the purchase of which by the company remains subject to the holders' performance of the delivery requirements under such procedures.

The consideration for the notes will be $1,003.79 for each $1,000 principal amount of notes validly tendered prior to the expiration date and accepted for purchase pursuant to the tender offer. This was determined in the manner described in the offer to purchase by reference to the fixed spread specified in the offer to purchase plus the reference yield of 4.263 per cent, which was based on the bid-side price of the reference security as quoted on the reference page at 2 p.m. New York time on the price determination date of Aug. 18, 2025.

Subject to satisfaction or waiver by the company of the financing conditions for the tender offer, the company will pay the applicable consideration with respect to notes accepted for purchase promptly after the expiration date, which is expected to be Aug. 21, 2025. In addition, holders who validly tender and do not validly withdraw their notes in the tender offer will be paid a cash amount equal to accrued and unpaid interest from the last interest payment date up to, but not including, the settlement date. Notes purchased in the tender offer will be cancelled.

Copies of documents relating to the tender offer may be obtained from Kroll Issuer Services Ltd., the tender and information agent, by telephone at 44-20-7704-0880 or by e-mail at fqml@is.kroll.com.

The company has engaged J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, BMO Capital Markets Corp., and Societe Generale to serve as dealer managers for the tender offer. Questions regarding the tender offer should be directed to dealer managers using the following contact information, as applicable:

• J.P. Morgan Securities, by telephone at 1-866-834-4666 (toll-free in the United States) or 1-212-834-7489 (U.S. collect);
• Goldman Sachs, by telephone at 1-212-357-1452 (U.S. collect), 1-800-828-3182 (toll-free) or 44-207-774-4836 (Europe);
• BMO Capital Markets, by telephone at 1-833-418-0762 (U.S. toll-free) or 1-212-702-1840 (U.S. collect);
• Societe Generale, by telephone at 33-0-1-42-13-32-4 or 1-855-881-2108 (U.S. toll-free).

For further information, visit the company's website.

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