Ms. Bonita To reports

FIRST QUANTUM MINERALS ANNOUNCES EARLY RESULTS OF CASH TENDER OFFER TO PURCHASE ITS OUTSTANDING 9.375% SENIOR SECURED SECOND LIEN NOTES DUE 2029 IN A MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF UP TO $250 MILLION

First Quantum Minerals Ltd. has released the early results of its previously announced offer to purchase for cash its outstanding 9.375 per cent senior secured second lien notes due 2029 in a maximum aggregate principal amount of up to $250-million, as further described in the offer to purchase dated Aug. 6, 2025, and as previously announced on Aug. 6, 2025 (in U.S. dollars, except where noted otherwise).

As of 5 p.m. New York time on Aug. 19, 2025, according to information provided by Kroll Issuer Services Ltd., the tender and information agent for the tender offer, the aggregate principal amount of notes listed in the attached table has been validly tendered and not validly withdrawn in the tender offer. Withdrawal rights for the notes expired at the early tender time.

The company has elected to exercise its right to make payment for notes that were validly tendered on or prior to the early tender time, and that are accepted for purchase, on Aug. 21, 2025. All conditions for such payment on the early settlement date were satisfied or waived by the company. The settlement date for all notes validly tendered and not validly withdrawn prior to the early tender time and accepted for purchase is expected to be on the early settlement date.

As the aggregate principal amount of the notes validly tendered and not validly withdrawn on or prior to the early tender time exceeded the maximum tender amount, and although the tender offer will expire at 5 p.m. New York time on Sept. 3, 2025, the company will accept for purchase the notes on a prorated basis and will not accept for purchase any notes validly tendered after the early tender time.

Under the terms of the tender offer, holders who validly tendered and did not validly withdraw their notes at or prior to early tender time were eligible to receive the total consideration of $1,066.25 per $1,000 principal amount of notes, consisting of an early tender premium equal to the tender consideration of $1,016.25 per $1,000 principal amount of notes plus $50 per $1,000 principal amount of notes, plus accrued and unpaid interest. Notes purchased in the tender offer will be cancelled. Full details of the terms and conditions of the tender offer are included in the company's offer to purchase and in the company's previous announcements with respect to the tender offer.

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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