Electrifying the Future

ELECTRIFYING THE FUTURE Consolidated Capital Expenditures Excluding Indonesia Smelter Projects CAPEX (1) ($ in bns) Net of Scheduled Contributions FREEPORT FOREMOST IN COPPER $1.9 Major Projects $1.3 Other $0.6 2021 $3.2 Planned $1.3(3) -$3.0 (2) $3.0 Planned $0.9(3) Discretionary - $1.7 (2) Discretionary $0.6 $1.3 2022e $0.9 $1.2 2023e (1) See slide 14; Indonesia smelter projects to be funded with proceeds from PT-FI's April 2022 notes offering and PT-FI bank facilities. (2) Net of scheduled contributions from PT Inalum for expansion capital spending that will be reflected in financing on the cash flow statement. (3) Major projects include CAPEX associated with Grasberg underground development and supporting mill and power capital costs ($1.2 bn in 2022e and $0.7 bn in 2023e). For detail of discretionary spending see slide 27. NOTE: Amounts include capitalized interest. Discretionary CAPEX and smelter spending will be excluded from the free cash flow calculation for purposes of the performance- based payout framework. e= estimate. See Cautionary Statement. 13

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