Grasberg Project and Financial Update
Financial Policy
T
WAAN
>>> Policy aligned with strategic objectives of maintaining a strong balance sheet
and increasing cash returns to shareholders while advancing opportunities for
future growth
>>> Annual base dividend of $0.30/share, paid quarterly
>>> Performance-Based Payout Policy
FREEPORT
FOREMOST IN COPPER
Organic
Growth
Balance
Sheet Strength
%
Up to 50% of Free Cash Flow* for shareholder returns
>>> With achievement of net debt target ($3 - $4 bn), expect Board to determine
additional cash returns to shareholders following reporting of 2021 annual
results
> Determine at least annually taking into account market conditions, operational/financial outlook,
future investments, etc.
* Available cash flows generated after planned capital spending (excluding smelter debt) and distributions to noncontrolling interests.
See Cautionary Statement.
$
Up to 50% for
Cash Returns to
Shareholders
22
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