Grasberg Project and Financial Update

Compelling Investment Case For Copper & Freeport Rising Demand + >>> Global economic recovery and infrastructure development >>> New demand drivers for clean energy Supply Scarcity >>> Historically low inventories > LME recently hit 47-year low › Shanghai lowest since 2009 >>> Geology >>> Permitting - longer lead times >>> Pipeline is thin > Project approval rate has been slow in recent years FREEPORT FOREMOST IN COPPER Structural Deficits FREEPORT FOREMOST IN COPPER >>> Responsible producer of scale >>> Strong cash flows & balance sheet >>> Embedded growth options >>> Long-lived reserves Attractive capital allocation framework See Cautionary Statement.

View entire presentation