Grasberg Project and Financial Update
>>> Prioritizing health and safety
3Q21 Highlights
Strong Execution - Continuing our Momentum
› Significant increase in COVID vaccination rates
FREEPORT
FOREMOST IN COPPER
Copper
Sales (1)
Growing
3Q21
(million lbs)
3Q20
848
>>> Strong financial results and cash flow generation
› Reduced net debt by $5.6 billion since 9/30/20
1,033
>>> Ongoing success with ramp-up of Grasberg
underground mines
> 15% increase in mining rates from 2Q21
› Annualized metals production on target to reach post
ramp-up targets by YE 2021
>>> Favorable operational and market outlook
>>> Evaluating future organic growth opportunities
Positioned for increasing capital returns to shareholders
>>> Added two new independent directors to FCX Board
> 4 new directors in 2021
> 9 directors on Board
>>> Advancing climate initiatives
Adjusted
3Q21
EBITDA (2)
Increasing
($ in billions)
3Q20
$1.4
Net Debt (3)
Declining
($ in billions)
3Q21
$2.0
3Q20
(1) Consolidated copper sales.
$3.0
$7.6
(2) Adjusted EBITDA is a non-GAAP financial measure. See reconciliation to net income
on slide 37.
(3) Net debt equals consolidated debt less consolidated cash and cash equivalents;
consolidated debt includes $146 mm in borrowings associated with the Indonesia
smelter project.
See Cautionary Statement.View entire presentation