Evercore Investment Banking Pitch Book

McMoRan Situation Analysis Shareholder Name Institutional Wells Fargo & Co. Omega Advisors, Inc. Black Rock, Inc The Vanguard Group, Inc. DAY ROBERT ADDISON Wilkinson O'Grady & Co., Inc. (New York) State Street Corp. Lord, Abbett & Co. LLC Jokey Corp. Chilton Investment Co. LLC Other Total Institutional Insiders Plains Exploration & Production Co. James R. Moffett Gerald J. Fond Robert Addison Day BM Rankin Jr. Other Total Insider Retail Total Shares Outstanding (Basic) Float Short Interest (% of Basic) Shareholder Overview # of Shares % of Total Investor Type Source: FactSet EVERCORE PARTNERS 10,187,716 7,133,800 7,072,718 5,617,931 4,026,560 3,700,162 3,124,550 2,103,414 1,614,000 1,569,571 28.636,046 74,786,468 1.0% 17.7% 46.2% # of Shares % of Total 6.3% Investment Adviser Apgressive Growth 4.4% Hedge Hand 4.4% Mutual Fund 3.5% Mutual Fund 2.5% Hedge Fund 2.3% Investment Adviser 1.9% Mutual Fund 1.3% Mutual Fund 1.0% Investment Adviser Hedge Fund Strategy Turnover Activist Threat High Lav Fully Diluted 51,000,000 51,000,000 4,968,206 1,916,099 31.5% 3.1% 1.2% 8,918,206 1,949,849 1,078,660 0.7% 1,112,410 591,712 0.4% 614,587 721,242 0.4% 4,557,689 60,275,919 37.2% 68,152,741 26,815,613 16.6% 161,878,000 100.0% 101,602,081 13.5% 62.8% Index Index Value GARP Index Value Value Growth Low Medium 11 Very Low Very Low High Low Very Low Medium Low Medium ■ Freeport McMoRan Copper & Gold Inc. holds 500,000 shares of convertible perpetual preferred stock with each share convertible into 62.5 shares of MMR common stock at initial conversion price of $16.00 per share 00000000 Sovereign Wealth Manager 1% Insider Investor Type Value: 26% Broker 2% Confidential Other Index 19% Retail 16% Investment Adviser 17% Hedge Fund Company 13% Rate of Turnover Mutual Fund Manager 13% Aggressive Growth 16% GARP 27% Growth 6% Yield 4% Deep Value 2% Note: "GARP" is Growth At a Reasonable Price MOMORAR

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