FREEPORT-MCMORAN INC

NOTE 1. GENERAL INFORMATION

The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all information and disclosures required by generally accepted accounting principles (GAAP) in the United States (U.S.). Therefore, this information should be read in conjunction with Freeport-McMoRan Inc.’s (FCX) consolidated financial statements and notes contained in its annual report on Form 10-K for the year ended December 31, 2025 (2025 Form 10-K). The information furnished herein reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the interim periods reported. All such adjustments are, in the opinion of management, of a normal recurring nature. Operating results for the nine-month period ended September 30, 2026, are not necessarily indicative of the results that may be expected for the year ending December 31, 2026. Dollar amounts in tables are stated in millions, except per share amounts.

Cerro Verde. In May 2026, FCX purchased 2.0 million shares of Cerro Verde common stock for $107 million, increasing FCX’s ownership interest in Cerro Verde from 55.08% to 55.66%. As a result of the transaction, the carrying value of Cerro Verde’s noncontrolling interest was reduced by $36 million, and $73 million was recorded to reduce capital in excess of par value, including a $2 million deferred tax impact.

Subsequent Events. FCX evaluated events after September 30, 2026, and through the date the consolidated financial statements were issued and determined that any events and transactions occurring during this period that would require recognition or disclosure are appropriately addressed in these consolidated financial statements.

NOTE 2. EARNINGS PER SHARE

FCX calculates its basic net income per share of common stock under the two-class method and calculates its diluted net income per share of common stock using the more dilutive of the two-class method or the treasury-stock method. Basic net income per share of common stock was computed by dividing net income attributable to common stockholders (after deducting accumulated undistributed dividends and earnings allocated to participating securities) by the weighted-average shares of common stock outstanding during the period. Diluted net income per share of common stock was calculated by including the basic weighted-average shares of common stock outstanding adjusted for the effects of all potential dilutive shares of common stock, unless their effect would be antidilutive.

Reconciliations of net income and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income per share follow:

Shares associated with outstanding stock options with exercise prices greater than the average market price of FCX’s common stock during the period are excluded from the computation of diluted net income per share of common stock. There wereno such shares excluded in any of the periods shown above.

NOTE 3. INCOME TAXES

Geographic sources of FCX’s provision for income taxes follow:

FCX’s consolidated effective income tax rate is a function of the various rates in the jurisdictions where it operates and was 29% for the first nine months of 2026 and 36% for the first nine months of 2025. The U.S. income tax provision for the first nine months of 2026 primarily relates to the U.S. Corporate Alternative Minimum Tax provisions, which do not benefit from regular tax U.S. net operating loss carryforwards.

In third-quarter 2026, PTFI received confirmation of income tax benefits associated with its smelter development, including benefits attributable to a six-year incentive period from 2025 through 2030. The foreign income tax provision for the first nine months of 2026 includes tax benefits recognized by PTFI associated with the year 2025 and first nine months of 2026.

NOTE 4. DEBT AND EQUITY

The components of debt follow:

Revolving Credit Facilities.

PTFI. In September 2026, PTFI amended and restated its $1.75 billion, senior unsecured revolving credit facility and extended the maturity date from November 2028 to September 2031. The terms of the amended and restated revolving credit facility are substantially similar to the prior facility, including customary representations and affirmative and negative covenants. Interest on loans made under the revolving credit facility is determined based on the Secured Overnight Financing Rate (SOFR), plus a spread.

At September 30, 2026, PTFI had $250 million in borrowings outstanding under its revolving credit facility, which is available for its general corporate purposes.

FCX. In May 2026, FCX and PTFI entered into a new $3.0 billion, five-year, senior unsecured revolving credit facility that matures in May 2031 and replaced the revolving credit facility that was scheduled to mature in October 2027. The terms of the new revolving credit facility are substantially similar to the prior facility, including that FCX may obtain loans and issue letters of credit in an aggregate amount of up to $3.0 billion, with a $1.5 billion sublimit on the issuance of letters of credit and a $500 million limit on PTFI’s borrowing capacity.

Interest on loans made under FCX’s revolving credit facility may, at the option of FCX or PTFI, be determined based on the SOFR or the Alternate Base Rate (ABR), plus a spread to be determined by reference to a grid based on FCX’s credit rating.

FCX’s revolving credit facility contains customary affirmative covenants and representations, and also contains various negative covenants that, among other things and subject to certain exceptions, restrict the ability of FCX’s subsidiaries that are not borrowers or guarantors to incur additional indebtedness (including guarantee obligations) and the ability of FCX or FCX’s subsidiaries to: create liens on assets; enter into sale and leaseback transactions; engage in mergers, liquidations and dissolutions; and sell assets. In addition, the revolving credit facility contains a total leverage ratio financial covenant.

At September 30, 2026, there wereno borrowings and $5 million in letters of credit issued under FCX’s revolving credit facility.

Cerro Verde. In May 2026, Cerro Verde entered into a new $350 million, five-year, senior unsecured revolving credit facility that matures in May 2031 and replaced its prior revolving credit facility that was scheduled to mature in May 2027. The terms of the new revolving credit facility are substantially similar to the prior facility, including customary representations and affirmative and negative covenants. Interest on loans made under Cerro Verde’s revolving credit facility may, at the option of Cerro Verde, be determined based on the SOFR or ABR, plus a spread.

At September 30, 2026, there wereno borrowings outstanding under Cerro Verde’s revolving credit facility.

At September 30, 2026, PTFI, FCX and Cerro Verde were each in compliance with the covenants under their respective credit facilities.

Interest Expense, Net. Consolidated interest costs (before capitalization) totaled $170 million in third-quarter 2026, $182 million in third-quarter 2025, $584 million for the first nine months of 2026 (which included $67 million of nonrecurring adjustments for prior period withholding taxes on PTFI’s senior notes) and $537 million for the first nine months of 2025.

Capitalized interest totaled $84 million in third-quarter 2026, $75 million in third-quarter 2025, $289 million for the first nine months of 2026 (which included $64 million associated with prior period withholding taxes on PTFI’s senior notes) and $278 million for the first nine months of 2025.

Share Repurchase Program and Dividends. During the first nine months of 2026, FCX acquired 4.9 million shares of its common stock for a total cost of $305 million ($62.69 average cost per share). As of October 31, 2026, FCX has acquired a total of 56.8 million shares ($40.58 average cost per share) and has $2.7 billion available under its $5.0 billion share repurchase program.

On September 23, 2026, FCX’s Board of Directors (Board) declared cash dividends totaling $0.15 per share on its common stock (including a $0.075 per share quarterly base cash dividend and a $0.075 per share quarterly variable, performance-based cash dividend), which were paid on November 2, 2026, to common stockholders of record on October 15, 2026.

The declaration and payment of dividends (base or variable) and timing and amount of any share repurchases are at the discretion of FCX’s Board and management, respectively, and are subject to a number of factors, including not exceeding FCX’s net debt target, capital availability, FCX’s financial results, cash requirements, global economic conditions, changes in laws, contractual restrictions and other factors deemed relevant by FCX’s Board or management, as applicable. FCX’s share repurchase program may be modified, increased, suspended or terminated at any time at the Board’s discretion.

NOTE 5. FINANCIAL INSTRUMENTS

FCX does not purchase, hold or sell derivative financial instruments unless there is an existing asset or obligation, or it anticipates a future activity that is likely to occur and will result in exposure to market risks, which FCX intends to offset or mitigate. FCX does not enter into any derivative financial instruments for speculative purposes but has entered into derivative financial instruments in limited instances to achieve specific objectives. These objectives principally relate to managing risks associated with commodity price changes, foreign currency exchange rates and interest rates.

Commodity Contracts. From time to time, FCX has entered into derivative contracts to hedge the market risk associated with fluctuations in the prices of commodities it purchases and sells. Derivative financial instruments used by FCX to manage its risks do not contain credit risk-related contingent provisions.

A discussion of FCX’s derivative contracts and programs follows.

Derivatives Designated as Hedging Instruments - Fair Value Hedges.

Copper Futures and Swap Contracts. Some of FCX’s North American copper rod and cathode customers request a fixed market price instead of the Commodity Exchange Inc. (COMEX) average copper price in the month of shipment. FCX hedges this price exposure in a manner that allows it to receive the COMEX average price in the month of shipment while the customers pay the fixed price they requested. FCX accomplishes this by entering into copper futures or swap contracts. Hedging gains or losses from these copper futures and swap contracts are recorded in revenues. FCX did not have any significant gains or losses resulting from hedge ineffectiveness during the nine months ended September 30, 2026 and 2025. At September 30, 2026, FCX held copper futures and swap contracts that qualified for hedge accounting for 133 million pounds at an average contract price of $6.30 per pound, with maturities through September 2028.

Summary of (Losses) Gains. A summary of realized and unrealized (losses) gains recognized in revenues for derivative financial instruments related to commodity contracts that are designated and qualify as fair value hedge transactions, including on the related hedged item, follows:

Derivatives Not Designated as Hedging Instruments.

Embedded Derivatives. Certain FCX sales contracts provide for provisional pricing primarily based on the London Metal Exchange (LME) copper settlement price and the London Bullion Market Association (London) PM gold price at the time of shipment as specified in the contract. FCX receives market prices based on prices in the specified future month, which results in price fluctuations recorded in revenues until the date of settlement.

FCX records revenues and invoices customers at the time of shipment based on the then-current LME copper settlement price and the London PM gold price as specified in the contracts, which results in an embedded derivative (i.e., a pricing mechanism that is finalized after the time of delivery) that is required to be bifurcated from the host contract. The host contract is the sale of the metals contained in the concentrate, cathode or anode slimes at the then-current LME copper settlement or London PM gold prices. FCX applies the normal purchases and normal sales scope exception in accordance with derivatives and hedge accounting guidance to the host contract in its concentrate, cathode and anode slime sales agreements because these contracts do not allow for net settlement and always result in physical delivery. The embedded derivative does not qualify for hedge accounting and is adjusted to fair value through earnings each period, using the period-end LME copper forward price and the adjusted London PM gold price, until the date of final pricing. Similarly, FCX purchases copper under contracts that provide for provisional pricing. Mark-to-market price fluctuations from these embedded derivatives are recorded through the settlement date and are reflected in revenues for sales contracts and in inventory for purchase contracts.

A summary of FCX’s embedded derivatives at September 30, 2026, follows:

Copper Forward Contracts. Atlantic Copper enters into copper forward contracts designed to hedge its copper price risk whenever its physical purchases and sales pricing periods do not match. These economic hedge transactions are intended to hedge against changes in copper prices, with the mark-to-market hedging gains or losses recorded in production and delivery costs. At September 30, 2026, Atlantic Copper held net copper forward sales contracts for 2 million pounds at an average contract price of $6.64 per pound, with maturities through November 2026.

Summary of Gains (Losses). A summary of realized and unrealized gains (losses) recognized in operating income for commodity contracts that do not qualify as hedge transactions, including embedded derivatives, follows:

a. Amounts recorded in revenues.

b. Amounts recorded in cost of sales as production and delivery costs.

Credit Risk. FCX is exposed to credit loss when financial institutions with which it has entered into derivative transactions are unable to pay. To minimize the risk of such losses, FCX uses counterparties that meet certain credit requirements and periodically reviews the creditworthiness of these counterparties. At September 30, 2026, the maximum amount of credit exposure associated with derivative transactions was $114 million.

Other Financial Instruments. Other financial instruments include cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, investment securities, legally restricted trust assets, accounts payable and accrued liabilities, accrued income taxes, dividends payable and debt. The carrying value for these financial instruments classified as current assets or liabilities approximates fair value because of their short-term nature and generally negligible credit losses (refer to Note 6 for the fair values of investment securities, legally restricted funds and debt).

Cash and Cash Equivalents and Restricted Cash and Cash Equivalents. The following table provides a reconciliation of total cash and cash equivalents and restricted cash and cash equivalents presented in the consolidated statements of cash flows:

a. Reflects cash designated for talc-related litigation in accordance with a legal settlement (refer to Note 10 of FCX’s 2025 Form 10-K for further discussion).

NOTE 6. FAIR VALUE MEASUREMENT

Fair value accounting guidance includes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). FCX does not have any significant Level 3 assets or liabilities.

FCX’s financial instruments are recorded on the consolidated balance sheets at fair value except for debt. A summary of the carrying amount and fair value of FCX’s financial instruments (including those measured at net asset value (NAV) as a practical expedient), other than cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, accrued income taxes and dividends payable (refer to Note 5), follows:

a. Current portion included in other current assets and long-term portion included in other assets.

b. Excludes amounts included in restricted cash and cash equivalents that approximate fair value and are associated with talc-related litigation at September 30, 2026, and December 31, 2025. Refer to Note 10 of FCX’s 2025 Form 10-K for further discussion.

c. Refer to Note 5 for further discussion.

d. Recorded at cost except for debt assumed in the 2007 acquisition of Freeport Minerals Corporation, which was recorded at fair value at the acquisition date.

Valuation Techniques. Equity securities are valued at the closing price reported on the active market on which the individual securities are traded and, as such, are classified within Level 1 of the fair value hierarchy.

The U.S. core fixed income fund is valued at NAV. The fund strategy seeks total return consisting of income and capital appreciation primarily by investing in a broad range of investment-grade debt securities, including U.S. government obligations, corporate bonds, mortgage-backed securities, asset-backed securities and money market instruments. There are no restrictions on redemptions (which are usually within one business day of notice).

Fixed income securities (government securities, corporate bonds, asset-backed securities and collateralized mortgage-backed securities) are valued using a bid-evaluation price or a mid-evaluation price. These evaluations are based on quoted prices, if available, or models that use observable inputs and, as such, are classified within Level 2 of the fair value hierarchy.

Money market funds are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets.

FCX’s embedded derivatives on provisional copper concentrate, copper cathode and gold purchases and sales are valued using quoted monthly LME copper forward prices and the adjusted London PM gold prices at each reporting date based on the month of maturity (refer to Note 5); however, FCX’s contracts themselves are not traded on an exchange. As a result, these derivatives are classified within Level 2 of the fair value hierarchy.

FCX’s derivative financial instruments for copper futures and swap contracts and copper forward contracts that are traded on the respective exchanges are classified within Level 1 of the fair value hierarchy because they are valued using quoted monthly COMEX or LME prices at each reporting date based on the month of maturity (refer to Note 5). Certain of these contracts are traded on the over-the-counter market and are classified within Level 2 of the fair value hierarchy based on COMEX and LME forward prices.

Debt is primarily valued using available market quotes and, as such, is classified within Level 2 of the fair value hierarchy.

The techniques described above may produce a fair value that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while FCX believes its valuation techniques are appropriate and consistent with other market participants, the use of different techniques or assumptions to determine fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the techniques used at September 30, 2026, as compared with those techniques used at December 31, 2025.

NOTE 7. CONTINGENCIES AND COMMITMENTS

Asset Retirement Obligations (AROs)

Refer to Note 10 of FCX’s 2025 Form 10-K for further discussion of FCX’s ARO estimates.

Oil and Gas Properties. In third-quarter 2026, Freeport-McMoRan Oil & Gas LLC, FCX’s 100%-owned subsidiary that holds its legacy oil and gas properties, recorded net ARO additions totaling $24 million, primarily reflecting revised assumptions resulting from changes in contractual terms for weather-related delays in the Gulf of Mexico (also known as the Gulf of America).

Indonesia Matters

Refer to Note 10 of FCX’s 2025 Form 10-K for further discussion of Indonesia matters.

Long-Term Mining Rights. In February 2026, FCX and PTFI entered into a Memorandum of Understanding (MOU) with the Indonesia government for a life of resource extension of operating rights in the Grasberg minerals district beyond the current expiration in 2041. Under the terms of the MOU, FCX would maintain its current ownership interest in PTFI of 48.76% through 2041 and hold approximately 37% beginning in 2042. The existing governance and operating structure, and terms of the existing shareholder agreement, special mining business license (IUPK) and other agreements in effect will continue over the life of the resource.

In June 2026, PTFI submitted its application for extension of its IUPK, and FCX and PTFI are working with the Indonesia government to complete the formal license process. The extension of operating rights and other terms are subject to, among other things, the Indonesia government’s issuance of an amended IUPK and entry into definitive agreements.

Gain on PTFI Mud Rush Incident Insurance Settlement. In April 2026, PTFI collected pre-tax proceeds of $0.7 billion associated with the settlement of its insurance claim under its property and business interruption policies related to the September 2025 external mud rush incident. The gain associated with this insurance settlement was recognized in first-quarter 2026.

Export Proceeds. In 2023, the Indonesia government issued a regulation that required 30% of PTFI’s gross export proceeds to be temporarily deposited into Indonesia banks for a period of 90 days before withdrawal. In March 2025, the Indonesia government amended the regulation to require 100% of PTFI’s export proceeds to be deposited into Indonesia banks for 12 months, but the amended regulation permits the use of these funds for ongoing business requirements, including dividends to shareholders, payment of taxes and other obligations to the Indonesia government, payment for materials or capital expenditures and repayment of loans.

In second-quarter 2026, the Indonesia government amended its export proceeds regulation to provide qualifying companies certain elections. PTFI has elected to remain under its existing framework, which does not impose additional restrictions on the use of cash beyond the existing 50% cap on conversion of export proceeds to Indonesia rupiah, a limitation that is not expected to impact PTFI’s ability to meet its funding needs.

Tax Matters

Indonesia Tax Matters. In second-quarter 2026, PTFI received assessments totaling approximately $220 million from the Indonesia tax authorities related to various 2022 audit exceptions for income and other taxes. On June 30, 2026, PTFI paid these disputed assessments, and filed objections to the assessments because PTFI believes it has properly determined and paid its taxes. At September 30, 2026, PTFI has a long-term tax receivable for these assessments.

In October 2026, PTFI received assessments totaling approximately $740 million from the Indonesia tax authorities related to various 2023 audit exceptions for income and other taxes. PTFI plans to file objections to the assessments because it believes it has properly determined and paid its taxes.

Litigation

There were no significant updates to previously reported legal proceedings included in Note 10 of FCX’s 2025 Form 10-K, other than the matter discussed below.

A third-party contractor received a notification of audit findings from the Indonesia tax authorities relating to value added taxes on certain imported goods associated with the construction of PTFI’s smelter. The contractor plans to object to any resulting assessments received, and PTFI is providing assistance to the contractor in supporting its position. PTFI would not be a party to any assessments and has not assumed responsibility for any resulting liability. However, the contractor has asserted that it may have contractual rights to seek recovery from PTFI of any amounts ultimately payable. Accordingly, it is reasonably possible that PTFI may incur costs depending on the ultimate resolution of the matter and any related contractual claims. PTFI is currently unable to reasonably estimate the possible exposure because of uncertainties regarding the ultimate resolution of the matter.

NOTE 8. BUSINESS SEGMENT INFORMATION

Product Revenues. FCX’s revenues attributable to the products it sold for the third quarters and for the first nine months of 2026 and 2025 follow:

a. FCX purchases copper cathode primarily for processing by its U.S. Rod & Refining operations.

b. Reflects royalties on sales from PTFI and Cerro Verde that vary with the volume of metal sold and prices.

c. Revenues from FCX’s copper concentrate sales are recorded net of treatment charges, which vary with the sales volumes and the price of copper. Lower charges in the first nine months of 2026, compared to the first nine months of 2025, primarily reflect lower treatment charge rates as a result of favorable market conditions and the lack of copper concentrate sales volumes in Indonesia now that PTFI is a fully integrated producer of refined copper, gold and silver.

d. Prior to the expiration of its export license on September 16, 2025, PTFI was assessed export duties on copper concentrate sales at a rate of 7.5%. Refer to Note 11 of FCX’s 2025 Form 10-K for further discussion.

e. Refer to Note 5 for discussion of embedded derivatives related to FCX’s provisionally priced copper concentrate and cathode sales contracts.

Reportable Segments. FCX has organized its mining operations into four primary divisions – U.S. copper mines, South America operations, Indonesia operations and Molybdenum mines.

In the U.S., FCX operates seven copper operations – Morenci (72%-owned), Bagdad, Safford (including Lone Star), Sierrita and Miami in Arizona, and Chino and Tyrone in New Mexico, andtwo molybdenum mines – Henderson and Climax in Colorado. A majority of the copper produced at the U.S. copper mines is cast into copper rod by the U.S. Rod & Refining operations.

In South America, FCX operatestwo copper operations – Cerro Verde in Peru and El Abra in Chile.

In Indonesia, PTFI operates in the Grasberg minerals district. With the completion of its downstream processing facilities during 2025, PTFI is a fully integrated producer of refined copper, gold and silver.

Operating segments that meet certain thresholds are reportable segments, including the Cerro Verde copper mine, Indonesia operations and U.S. Rod & Refining operations. Though not quantitatively material, FCX has also voluntarily disclosed the Morenci copper mine and Atlantic Copper as reportable segments in the following tables.

•Morenci. The Morenci open-pit copper mine, located in southeastern Arizona, produces copper cathode and copper concentrate. In addition to copper, the Morenci mine also produces molybdenum concentrate.

•Cerro Verde. The Cerro Verde open-pit copper mine, located near Arequipa, Peru, produces copper cathode and copper concentrate. In addition to copper, the Cerro Verde mine also produces molybdenum concentrate and silver.

•Indonesia Operations. Indonesia operations include PTFI’s Grasberg minerals district that produces copper concentrate that contains significant quantities of gold and silver, and PTFI’s downstream processing facilities. PTFI’s smelter exclusively receives concentrate from the Grasberg minerals district and the precious metals refinery receives anode slimes from the smelter and from PT Smelting (PTFI’s 66%-owned smelter and refinery in Gresik, Indonesia, which is accounted for under the equity method).

•U.S. Rod & Refining. The U.S. Rod & Refining segment consists of copper conversion facilities located in the U.S., and includes a refinery, that primarily produces copper cathode from copper anode produced at FCX’s U.S. smelter, and two rod mills that produce salable copper rod from copper cathode primarily produced at FCX’s U.S. copper mines and refineries.

•Atlantic Copper. Atlantic Copper smelts and refines copper concentrate and markets refined copper and precious metals in slimes.

Intersegment sales between FCX’s operating segments are based on terms similar to arm’s-length transactions with third parties at the time of the sale. Intersegment sales may not be reflective of the actual prices ultimately realized because of a variety of factors, including additional processing, the timing of sales to unaffiliated customers and transportation premiums.

FCX allocates certain operating costs, expenses and capital expenditures to its operating segments. However, not all costs and expenses applicable to an operation are allocated. Accordingly, the following segment information reflects management determinations that may not be indicative of what the actual financial performance of each reportable segment would be if it were an independent entity.

FCX’s Chief Executive Officer is identified as its chief operating decision maker (CODM) under segment reporting guidance. Operating income (loss) is the financial measure of profit or loss used by the CODM to review segment results, and the significant segment expenses reviewed by the CODM are consistent with the operating expense line items presented in FCX’s consolidated statements of income. The CODM uses operating income (loss) to assess segment performance against forecasted results and to allocate resources, including capital investment in mining operations and expansion and potential expansions.

Financial Information by Reportable Segment as of and for the three months ended September 30, 2026

a. Includes amounts attributable to FCX’s other operating segments that do not meet the quantitative thresholds for determining reportable segments under U.S. GAAP, including other U.S. copper mines, the El Abra mine in Chile, the molybdenum mines, certain downstream processing facilities and exploration.

b. Includes charges totaling $244 million for idle facility and restoration costs associated with the September 2025 external mud rush incident.

c. Includes charges totaling $64 million for idle facility costs associated with the September 2025 external mud rush incident.

d. Includes DD&A of $152 million related to other operating segments and $1 million related to corporate assets.

Financial Information by Reportable Segment as of and for the three months ended September 30, 2025

a. Includes amounts attributable to FCX’s other operating segments that do not meet the quantitative thresholds for determining reportable segments under U.S. GAAP, including other U.S. copper mines, the El Abra mine in Chile, the molybdenum mines, certain downstream processing facilities and exploration.

b. Includes charges totaling $171 million for idle facility and direct recovery costs associated with the September 2025 external mud rush incident.

c. Includes charges totaling $24 million for idle facility costs associated with the September 2025 external mud rush incident.

d. Includes DD&A of $132 million related to other operating segments and $1 million related to corporate assets.

Financial Information by Reportable Segment for the nine months ended September 30, 2026

a. Includes amounts attributable to FCX’s other operating segments that do not meet the quantitative thresholds for determining reportable segments under U.S. GAAP, including other U.S. copper mines, the El Abra mine in Chile, the molybdenum mines, certain downstream processing facilities and exploration.

b. Includes charges totaling $934 million for idle facility and restoration costs associated with the September 2025 external mud rush incident.

c. Includes charges totaling $236 million for idle facility costs associated with the September 2025 external mud rush incident.

d. Includes DD&A of $458 million related to other operating segments and $1 million related to corporate assets.

Financial Information by Reportable Segment for the nine months ended September 30, 2025

a. Includes amounts attributable to FCX’s other operating segments that do not meet the quantitative thresholds for determining reportable segments under U.S. GAAP, including other U.S. copper mines, the El Abra mine in Chile, the molybdenum mines, certain downstream processing facilities and exploration.

b. Includes charges totaling $171 million for idle facility and direct recovery costs associated with the September 2025 external mud rush incident.

c. Includes charges totaling $24 million for idle facility costs associated with the September 2025 external mud rush incident.

d. Includes DD&A of $394 million related to other operating segments and $1 million related to corporate assets.