Freeport-McMoRan's Grasberg operations disrupted by rainfall, Q1 sales expected below guidance

FREEPORT-MCMORAN INC

PT-FI Grasberg milling complex damaged by flooding and debris from Feb 11 intense rains; personnel safely evacuated.
Preliminary estimates indicate operations can resume by end of February 2023; no impact on long-term plans.
Daily production approx. 5M lbs copper and 5,000 oz gold; disruption will lower Q1 2023 sales vs. prior guidance (900M lbs copper, 300k oz gold).
Damage assessment and recovery plan underway; estimates subject to change.

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