Freeport-McMoRan continuing work on potential expansion of Bagdad mine

Says making steady progress on smelter projects in Indonesia. Says copper inventories on exchanges remain low by historical standards. Says copper is the metal when it comes to electrification and Freeport is positioned as a leader. Says sees ongoing opportunities for additional scale in leach initiatives. Says continues to enhance productivity. Says focusing on sustaining and scaling leach initiatives. Says continuing work on new technologies front. Says has 40B lbs. of copper in stockpiles that have already been mined. Says continuing work on potential expansion of Bagdad mine. Says completing feasibility study. Says making investments in tailing infrastructure for the future. Says sees major opportunity for expansion at El Abra. Says retesting the economics and planning investments in water infrastructure. Says Kucing Liar development proceeding on schedule. Says conducting additional exploration in the Grasberg district. Says identified significant resource at Safford district. Says going to continue to be disciplined in approach.