Freeport Reports Second-Quarter and Six-Month 2024 Results

Freeport reported second-quarter 2024 net income attributable to common stock of $616 million, $0.42 per share, and adjusted net income attributable to common stock of $667 million, $0.46 per share, after excluding net charges totaling $51 million, $0.04 per share, primarily associated with nonrecurring labor-contract charges at Cerro Verde and revisions to environmental obligation estimates.

Richard Adkerson, Chairman of the Board, and Kathleen Quirk, President and Chief Executive Officer, said, “Our global team remained focused during the quarter on strong execution of our operating plans, enhancing productivity and cost control, and initiatives to build and advance optionality in our organic growth portfolio. Our team reached an important milestone in Indonesia during the quarter with the start of commissioning of our major new copper smelter, and we are working to execute a safe and efficient ramp-up to full capacity by the end of the year. This strategically important investment is integral to support our long-term, high-quality operations in the Grasberg minerals district. Copper pricing was strong in the second

100% Tuition Covered at Colorado Technical University

Employees now can pursue their educational goals with no out-of-pocket expenses, thanks to commitment grants being offered through a new partnership between the company and Colorado Technical University.

Commitment grants work in conjunction with the company’s tuition reimbursement program to cover 100 percent of college tuition at CTU for eligible, full-time employees in North America who meet program criteria. The fully online program offers associate’s, bachelor’s and master’s degrees using five-week sessions. More than 80 degrees and concentrations are available for the grant, with company approval.

Visit CTU’s website for Freeport employees to learn more about the program, including how to get started.

Freeport, Education Forward Arizona Launch Workforce Initiative

Freeport-McMoRan has joined forces with Education Forward Arizona to engage potential future members of its workforce through a new scholarship and job placement initiative.

The Guarantee Your Future with Freeport program will support 25 students and provide education, training, a paid summer internship and job placement in one of six critical technical areas. Students will earn a certificate or credential from a designated community college in Arizona.

Participants in this new workforce development program began classes in August to earn a certification in one of the following areas vital to the mining industry:

• Diesel technician
• Industrial electrical
• Process control/instrumentation technology
• Fixed plant maintenance/advanced manufacturing
• Heavy equipment operations
• Welder

Sheila Deely

Assistant General Counsel and Vice President-Corporate Environmental Affairs. Formerly, Assistant General Counsel and Senior Director-Corporate Environmental Affairs.

Toby Dunn

Vice President-Morenci Operations. Formerly, General Manager Maintenance-FM Americas.

Andrea Vaccari

Vice President-Responsible Production Frameworks and Sustainability. Formerly, Director-Responsible Production Frameworks and Sustainability.

Eric Wiese

General Manager-Henderson. Formerly, Manager-Regional Supply Chain.