FIRST QUANTUM MINERALS ANNOUNCES THE INCREASE OF THE MAXIMUM TENDER AMOUNT OF ITS CASH TENDER OFFER FOR ITS OUTSTANDING 6.875% SENIOR NOTES DUE 2027

Core Points - First Quantum Minerals Ltd. has increased the maximum principal amount of its Tender Offer from $500 million to$750 million for its 6.875% Senior Notes due 2027 [1][2] - The Tender Offer will expire on March 19, 2025, with an early tender deadline of March 4, 2025 [3] - Holders of the Notes can receive $1,012 per$1,000 principal amount if they tender before the early deadline, and $962 if they tender after [3] - The completion of the Tender Offer is subject to certain conditions, including the successful closing of a concurrent offering of$1 billion in new senior notes due 2033 [4] - The terms of the Tender Offer remain unchanged except for the increase in the maximum amount [5] Tender Offer Details - The Tender Offer allows holders to withdraw their Notes at any time before the early tender deadline [3] - The Total Consideration includes a $50 early tender premium for those who tender before the early deadline [3] - The Company reserves the right to amend, extend, or terminate the Tender Offer at any time [4] Financial Context - The proceeds from the new notes offering will be used to repay a portion of the revolving credit facility and fund the Total Consideration for the Tender Offer [4] - The Company has engaged several financial institutions as Dealer Managers for the Tender Offer [7]