Slide 1: La Granja NI 43-101 Technical Report
LA GRANJA NI 43-101 TECHNICAL REPORT (In United States dollars, except where noted otherwise) MAY 11, 2026
Slide 2: La Granja Project Overview
♦ Located in Querocoto District of Chota ♦ Significant development work carried out Province within the Cajamarca Region of by Rio Tinto between 2006 and 2023 northern Peru, on the eastern flank of the LA GRANJA Western Cordillera of the Andes ♦ In March 2023, First Quantum acquired 55% interest Pro
Slide 3: Two principal mineralized centres at Paja Blanca and Mirador
Two principal mineralized centres at Paja Blanca and Mirador Paja Blanca: Primarily breccia-dominated copper mineralization at upper levels GEOLOGY Mirador: Primarily skarn-hosted copper–zinc mineralization at upper levels Paja Blanca & Mirador: ♦ Transition to porphyry-style mineralization at depth
Slide 4: Mineral Resource Estimate
La Granja Mineral Resource estimate as of December 31, 2025, reported at a 0.16% Cu cut-off grade Grade Contained Metal Tonnes Density Classification (Mt) (t/m3) Cu (%) Ag (g/t) Au (g/t) Mo (g/t) Cu (Mt) Ag (Moz) Au (Moz) Mo (Mlb) MINERAL RESOURCE Measured 1,427 2.47 0.56 4.26 0.04 73.7 8.0 195.4 2.
Slide 5: World-Class Undeveloped Project
15 Largest Undeveloped Open-Pit Greenfield Projects1 Bubble size represents resource contained copper WORLD-CLASS Represents First Quantum project UNDEVELOPED PROJECT El Pachon ♦ One of the largest undeveloped projects globally1 Twin Metals Tampakan ♦ Second largest greenfield project Frieda La base
Slide 6: Conceptual Design
♦ Amenable to conventional large-scale open pit mining using drill and blast, shovel loading, and off-highway truck haulage followed by conventional flotation processing CONCEPTUAL ♦ Ore comminution is planned to occur adjacent to the pit, transported by pipeline through a 7km access tunnel to a fla
Slide 7: Arsenic Management
Improved geological understanding of arsenic distribution ♦ Arsenic is structurally controlled: High-arsenic zones are concentrated along major fault structures, not randomly distributed ARSENIC Eight primary fault systems mapped and modeled in 3D across the deposit MANAGEMENT ♦ ♦ Predictable high a
Slide 8: Next Steps
NEXT STEPS ♦ Advance permitting and regulatory engagement in Peru ♦ Progress baseline environmental and social studies to support ESIA ♦ Strengthen ongoing community and stakeholder engagement ♦ Prepare and submit Detailed ESIA (ESIA-d) 8
Slide 9: ESG: Community
ESG: COMMUNITY LA GRANJA SOCIAL FUND ♦ $5 million annual contribution to La Granja Social Fund ♦ Governed through a participatory, multi-stakeholder Board, including: o Three community representatives (district and local mayors) o Two representatives from the Peruvian state o Two representatives fro
Slide 10: ESG: Community
Developing future talent: INSPIRA Scholarship Program ♦ Expands access to higher education for high-achieving students from Querocoto o Beneficiaries previously reliant on subsistence livelihoods, now pursuing careers in ESG: healthcare, engineering, mining, and technical trades ♦ 38 scholarships aw
Slide 11: ESG: Community Programs
Querocoto United for Learning: Together We Win (Unidos Todos By Your Side (Junto a Ti): Support for Education initiative funding supplies, Ganamos): Sports championships in vulnerable individuals who may be part of technology and training courses Peru, Argentina and Paraguay future resettlement proc
Slide 12: First Quantum's Approach to Water Management
The Company envisages that water use for La Granja will be predominantly through reuse of contact water and from a desalination plant in order to avoid interactions with community water sources. FIRST QUANTUM’S First Quantum is firmly committed to reducing water withdrawal and discharge by adopting
Slide 13: Appendix
& FIRST QUANTUM MINERALS APPENDIX
Slide 14: First Quantum: A Leader in Copper
FIRST QUANTUM: A LEADER IN COPPER THE RIGHT THE RIGHT THE RIGHT THE RIGHT METALS ASSETS TRACK-RECORD CAPITAL DISCIPLINE ◆ Pure-play copper producer ◆ FQM Zambia: Top 10 copper ◆ Focused on safe and productive ◆ Completed large-scale complex with vertically operational performance ◆ Top 10 producer o
Slide 15: Track Record of Project Delivery
Benefits of In-House Projects Team Flexibility to adapt the execution of Ability to scrutinize costs a project and deliver projects more efficiently TRACK RECORD OF DELIVERING PROJECTS AT LOW PROJECT DELIVERY CAPITAL INTENSITY Smooth transition from development to Learnings from each project transfe
Slide 16: A Different Approach
HISTORY OF PROJECTS BUILT BY FIRST QUANTUM PROJECT CAPACITY PROJECT COUNTRY YEAR COMM ACHIEVEMENTS IN HOUSE THIRD PARTY A DIFFERENT TYPE (MTPA) APPROACH KANSANSHI Zambia 2005 Cu/Au Greenfield 27 Commissioned in 2004; Achieved commercial production in less than one year; Subsequently expanded GUELB N
Slide 17: Doing Business the Right Way
PRIORITIZING TANGIBLE STEPS TO SOCIAL RESPONSIBILITY REDUCE EMISSIONS DOING BUSINESS Community relationships based on transparency, respect, and trust ~10 kms Electric trolley-assist lines in Zambia THE RIGHT WAY $28 million 28 Schools supported and >140,000 tonnes CO2e saved annually through pit e
Slide 18: Cautionary Statement on Forward-Looking Information
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward- looking information within the meaning of applicable securities laws. The forward-looking information
Slide 19: fqml.com
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