First Quantum Minerals Ltd. · TSX:FM
First Quantum Minerals — J.P. Morgan Back to School Series 2026
14 slides from First Quantum Minerals's conference presentation, Sep 8, 2026
Slide 1: J.P. Morgan Back to School Series
J.P. MORGAN BACK TO SCHOOL SERIES September 8, 2026 TSX FM
Slide 2: Copper-Focused Producer
Toronto | CANADA London | UK COPPER-FOCUSED Operating Mines PRODUCER Greenfield Projects GUELB MOGHREIN | Cu Au | MAURITANIA First Quantum Offices COBRE PANAMÁ | Cu Au | PANAMA (Preservation & Safe Management) 2025 Revenue LA GRANJA | Cu | PERU by Commodity1 KANSANSHI | Cu Au | ZAMBIA SENTINEL | Cu
Slide 3: 2026 Priorities
2026 PRIORITIES Advance Continued Safe Cobre Panamá and Productive to Resolution Operational Performance Strengthening the Advance Balance Sheet for Greenfield Future Growth Projects 3
Slide 4: The Right Assets
KANSANSHI SENTINEL COBRE PANAMÁ Solwezi, Zambia Kalumbila, Zambia Colón Province, Panama THE RIGHT ASSETS FQM Zambia Top 10 global copper complex1 with vertically integrated production ♦ 80% ownership2 (20% ZCCM-IH) ♦ 100% ownership ♦ 91% ownership (9% KOMIR4) ♦ Open-pit (Cu, Au) ♦ Open-pit (Cu) ♦ O
Slide 5: Environmental Audit Result
Legal, Labour & Tax Environmental 88.23% 87.64% ENVIRONMENTAL AUDIT RESULT ♦ Legal compliance – 91.30% ♦ Environmental audit and commitments derived from the EIA1 – 87.18% ♦ Tax compliance – 85.73% ♦ Audit of main ESG aspects – 89.00% ♦ Tax payment analysis – 87.40% SGS Audit on Cobre Panamá ♦ Produ
Slide 6: Track Record of Project Delivery
OPEN-PIT COPPER PROJECTS BUILT SINCE 2005 TRACK RECORD OF PROJECT DELIVERY Sentinel CP100 Kansanshi (55 Mtpa) Expansion Cobre Cobre Panamá, (12 Mtpa) (15 Mtpa) Panamá including port and Frontier (85 Mtpa) power plant In-house projects team completed (8 Mtpa) >$13B in projects, typically within Kevit
Slide 7: 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 ♦ Two of the largest undeveloped El Pachon projects globally1 sit within the First Quantum portfolio Twin Metals Tampakan ♦ Taca Taca
Slide 8: Taca Taca
♦ Porphyry copper-gold-moly deposit ♦ 3,500m elevation ~230 km west of city of Salta, 55 km east of the Chilean border ♦ Defined access to water, power, rail, port TACA TACA ♦ Located in an area with limited Salta Province, Argentina environmental sensitivities ♦ No local communities living within o
Slide 9: La Granja
♦ Located on the eastern flank of the Western Cordillera of the Andes; Situated at moderate elevations of between 2,000 metres and 2,800 metres above sea level ♦ Second largest greenfield project based on contained LA GRANJA copper1 Cajamarca, Peru ♦ Two principal mineralized centres at Paja Blanca
Slide 10: Doing Business the Right Way
PRIORITIZING TANGIBLE STEPS TO SOCIAL RESPONSIBILITY REDUCE EMISSIONS DOING BUSINESS Community relationships based on transparency, respect, and trust ~14 kms Electric trolley-assist lines in Zambia THE RIGHT WAY $37 million 400+ Learners supported >130,000 tonnes CO2e saved annually through pit el
Slide 11: Balance Sheet
DECISIVE ACTIONS TO STRENGTHEN BALANCE SHEET BALANCE SHEET 2019 2024-2026 First production at Cobre Panamá ♦ Refinancing of bank facilities, notes offerings, bought deal equity 2022 issuance Kansanshi S3 Expansion and Enterprise nickel project sanctioned ♦ Copper & gold hedge program TOP PRIORITIES
Slide 12: Why First Quantum?
WHY FIRST QUANTUM? WORLD-CLASS PROVEN GREENFIELD ASSETS SELF-BUILD TEAM OPTIONALITY Top global copper In-house team with a track Two of the largest producer with a focus on record of building and greenfield projects operational excellence delivering large and globally1 reside within the complex proj
Slide 13: 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 14: fqml.com
TSX FM info@fqml.com 416-361-6400 | 1-888-688-6577 fqml.com
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