2025 ESG Report

Environmental, Social and Governance Report

GRI 2-22

Letter from the Chief Executive Officer

01 Introduction 1

Tragically, during the year we lost a colleague in a truck accident at our Trident operation in Zambia. I extend my deepest condolences to the family, colleagues, and community affected by this terrible loss. The health and

safety of our employees and contractors remains our highest priority. We are incorporating the learnings from this tragic incident across our operations as we seek to continuously improve our systems, implement critical controls and emphasise hands-on leadership

of safety.

Responsible tailings management is fundamental to our business.

We recognize the significance of the Global Industry Standard on Tailings Management (GISTM) as a globally recognized standard for our stakeholders.

First Quantum is committed to aligning all of our tailings storage facilities with the GISTM framework. Our current focus is to prepare detailed work plans at each of our high priority facilities in order to set the alignment timetable.

All our tailings storage facilities are expected to align with the GISTM by the end of 2030 through a risk-based approach that prioritizes higher-risk facilities for potential accelerated alignment. This commitment strengthens governance, independent technical oversight and life-cycle management across our operations.

Tailings management remains a core governance priority for the Board and an important focus of our engineering and operational teams. Our tailings storage facilities are designed to internationally recognized industry guidelines, and alignment with the GISTM complements this foundation by formalizing governance, independent technical review, accountability, and lifecycle management expectations across our facilities.

In Panama, we continued active engagement with communities across the country following the suspension of operations at Cobre Panama in late 2023. Recognizing the importance of open dialogue, we expanded Cobre Conecta, our nationwide outreach program designed to engage communities, educators, students, and civil society in conversations about responsible mining and environmental stewardship.

During 2025, the initiative engaged directly with more than 246,000 people through close to 1,400 events and activities across the country. Through in-person interactions and digital platforms, we provided accessible

information and a platform for people to ask questions about mining and its role in Panama.

Zambia remains central to First Quantum's long-term future, with 2026 marking our 30th anniversary operating in the country. In 2025, we were proud to achieve commercial production of the Kansanshi S3 Expansion, a major milestone for the operation.

S3 strengthens Kansanshi's long-term production and extends the life of the mine, supporting continued economic contribution to Zambia. The investment in S3 also creates opportunities beyond production, enabling employment of over 2,500 Zambians and involving some 535 local companies during its construction.

We continue to prioritize procurement from Zambian businesses wherever commercially feasible, as we seek to ensure that we maximize the value created by mining within the country.

In 2025, Kansanshi and Trident together spent more than $41 million per week with Zambian-registered suppliers, representing more than 80% of our supplier spend.

Through supplier development, skills transfer, and long-term partnerships, we continue to support the growth of local enterprises and contribute to sustainable economic development across Zambia.

Demand for copper and other critical minerals continues to grow as the world advances electrification, renewable energy systems, and the

modern digital infrastructure required for artificial intelligence. As a major copper producer, First Quantum plays an important role in supplying the metals required for this transition in a responsible manner.

Our approach to responsible mining integrates environmental stewardship, strong governance, and meaningful long-term community relationships across the lifecycle of our operations.

We strive to produce these essential materials safely, efficiently, and responsibly while supporting the long-term economic development of the countries where we operate.

This requires that we operate with transparency, discipline, and respect for the communities and environments in which we work.

At First Quantum, we remain committed to responsible mining that creates lasting value for our shareholders, employees, communities and host governments.

By maintaining strong partnerships and continuously seeking to improve our environmental,

social, and governance performance, we aim to contribute to a more

sustainable and resilient future.

Tristan Pascall

Chief Executive Officer May 2026

TRISTAN PASCALL

Chief Executive Officer

EM-MM-000.A, EM-MM-000.B

GRI 2-1

2025 Production

Copper 15kt, Gold 32koz

Secondary Gold

Secondary Gold, molybdenum

NORBEC

Province of Quebec, Canada

Primary Copper

Primary Copper

Ownership 100%

TACA TACA

Salta Province, Argentina

Ownership 100%

2025 Production

Copper 189kt, Nickel 23kt

GUELB MOGHREIN

Akjoujt, Mauritania

2025 Production

Copper 181kt, Gold 116koz

First Quantum at a glance - 2025

01 Introduction

GRI 201-1

Our global direct economic contribution in 2025

01 Introduction

$4 091 million

Our total global direct economic contribution in 2025

$1 067 million

Taxes, royalties and other payments to government

$564 million

Salaries and wages

$37 million

Community investment and social outreach

$2 425 million

Local procurement from nationally registered suppliers

Panama*

$242 million

Mauritania

$129 million

Zambia

Finland

$15 million

Spain

$41 million

Türkiye

$104 million

Peru**

$44 million

Argentina**

$21 million

Chile**

$3 million

$3 459 million

Australia

$34 million

* Cobre Panamá was placed in P&SM in November 2023. Cobre Panamá's total economic contribution in 2023 was $1 830 million.

** Argentina, Peru and Chile are exploration projects.