Freeport-McMoRan Community

Risks Dividend history is unstable Stock underperformed vs. industry and market in the past year Highly cyclical business – earnings depend heavily on commodity prices Catalysts Global demand for copper , especially from EVs, AI, and green infrastructure Grasberg mine in Indonesia and large-scale U.S. operations (e.g., Morenci, Bagdad) U.S. legislation may classify copper as a "critical mineral" , possibly introducing 10% tax credit Assumptions Where do you think revenue will be in 5 years time?

Key Takeaways Scaling leach operations and completing the PT-FI smelter are pivotal for boosting revenue and improving operational efficiency by 2025. Demand growth from electrification trends and cost-saving via automation should enhance revenue and net margins significantly.

Key Takeaways Scaling leach opportunities and PT-FI smelter recovery are expected to boost revenue and stabilize long-term growth with low costs. Investment in U.S. technologies and global exploration aims to optimize costs and maintain high production rates, enhancing margins and cash flow.

Key Takeaways Technological and automation advances in U.S. operations may lead to cost savings and higher net margins. Strategic expansions and classification as a critical mineral could boost copper production, ensuring revenue growth and stability.