Ms. Bonita To reports

FIRST QUANTUM MINERALS ANNOUNCES PRICING AND UPSIZING OF SENIOR NOTES OFFERING

First Quantum Minerals Ltd. has successfully completed the pricing of its offering of $1.5-billion aggregate principal amount of 6.375 per cent senior notes due 2036. The original offering amount of the notes of $1.35-billion has been increased to $1.5-billion. The issue price of the notes is 100.000 per cent. (All amounts are in U.S. dollars, except where noted otherwise.)

Interest on the notes will accrue from the issue date at a rate of 6.375 per cent per annum and will be payable semi-annually. Settlement is expected to take place on or about Feb. 26, 2026, subject to customary conditions precedent for similar transactions. The notes will be senior unsecured obligations of the company and will be guaranteed by certain of the company's subsidiaries.

The company intends to apply the gross proceeds from the sale of the notes, together with cash on balance sheet, to redeem in full its $1.35-billion aggregate principal amount outstanding of existing 9.375 per cent senior secured second-lien notes due 2029, to repay certain drawn revolving credit facility amounts, and to pay transaction fees, costs and expenses.

The company intends to issue a conditional notice of redemption to holders of its existing 9.375 per cent senior secured second-lien notes due 2029 under the terms of the indenture governing such notes in connection with the redemption. Any such notice will outline the terms applicable to such redemption, including the manner of determination for the redemption price (including make-whole premium payable), the expected date of calculation of such redemption price, the redemption date (which is currently anticipated to be on or around Feb. 26, 2026) and other relevant terms applicable to such redemption.

We seek Safe Harbor.