Freeport McMoRan : 2024 Voluntary Principles Report to the Plenary (vol principle 2024)

Published: 2025-06-27 18:32:05 ET FCX

Published on 06/27/2025 at 18:32

June 2025

Table of Contents

Commitment to the Voluntary Principles 2

Public Statement of Commitment or Endorsement of the Voluntary Principles, Engagement in the Voluntary Principles Initiative and Transparency 2

Examples of Promoting Awareness of the Voluntary Principles Throughout Our Organization, Including Within the Value Chain 3

Examples of Promoting and Advancing Implementation of the Voluntary Principles Internationally 4

Policies, Procedures and Related Activities 4

Relevant Policies, Procedures and Guidelines to Implement the Voluntary Principles 4

Company Procedure to Conduct Security and Human Rights Risk Assessments, and Integrate Findings 5

Company Mechanism to Report Security-Related Incidents with Human Rights Implications by Public/Private Security Forces Relating to the Company's Activities 7

Company Procedure to Consider the Voluntary Principles in Entering into Relations with Private Security Providers 7

Company Mechanism to Investigate and Remediate Security-Related Incidents with Human Rights Implications by Public/Private Security Forces Relating to the Company's Activities 8

Indonesia 8

Peru 15

Other Country-level Updates 18

Freeport-McMoRan Inc. (we, us, FCX or the Company) is dedicated to the recognition and respect of human rights wherever we do business. We are a leading international metals company with the objective of being foremost in copper. Headquartered in Phoenix, Arizona, we operate large, long-lived, geographically diverse assets with significant proven and probable mineral reserves of copper, gold and molybdenum. Our portfolio of assets includes PT Freeport Indonesia's (PTFI) Grasberg minerals district in Indonesia (PTFI Grasberg), one of the world's largest copper and gold deposits; and significant operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru.

Respect is a core value that guides how we do business. We respect the rights of all individuals, including employees, contractors, business partners, host communities, Indigenous Peoples and others who may be impacted by our business activities. We take this obligation seriously in all aspects of our business, and we expect the same of our business partners. FCX's Human Rights Policy states our commitments to respecting internationally recognized human rights standards, including the rights under the International Bill of Human Rights, and to implementing both the United Nations Guiding Principles on Business and Human Rights (UNGPs) and the Voluntary Principles on Security and Human Rights (Voluntary Principles).

The Voluntary Principles serve as a key component of our broader human rights program. Not all human rights issues are security issues, and not all security issues are human rights issues; it is at the nexus of human rights and security where our implementation of the Voluntary Principles resides.

This report summarizes our human rights program, including implementation activities, events and incidents that occurred during 2024, unless otherwise noted. Country-level implementation details are provided for Indonesia and Peru, as these countries represent our higher risk operating environments in terms of security and human rights. Other relevant country-level updates are also included.

FCX was a founding member of the Voluntary Principles Initiative (VPI) and has been an active participant since its inception. In 2000, FCX joined other extractive companies, governments and human rights organizations in endorsing the joint U.S. Department of State-British Foreign Office Voluntary Principles. Since that time, we have worked closely with our affiliate operations to assist in the implementation of the Voluntary Principles. The Voluntary Principles are an important cornerstone of our human rights and security program, providing guidance for our operations as well as a mechanism to drive engagement and promote awareness of and respect for human rights within our workforce and with our business partners, government and community partners. Our endorsement of the Voluntary Principles is set forth within our Annual Reports on Sustainability and annual Voluntary Principles Reports to the Plenary located on our website as part of our broader sustainability reporting. We are

committed to engaging with fellow Voluntary Principles members and observers to facilitate greater understanding of our Voluntary Principles implementation.

We have incorporated our commitment to the Voluntary Principles into our Human Rights Policy as well as our Principles of Business Conduct (PBC). Our Human Rights Policy and PBC apply to all of our employees and our Board of Directors (Board). We expect our business partners, including suppliers, contractors, customers and recipients of charitable giving, to uphold and abide by the same standards, which are reflected in our Business Partner Code of Conduct (BPCC).

In 2024, FCX participated in country-level Voluntary Principles activities in Indonesia, Peru and Chile (please see country implementation reports in Part C). At the VPI-level, we attended the 2024 Voluntary Principles Plenary in Washington, D.C. Throughout the year, we attended Corporate Pillar and Secretariat meetings and verification presentations.

Annually, we publish our sustainability performance, including our human rights performance, on our website and follow established voluntary sustainability reporting standards. FCX's 2024 Annual Report on Sustainabilitywas prepared in reference to the GRI Sustainability Report Standards (2021) and GRI 14: Mining Sector 2024, as well as in alignment with the International Financial Reporting Standards Foundation's SASB Standards for the Metals & Mining industry (2023). Our annual reports on sustainability have been independently verified since 2005. Limited third-party assurance of our 2024 Annual Report on Sustainability was obtained from an independent public accounting firm, and the assurance statement is located on pages 106 to 107 of our 2024 Annual Report on Sustainability.

The Copper Mark requires an independent external assurance process, including workforce and external stakeholder interviews, to assess conformance at each site, including implementation of the Voluntary Principles. Awarded sites are required to be revalidated by the Copper Mark every three years and communicate routinely with the organization on action plans to meet any "partially meets" criteria. FCX has achieved, and is committed to maintaining, the Copper Mark and Molybdenum Mark at all of its operating sites globally, as applicable. We leverage this process to implement the Corporate Pillar Verification Framework, which entails having a process to verify that we are meeting our responsibilities as a VPI member. Our Voluntary Principles report is also reviewed by an independent public accounting firm for consistency with our annual sustainability report assurance process.

FCX has incorporated standard language on human rights into corporate contract templates with business partners. Business partners receive, and are expected to perform in accordance with, our BPCC and Human Rights Policy.

Training is a core component of our approach to embedding respect for human rights across our business and promoting awareness of the Voluntary Principles. For more information on global training initiatives, please see Part B.4.

For other examples of how we promote awareness of the Voluntary Principles at the country level, including with host governments and authorities, please see the country implementation reports in Part C.

We seek to proactively engage with financial and other stakeholders on security and human rights issues, including our implementation of the Voluntary Principles, and we also frequently engage stakeholders at their request. We continue to participate in BSR's human rights working group, which provides a forum for gaining insight from companies across multiple industrial sectors on methods for integration of the UNGPs into our business practices. We also participate in and engage with the Corporate Human Rights Benchmark, which assesses our performance related to a set of human rights indicators based on publicly available information, including our participation in the VPI and implementation of the Voluntary Principles.

For other examples of how we promote awareness and advance implementation of the Voluntary Principles at the country level, please see the country implementation reports in Part C.

Our commitment to respect human rights is supported by our various policies, including the following:

Policy Intent

Highlights our core values - Safety, Respect, Integrity, Excellence and Commitment - and provides guidance for the application of these values to our business, from top-level management to entry-level employees. Sets forth the global principles that our workforce must follow in all activities, including the Voluntary Principles.

Outlines our expectations for our business partners, including private security contractors, to meet our ethical business conduct standards, including our Human Rights Policy.

Calls for collaboration with project-affected communities, including Indigenous Peoples and vulnerable populations, and outlines our commitment to mitigating and remedying adverse impacts we may cause.

Governance. At the Board level, the Corporate Responsibility Committee provides oversight of our human rights program by periodically receiving reports on relevant human rights strategy updates, Human Rights Impact Assessment (HRIA) results and actions, and significant incidents. At the management level, the Sustainability Leadership Team provides oversight of our human rights workplan, with the program directed and managed by our corporate and site-level sustainability teams. Our cross-functional human rights working group, co-led by our regional human rights managers, is focused on driving our strategy globally and supporting site-level implementation of the UNGPs and integration of human rights considerations across our business.

Our corporate and site-level human rights and sustainability teams collaborate across our operations on an ongoing basis, working to educate and inform the business of human rights risks and mitigation strategies. In 2024, our global human rights team held regular meetings with operating sites located in areas with higher human rights risks to discuss and address complex issues, enabling our operations to adapt quickly and keep respect for human rights at the forefront. FCX has established Human Rights Compliance Officer (HRCO) roles at PTFI Grasberg and Cerro Verde where the operating environments are higher risk in terms of security and human rights, as well as at El Abra. HRCOs lead training for security personnel (both employees and contractors) and host government security forces (as applicable) on human rights and the Voluntary Principles.

Training and Promotion. We conduct comprehensive training on FCX's employee code of conduct, the PBC, which incorporates our commitment to the Voluntary Principles and links to our Human Rights Policy. All new employees receive training as part of the onboarding process, and refresher training on the PBC is provided annually. We aim to promote awareness of our Human Rights Policy and the Voluntary Principles through a variety of mechanisms, including annual training in classrooms and online training classes, distribution of pamphlets and other media for managers, and periodic training for non-managers on a rotating basis.

We developed and launched a new global human rights training module for use across FCX, at both the corporate and operational level. The training module is available in English, with Indonesian and Spanish versions to be completed later in 2025. The focus of the training is on company and employee responsibilities when it comes to the promotion of and respect for human rights, including modern slavery, workplace health and safety, discrimination and harassment, grievance management, and security and human rights, within the context of our operations.

For more information on training implementation at the country level, please see the country implementation reports in Part C.

Human Rights Impact Assessments. HRIAs, conducted by third-party consultants using methodologies aligned with the UNGPs, are our primary method for conducting human rights due diligence at our active operations. These assessments involve direct input from a broad cross-section of internal and

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Freeport-McMoRan Inc. published this content on June 27, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 27, 2025 at 22:31 UTC.