Freeport McMoRan : 2025 U.K. Modern Slavery Act Statement (UK Modern Slavery Act Statement 2025)

Published: 2026-05-07 13:48:12 ET FCX

Published on 05/07/2026 at 01:48 pm EDT

2025 U.K. Modern Slavery Act Statement

Freeport-McMoRan Inc. (FCX) is a leading international metals company dedicated to the recognition, respect and promotion of human rights wherever we do business. FCX is opposed to all forms of modern slavery and is committed to working to mitigate the risk of its occurrence in our operations and supply chains.

Our 2025 U.K. Modern Slavery Act Statement (the statement) was prepared to meet the requirements of the United Kingdom's (U.K.) Modern Slavery Act 2015. The Act requires organizations with business in the U.K. totaling £36 million or more of annual turnover to produce an annual slavery and human trafficking statement. This statement covers the activities of FCX globally, including our molybdenum conversion plant located in Stowmarket, U.K.

The statement, which has been approved by FCX's Corporate Responsibility Committee of the Board of Directors (the Board), outlines our efforts in 2025 to minimize the risk of modern slavery throughout our business and supply chain. For purposes of the statement, we use the U.K. government's definition of

"modern slavery," which includes slavery, servitude, forced and compulsory labor and human trafficking. This statement should be read in conjunction with our policies and other public disclosures.

Organization Structure, Business and Supply Chain

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FCX is a leading international metals company with the objective of being foremost in copper. Headquartered in Phoenix, Arizona, FCX operates large, long-lived, geographically diverse assets with significant proven and probable mineral reserves of copper, gold and molybdenum. FCX's portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world's largest copper and gold deposits; and significant operations in the U.S. and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru. As of December 31, 2025, FCX had approximately 29,000 employees. FCX also had contractors that employed approximately 65,500 personnel across many of our operations at various times throughout 2025.

FCX manages strategic and high-profile commodities and services on a global, regional and local basis. Key categories of suppliers include goods and services, including on-site contractors and commodities, and minerals and metals purchased or tolled from third-party sources for further processing.

2025 PROCUREMENT SPEND BY INDUSTRY

8%

5%

22%

5%

7%

8%

20%

11%

14%

In 2025, FCX conducted business with approximately 11,100 of its approximately 23,500 registered suppliers. Many suppliers are not utilized every year but remain registered in our system.

Our operations have significant direct and indirect economic impacts when we purchase goods and services locally. Refer to our 2025 Annual Report on Sustainability for our procurement spend by site.

Governance

We are committed to embedding human rights considerations into decision making across our company and into our policy and governance framework. Governance and oversight of sustainability-related matters, including human rights, ultimately resides with the Board, with day-to-day oversight by FCX's executive leadership and site-level management teams.

The Corporate Responsibility Committee, on behalf of the Board, oversees FCX's key environmental and social policies and implementation programs and related risks, opportunities and other related matters affecting FCX's business. This includes:

Receiving updates on FCX's human rights program, policy and performance, including human rights impact assessments (HRIAs),

Receiving updates on our responsible sourcing of minerals and metals, and

Reviewing the effectiveness of FCX's strategies, programs and policy implementation with respect to human rights and responsible sourcing.

At the management level, our cross-functional Sustainability Leadership Team provides oversight of human rights. Our global sustainability team, including our global human rights team, focuses on identifying and mitigating human rights risks such as modern slavery. We also have human rights compliance officers in Indonesia and Peru, which are higher-risk operating environments.

Our global supply chain (GSC) sustainability team focuses on the responsible sourcing of goods and services by working to align procurement decisions with our Business Partner Code of Conduct. They engage with the broader corporate and site-level GSC teams and suppliers to identify and mitigate risks, conduct due diligence and monitoring, and, where appropriate, provide capacity building. The global sustainability team and legal counsel provide subject matter expertise and collaborate with the GSC sustainability team on human rights-related topics.

Policies

Respect for human rights is a long-standing commitment of FCX and is expressed in our global policies.

Policy Intent

Human Rights Outlines our dedication to the recognition and respect of human rights for all individuals who may be impacted by our business activities and prohibits the use of any form of forced or compulsory labor, child labor, prison labor and human trafficking. Includes our commitments to conduct human rights due diligence in our value chain and to provide fair treatment and work conditions. Applies to all FCX projects and operations, from exploration to closure.

Principles of Business Conduct

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.

Business Partner Code Outlines our expectations for our business partners to meet our ethical business conduct

of

Responsible Sourcing of

standards, including our Human Rights Policy, and sets the foundation of our responsible sourcing programs globally. Includes our expectation that business partners prohibit forced, compulsory or child labor and human trafficking.

Outlines our commitment to producing and sourcing minerals and metals responsibly, including respecting human rights; preventing bribery, fraud and corruption; and implementing the Organisation for Economic Co-operation and Development Guidance for Responsible Mineral Supply Chains in Conflict-Affected and High-Risk Areas (OECD Guidance).

Human rights standards are built into the terms and conditions of our business partner contracts. Our business partners receive and are expected to read, understand and follow the Business Partner Code of Conduct. Our tools for suppliers webpage includes resources to help suppliers understand our sustainability standards and initiatives, including the UN Guiding Principles (UNGPs) and the OECD Guidance.

These policies and supporting management systems, along with relevant external standards, form the overall framework that guides our sustainability programs and management of human rights risks.

Due Diligence and Risk Assessment

Risk Register Processes

We translate our responsible production commitments into everyday work through our sustainability risk register, which identifies, prioritizes, manages and tracks sustainability risks and actions, including those related to modern slavery (e.g., child labor, forced and compulsory labor). All our sites review their operational risk profiles at least annually and prepare detailed action plans for risks rated as actionable. Sites use the sustainability risk register to identify risks and opportunities in relation to their operation and stakeholders.

We also use our Project Development Sustainability Review (PDSR) process to consider sustainability issues, including those related to modern slavery (particularly linked to construction activities and onsite contractors), during the study of potential mine expansion and development projects. The PDSR process enables us to proactively identify, prioritize and manage potential risks throughout the development stages prior to beginning construction.

Refer to our 2025 Annual Report on Sustainability for more information on our risk register processes.

Human Rights Impact Assessments (HRIAs)

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 external rights-holders and their representatives, including a sampling of employees, on-site contractors, local suppliers and community members. The process supports continuous improvement of our management systems by testing their effectiveness in identifying and addressing potential, actual and perceived human rights risks and impacts, including those related to modern slavery. Where findings identify actual or potential gaps in human rights-related management systems and processes, site- and/or corporate-level actions are taken to drive continuous improvement. This may include establishing new measures to further investigate, prevent and/or remedy human rights risks and impacts.

In 2025, we completed HRIAs at PT Freeport Indonesia's (PTFI) smelter and precious metals refinery (collectively, PTFI's downstream processing facilities) in Indonesia, as well as at our Climax and Henderson operations in Colorado. No allegations of forced labor, child labor or other forms of modern slavery were identified as part of the HRIAs.

Refer to the Human Rights section of our website for information on our HRIA methodology and recent assessment summaries.

Responsible Sourcing

We use a combination of tools to understand and monitor supplier risk and to encourage compliance with our Business Partner Code of Conduct.

We use an online due diligence platform, the Freeport Compliance eXchange (FCeX), to distribute a compliance questionnaire addressing anti-corruption, human rights, and health and safety risks, among others, to our business partners. FCeX enhances our ability to communicate relevant FCX policies, as well as to screen suppliers' internal policies. It also includes a comprehensive sanctions screening for the supplier and associated third parties.

FCeX surveys are administered to new vendors and customers as an initial step in our value chain due diligence. Suppliers assessed in FCeX as low risk are reevaluated every three years, while higher-risk suppliers are reevaluated

annually. Where risk is identified, including for modern slavery, additional, targeted due diligence is conducted. During 2025, we did not identify specific modern slavery risks with any of our existing or new suppliers of goods and services through the process described above.

We aim to identify and assess industry and location-based risks, confirm whether they are present in our supply chain and build capacity, as necessary. Through our risk prioritization framework, in 2025, we focused on three high-risk industries (construction materials, engineering and construction services, and metals and mining) to identify suppliers that require enhanced due diligence and engagement. The review of those suppliers' externally facing documentation determined that 84% maintain sufficient policies and processes to mitigate perceived risk. Additional engagement was initiated with nine suppliers, typically consisting of additional documentation requests and targeted discussions with FCX's supply chain team.

SAP Ariba Supplier Risk Management and Supplier Lifecycle and Performance tools consolidate data from external sources (including relevant Verisk Maplecroft country- and industry-level sustainability risk indices) and help us monitor supplier risk on an ongoing basis. In 2025, of the approximately 11,100 suppliers FCX conducted business with, 21 suppliers were based in extreme-risk countries for modern slavery as defined by Verisk Maplecroft's country-level Modern Slavery Index.1 These suppliers provided construction materials, equipment and spare parts for PTFI's downstream processing facilities, roasted molybdenum concentrate for a customer and equipment for other FCX projects with total spend accounting for less than 1% of our total spend in 2025.

Each FCX operating site also defines a list of suppliers that are critical to the operation and/or pose significant sustainability-related risk. These lists are reviewed annually. The GSC sustainability team conducts a desktop review of the identified suppliers to assess their policies and procedures against our Business Partner Code of Conduct. If there are gaps, we work with suppliers to raise awareness of policy expectations.

We continue to improve our systems and processes related to due diligence, risk monitoring and in-depth assessments to allow for quicker access to supplier data and information, as well as streamlined

‌1 Verisk Maplecroft's country-level Modern Slavery Index indicates the risk to a business of possible association with or exposure to practices of slavery, servitude, trafficking of persons and forced labor within its supply chain.

risk identification. In 2025, we initiated a multi-year assessment of potential sustainability-related risks within our extended supply chain, focusing on Tier 2 (those that are our supplier's suppliers or companies that subcontract to FCX's direct suppliers/contractors) and Tier 3 suppliers (those that are the suppliers or subcontractors of FCX's Tier 2 suppliers) and launched a pilot using a third-party platform to analyze downstream networks for approximately 400 Tier 1 suppliers. Updates on the assessment are provided in our Annual Reports on Sustainability.

Responsible Sourcing of Minerals & Metals

In addition to the responsible sourcing process outlined above, we maintain a specialized process for tolling partners and suppliers of minerals and metals. We implement a source review process that guides our analysis from risk identification through mitigation. This process includes a risk screening step, where we assess our incoming metal and mineral supply chains to identify potential "flags" associated with the risks specified in Annex II of the OECD Guidance, including any forms of forced or compulsory labor.

When a "flag" is raised, we undertake an enhanced due diligence and risk assessment process to help us better understand the potential impact of the identified risk. An internal committee reviews the results and assigns a risk level and path forward, which may include implementing risk mitigation actions or a formal risk management plan, depending on the severity of the issue, in collaboration with the supplier.

In 2025, we continued implementation of the OECD Guidance's five-step framework across all of our operations including: copper smelting, refining and semi-fabrication; ferromolybdenum production; molybdenum roasting; and precious metals refining. Risk mitigation efforts included receiving updates from our suppliers on the steps they were taking to address identified risks and continuing to monitor allegations through periodic desktop research and reviews of local media sources. For certain suppliers, we also limited our agreements to smaller spot contracts to maintain purchasing flexibility.

For more information on due diligence in our supply chain, refer to the Responsible Value Chains section of our 2025 Annual Report on Sustainability.

Training

Regular training is a core component of embedding respect for human rights across our business. We conduct comprehensive annual training on our PBC for our employees. In 2025, we continued to implement a global human rights training module across FCX at both the corporate and operational levels. The focal point of the training is on company and employee responsibilities when it comes to the promotion of and respect for human rights, including modern slavery and grievance management within the context of our operations. It is available in English, Indonesian and Spanish.

Training specific to our responsible sourcing of minerals program is provided to relevant employees at all FCX operating sites. The content of the training varies and is based on whether the site is located in what is considered a Conflict-Affected or High-Risk Area and the extent to which the site externally sources minerals or metals.

On-site contractors participate in an onboarding process that includes a review of company policies and procedures. In addition, operating sites in higher-risk operating environments also provide targeted training on human rights and our Business Partner Code of Conduct.

Please refer to the Business Conduct and Human Rights sections of our 2025 Annual Report on Sustainability and our most recent Voluntary Principles Report to the Plenary for more information on human rights-related training.

Access to Remedy - Grievance Mechanisms

While we seek to avoid causing and contributing to adverse impacts on people and communities, we acknowledge they may occur. Our Human Rights Policy outlines our commitment to providing for, or cooperating in, remediation when our activities cause or contribute to adverse human rights impacts.

We maintain grievance mechanisms for employees, community members, members of our supply chain and others to report potential human rights concerns. These mechanisms support our commitment to remedy by helping us address concerns early and remediate impacts directly.

Please refer to the Business Conduct, Human Rights, and Communities and Indigenous Peoples sections of our 2025 Annual Report on Sustainability for more information on our grievance mechanisms.

Tracking Effectiveness

Our grievance mechanisms also allow us to track and assess our effectiveness. In 2025, we did not receive any grievances regarding modern slavery. In addition, our site-level HRIAs help us apply a human rights lens to our established management systems and review their effectiveness in identifying, mitigating and remediating human rights risks and impacts.

Our management systems for modern slavery-related risks are assured at least once every three years by a third party at both the corporate and site levels, as required by our International Council on Mining & Metals, Copper Mark and Molybdenum Mark commitments. FCX has achieved, and is committed to maintaining, the Copper Mark and Molybdenum Mark, as applicable, at all of our operating sites globally. PTFI's downstream processing facilities are currently working toward their initial Copper Mark validation.

We have an established performance target to incur zero gross human rights violations at our operations by employees or contractors. No such violations were recorded or reported in 2025.

We are committed to continuing our work to respect human rights, including taking steps to prevent modern slavery from occurring in our business and supply chain.

This statement was approved on May 4, 2026 by FCX's Corporate Responsibility Committee of the Board of Directors.

Kathleen L. Quirk

President and Chief Executive Officer Freeport-McMoRan Inc.

Cautionary Statement

This document contains forward-looking statements. Forward-looking statements are all statements other than statements of historical facts. The words "anticipates," "may," "can," "plans," "pursues," "believes," "efforts," "estimates," "expects," "endeavors," "initiatives," "seeks," "goals," "predicts,"

"strategy," "objective," "opportunities," "projects," "targets," "intends," "aspirations," "likely," "will," "should," "could," "to be," "potential," "assumptions," "guidance," "forecasts," "future," "commitments," "initiatives" and any similar expressions are intended to identify those assertions as forward-looking statements. Goals and targets and expected timing to achieve goals and targets are subject to change without notice due to a number of factors. We caution readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, expected, projected or assumed in the forward-looking statements. Important factors that can cause our actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, the factors described under the heading "Risk Factors" in our Annual Report on Form 10-K for the year-ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (SEC), as updated by our subsequent filings with the SEC, and available on our website at fcx.com. Many of the assumptions upon which our forward-looking statements are based are likely to change after the forward-looking statements are made. Further, we may make changes to our business plans that could affect our results. We undertake no obligation to update any forward-looking statements, which speak only as of the date made, notwithstanding any changes in our assumptions, changes in business plans, actual experience or other changes. We also include references to third-party websites throughout this report, which are provided for convenience only and are not incorporated into this report. We expressly disclaim any responsibility for, or liability in respect of, the content on such referenced websites, including information connected thereto.

Disclaimer

Freeport-McMoRan Inc. published this content on May 07, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 07, 2026 at 17:47 UTC.