First Quantum Minerals announces a cash offer to acquire its $250 million worth of 9.375% senior secured second lien notes due in 2029.

First Quantum Minerals announces a cash offer to acquire its $250 million worth of 9.375% senior secured second lien notes due in 2029.

First Quantum Minerals Ltd. Announces Cash Tender Offer for Up to $250 Million of Senior Secured Notes

First Quantum Minerals Ltd. (FQML) has announced a cash tender offer to purchase up to $250 million of its outstanding 9.375% Senior Secured Second Lien Notes due 2029. The tender offer aims to repurchase these notes from holders in order to manage and potentially reduce its outstanding debt.

Key terms of the tender offer include:

• Maximum Tender Amount: Up to $250 million aggregate principal amount of the notes.
• Tender Consideration: Holders who tender notes and have them accepted will receive $1,016.25 per $1,000 principal amount, plus accrued and unpaid interest to the settlement date.
• Early Tender Premium: An additional premium of $50.00 per $1,000 principal amount is paid if notes are validly tendered and accepted before the Early Tender Time, making the total price for early tenderers $1,066.25 per $1,000 principal amount. The Early Tender Time is August 19, 2025.
• Expiration Date: The tender offer expires on September 3, 2025.
• Proration: If the tendered amount exceeds the $250 million maximum, acceptance of tenders will be prorated accordingly.
• Settlement: Notes accepted for purchase will be canceled upon completion, with early settlement expected on the second business day after the Early Tender Time and final settlement shortly after the expiration.

Institutional dealers involved in the tender offer include J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, BMO Capital Markets Corp., and Société Générale.

Investors are urged to seek their own investment and tax advisors before making any decisions about tendering their Notes. The offer is detailed in an offer to purchase dated the same day. For further information, please visit the company's website at www.first-quantum.com.

The consummation of the offer is subject to the satisfaction or waiver of certain conditions, including the pricing, closing, and settlement of the company's new notes on terms satisfactory to the company. The tender offer may be restricted by law in certain jurisdictions.

For media inquiries, please contact James Devas at 44 207 291 6630 or [email protected]. For investor relations, please contact Bonita To at (416) 361-6400, Toll-free: 1 (888) 688-6577, or email [email protected].

The Tender Offer is not a recommendation from the Company, Dealer Managers, or the Tender and Information agent. Readers should not place undue reliance on forward-looking statements or information as there may be other factors that cause actual results, performances, achievements, or events not to be anticipated, estimated, or intended.

[1] J.P. Morgan Securities LLC [2] Goldman Sachs & Co. LLC [3] BMO Capital Markets Corp. [4] Société Générale [5] Questions, requests for assistance, and requests for additional copies of the Offer to Purchase may be directed to the Tender and Information Agent or the Dealer Managers.

1. The tender offer by First Quantum Minerals Ltd. (FQML) involves seeking up to $250 million in its outstanding notes, which is part of its strategy for managing and potentially reducing its business debt within the industry.
2. FQML has announced a cash tender offer for its notes, inviting institutional dealers like J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, BMO Capital Markets Corp., and Société Générale, to participate in the finance aspect of this investing endeavor.

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