FCX: Material agreement · Termination of an agreement · New financial obligation

Item 1.01. Entry into a Material Definitive Agreement. On May 14, 2026, Freeport-McMoRan Inc. (FCX) and PT Freeport Indonesia (PTFI), a subsidiary of FCX, as borrowers, JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A., as syndication agent, and each of the lenders and issuing banks party thereto entered into a new revolving credit agreement (the New Revolving Credit Facility). The New Revolving Credit Facility replaced FCX’s prior $3.0 billion senior unsecured revolving credit facility, dated as of October 19, 2022 which was scheduled to mature in October 2027. The prior credit facility had a $500 million limit on PTFI’s borrowing capacity and provided a $1.5 billion sublimit on the issuance of letters of credit. At the time of termination, there were no borrowings outstanding and approximately $5 million in letters of credit issued under the prior revolving credit facility, which was rolled to the New Revolving Credit Facility. The New Revolving Credit Facility is substantially similar to the prior revolving credit facility and provides for a five-year, $3.0 billion senior unsecured revolving credit facility, with a $500 million limit on PTFI’s borrowing capacity, and a $1.5 billion sublimit on the issuance of letters of credit. The New Revolving Credit Facility matures on May 14, 2031. Interest on loans made under the New Revolving Credit Facility may, at the option of FCX or PTFI, be determined based on the Term Secured Overnight Financing Rate or the Alternate Base Rate (each as defined in the New Revolving Credit Facility), plus a spread to be determined by reference to a grid based on FCX’s credit ratings. Consistent with the prior revolving credit facility, the New Revolving Credit Facility contains various negative covenants that, among