Minera Panamá’s press release in response to false accusations in social networks

Minera Panama and First Quantum Minerals (“FQM”, the “Company”) have a zero tolerance policy towards corruption in all its forms. The Company has operated successfully in multiple jurisdictions for over 25 years and has always conformed to the highest ethical standards and international best practices in its business conduct and its respect for local and national laws. In addition, as a Canadian company, FQM is strictly subject to Canada’s strong anti-bribery and corruption laws. These laws have extraterritorial reach and prohibit irregular payments to foreign officials anywhere in the world, and in many circumstances, make such payments criminal offences.

The Company is aware of comments made by certain individuals on social media containing allegations relating to FQM’s time spent in the Democratic Republic of Congo (DRC). These allegations are demonstrably fictitious and totally contrary to the period of FQM’s history which is amply documented.

Public records irrefutably show that the Company has been (and continues to be) against any form of corruption. In retaliation, the DRC government attempted to renegotiate the Company’s contract and shut down its operations before seizing them. FQM was vindicated and subsequently received a $1.25 billion legal arbitration settlement in connection with this case. In addition, other parties unrelated to the Company and accused of corruption in connection with the case admitted their guilt in investigations conducted by U.S. and U.K. authorities, with the Company cooperating in those investigations as an injured party.

Panama, November 6, 2023