OUR APPROACH | Climax Molybdenum - A Freeport-McMoRan Company

As the world’s largest integrated producer of molybednum, Freeport-McMoRan’s role in supplying responsibly produced molybednum to support global decarbonization and sustainability is crucial and we are committed to doing our part, both within our own operational boundaries and beyond. Freeport is committed to meeting growing demand through our sustainability strategy – Accelerate the Future, Responsibly. Our strategy recognizes the vital role we play in global progress — including decarbonization — and our dedication to continuously advance the responsible production of our products.

Climax Molybdenum has developed a Responsible Care® Policy as part of our commitment to the Principles of Responsible Care® and to product safety, process safety, environmental stewardship, health, safety, and security at our global operations. We work together with our customers and other stakeholders to develop solutions in support of our common sustainability goals.

Our Strategy

Our sustainability strategy is designed to achieve enduring progress and is comprised of four components, which we outline in greater detail below:

OUR BELIEFS
The ideologies that shape our focus and drive action against our most important priorities.

OUR SUSTAINABILITY PILLARS
The three priority focus areas that help build a more sustainable future for our business and stakeholders.

OUR CRITICAL ENABLERS
The capabilities that support our pillars and create the momentum needed to continuously evolve and deliver on our commitments now and in the future.

OUR VALUES
The bedrock of our culture and the foundation upon which all our commitments, including our ESG efforts, are built.

OUR BELIEFS

Increased global demand for copper should be met responsibly.
The challenges of tomorrow demand innovation.
Rising ESG expectations are an opportunity to create greater value.
Resilience and adaptability are essential characteristics and priorities for any organization striving to achieve enduring ESG progress.
Transparency and accountability are crucial to building and maintaining trust.

OUR SUSTAINABILITY PILLARS
Our strategy also seeks to create greater clarity on the outcomes we are working to achieve across our three sustainability pillars:

OUR CRITICAL ENABLERS

We seek to deliver our sustainability strategy through four critical enablers:

Healthy, Engaged Workforce: Empower our people to deliver a sustainable and innovative mining future.
Operational Excellence: Set the standard for responsible copper and molybdenum production.
Collaborative Partnerships: Earn and maintain trust with communities and stakeholders.
Responsible Value Chains: Responsibly deliver our products to the global economy.

OUR VALUES

Our culture is the bedrock of Freeport’s sustainability strategy, aligning our core company values to our work. Our core values direct the decisions we make as a company and as individual employees. These values represent who we are and how we work — everyone, everywhere, every day.

Safety
We put safety first — for ourselves, our co-workers and our communities — by actively promoting safe practices and health and wellness. No job is so important and no schedule so urgent that time cannot be taken to plan and perform work in a safe manner.
Respect
We treat each other and our stakeholders with respect. We value the diversity, ideas, perspectives and experiences of our employees and our stakeholders.
Integrity
We are honest, transparent and responsible, and we do what we say we will do.
Excellence
We pursue excellence in our work by taking pride in what we do and always doing our best. We collaborate to create and implement innovative ideas and to develop solutions to issues and concerns.
Commitment
We are committed to contributing to the long-term sustainability of the environment and communities where we work. We hold ourselves accountable for our environmental and social performance.

Climax Molybdenum Company, a subsidiary of Freeport-McMoRan, sustainability programs are consistent with commitments set forth in company-wide policies defined by Freeport-McMoRan. To learn more, please see our website: fcx/sustainability or 2023 ANNUAL REPORT ON SUSTAINABILITY

Our Strategy in Action: Responsible Production

Consistently executing our sustainability strategy means integrating sustainability into everything we do and enhancing our focus on responsible production. We are proud to play a leading role in setting the industry benchmark for responsible copper production by collaborating with stakeholders to innovate and drive change. Defining and implementing responsible production at Freeport is an iterative process with continuous improvement at its core. We aim to drive responsible production practices throughout our operations by identifying the commitments and the corresponding responsible production frameworks that we believe will move the industry forward and help to meaningfully advance our operations and supply chains. These commitments include our strategic focus areas and related ambitions and performance targets.

We then integrate these commitments, policies and practices into our risk register process, which drives our actions. Regular measurement and reporting support our understanding of our current performance, including any gaps, and the actions we need to take to improve. Third-party validation of the implementation of our commitments at our operating sites and at the corporate level provides validation of our actions. At the foundation of this iterative process is robust governance, which is critical to embedding responsible production across the business.

PHOTO DESCRIPTION: (top) Our molybdenum operations in Colorado have been recognized multiple times by the Colorado Mining Association for their responsible practices in reclamation and environmental stewardship.