Freeport-McMoRan Inc. announced that it has amended its previously announced tender offers to increase the aggregate purchase price from $800 million to $1.1 billion (such amount, subject to further increase, decrease or elimination, the Aggregate Maximum Tender Cap) that it may use to purchase a portion of its outstanding 4.00% Senior Notes due 2021, 3.55% Senior Notes due 2022, 3.875% Senior Notes due 2023 and 4.55% Senior Notes due 2024 (collectively, the Notes), upon the terms and conditions set forth in the Offer to Purchase, dated February 19, 2020. Holders of the Notes are urged to carefully read the Offer to Purchase, which sets forth a more detailed description of the tender offers, before making any decision with respect to the tender offers. No other terms of the previously announced tender offers have changed. The increase in the Aggregate Maximum Tender Cap reflects the increase in the size of FCX’s previously announced debt financing, which was increased to $1.3 billion from the previously announced $1.0 billion aggregate principal amount. The net proceeds from such debt financing and, if necessary, cash on hand or available liquidity, will be used to fund the tender offers. To the extent all of the 4.00% Senior Notes due 2021 are not tendered and purchased in the tender offers, FCX may, but is not obligated to, use a portion of any remaining net proceeds from such debt financing to redeem all or a portion of the remaining 4.00% Senior Notes due 2021 in accordance with the provisions of the indenture governing the 4.00% Senior Notes due 2021.