Freeport-McMoRan Inc. (FCX) Presents at Morgan Stanley's 14th Annual Laguna Conference Transcript

Freeport-McMoRan Inc. ( FCX ) Morgan Stanley's 14th Annual Laguna Conference September 16, 2026 2:30 PM EDT Company Participants Kathleen Quirk - CEO, President & Director Conference Call Participants Carlos de Alba - Morgan Stanley, Research Division Presentation Carlos de Alba Morgan Stanley, Research Division All right. Why don't we get started? Kathleen, probably most of you are familiar with Kathleen Quirk, the President and CEO of Freeport. Thank you for being here. We've done this for several years. It's always a pleasure to host you and have this conversation. So maybe why don't we start with some introductory comments, maybe something that you want the audience to take away for sure today, and then I have some Q&A that we would go through. Kathleen Quirk CEO, President & Director Great. Thank you, Carlos, and thanks, Morgan Stanley, for hosting this conference. We enjoy being here every year and look forward to the continued engagement with the investors here, a lot of interest in what we're doing at Freeport. We've got big agenda going on. Copper is our focus, and we're working -- we're entering a new period here of growth. We've got some key initiatives that we're pursuing. One is the recovery of the Grasberg, which is going very well, and we can talk more about that. We've got a very exciting growth profile in the U.S. that we're pursuing. We've got brownfield expansion opportunities that we're moving forward to make a decision on in the U.S. as well as a big investment or a big opportunity we have in technology. We're leaning very heavily into innovation and technology, which will allow us to capture some value, some significant value associated with processing of above-ground material that is ripe for Freeport to take advantage of. So that's a big initiative.