PHOENIX, AZ, November 10, 2014 – Freeport-McMoRan Inc. (NYSE: FCX) announced today the pricing of $3.0 billion of senior notes. Following is a summary of the four new tranches of debt, which will have an aggregate weighted interest cost of approximately 4.1 percent:

Description Amount Maturity
2.30% Senior Notes (1) $750 Million Due November 14, 2017
4.00% Senior Notes (2) $600 Million Due November 14, 2021
4.55% Senior Notes (3) $850 Million Due November 14, 2024
5.40% Senior Notes (4) $800 Million Due November 14, 2034

(1) Priced at 99.934% to yield 2.323%
(2) Priced at 99.619% to yield 4.063%
(3) Priced at 99.905% to yield 4.562%
(4) Priced at 99.516% to yield 5.440%

The sale of the senior notes is expected to settle on November 14, 2014, subject to customary closing conditions. FCX intends to use the net proceeds from the offering to repay certain of its outstanding debt.

The joint book-running managers for the offering are Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated. Copies of the prospectus supplement, when available, and the prospectus relating to the offering may be obtained by contacting Citigroup Global Markets Inc. toll free at 1(800) 831-9146, J.P. Morgan Securities LLC collect at 1(212)-834-4533, or Merrill Lynch, Pierce, Fenner & Smith Incorporated toll free at 1(800) 294-1322.

A registration statement relating to the offering has been filed with the United States Securities and Exchange Commission and is effective. This press release is for informational purposes only and is not an offer to sell or an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. The offering may be made only by means of a prospectus supplement and the accompanying prospectus.