PHOENIX, AZ, June 23, 2015 - Freeport-McMoRan Inc. (NYSE: FCX) today announced that its wholly-owned subsidiary, Freeport-McMoRan Oil & Gas Inc. (FM O&G), filed a registration statement on Form S-1 (the Registration Statement) with the U.S. Securities and Exchange Commission (SEC) related to its potential initial public offering (IPO) of Class A common stock representing a minority interest in FM O&G. FM O&G intends to apply to list the common stock on the New York Stock Exchange under the ticker "FMOG."

The Registration Statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Barclays will act as book-runner for the proposed IPO. When available, copies of the preliminary prospectus relating to the proposed IPO may be obtained from Barclays, attention:

Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Barclaysprospectus@broadridge.com
(888) 603-5847

When available, to obtain a copy of the preliminary prospectus free of charge, visit the SEC's website and search under "Freeport-McMoRan Oil & Gas Inc."