Freeport-McMoRan Inc. (FCX) and its 48.76%-owned subsidiary, PT Freeport Indonesia (PTFI), entered into a Memorandum of Understanding (MOU) with the Government of Indonesia on February 18, 2026. The MOU provides for a life-of-resource extension of operating rights for PTFI in the Grasberg minerals district, contingent on the issuance of an amended IUPK (Mining Business Permit). The extension of operating rights will be evaluated every 10 years, consistent with the process outlined in Annex V of the IUPK, with current fiscal terms and operating obligations remaining unchanged. PTFI plans to invest $10 billion over the next five years and increase exploration activities to identify and develop long-term resources and expansion opportunities beyond 2041. In 2024, PTFI's operations generated approximately $5 billion in direct benefits for Indonesia, with the government receiving over 70% through taxes, royalties, duties, and dividends. PTFI voluntarily contributes 1% of its revenues, amounting to over $100 million annually, to support community development, health, education, and athletics. FCX has agreed to transfer a 12% interest in PTFI to the Government of Indonesia free of charge in 2041, with the acquiring party reimbursing FCX for pro-rata post-2041 investments at book value. FCX will maintain control over operations for the life of the project, and the existing governance structure, Shareholder Agreement, and IUPK terms will continue.