FREEPORT-MCMORAN INC 8-K/A Report, Corporate Update (Feb 27, 2026)

Freeport-McMoRan Inc. (FCX) filed Amendment No. 1 to its February 24, 2026 Form 8-K to attach the full text of a Memorandum of Understanding (MOU) dated February 18, 2026, signed among the Government of Indonesia, PT Freeport Indonesia (PTFI, 48.76%^a owned by FCX), and FCX.

The MOU provides for a life-of-mine extension of PTFI's operating rights in the Grasberg minerals district, with rights to be reviewed every 10 years, going beyond the current 2041 horizon. The agreement is not yet effective as a binding change: the extension and other terms are subject to the Indonesian government issuing an amended IUPK (Special Mining Business License), and PTFI intends to expeditiously file its extension application reflecting the agreed terms. Key economic and governance terms include the continuation of current IUPK fiscal terms and nail-down provisions, PTFI's commitment to invest about $10 billion^b over the next five years, increased exploration spending, and continued prioritization of domestic downstreaming, with refined copper potentially available to the U.S. on market terms.

FCX would transfer a 12%^c interest to the Indonesian government free of charge in 2041, with the acquiring party reimbursing FCX pro rata at book value for investments benefiting the post-2041 period. FCX states it will retain operational control for the life of the project, and the existing shareholder agreement and governance structure will continue. For investors, the MOU materially reduces long-term uncertainty around Grasberg, the company's largest asset, by moving toward a multi-decade runway beyond 2041.

However, the outcome depends on regulatory issuance of the amended IUPK and finalization of related agreements, so timing and final terms remain open. The filing itself adds no new financial results; the amendment's sole purpose was to file the MOU as Exhibit 99.2.