TORONTO, Ontario — February 11, 2026 — Leads & Copy —
First Quantum Minerals Ltd. (TSX: FM) is launching an offering of $1.35 billion aggregate principal amount of senior notes (the “Notes”).
The Notes will be senior unsecured obligations of the Company and will be guaranteed by certain of the Company’s subsidiaries. Interest on the Notes will accrue from the issue date and will be payable semi-annually. The interest rate and offering price of the Notes along with certain other terms will be determined at the time of pricing of the offering, subject to market conditions.
First Quantum intends to apply the gross proceeds from the sale of the Notes, together with cash on balance sheet, to fund the full redemption of its existing 9.375% senior secured second lien notes due 2029, and to pay transaction fees, costs and expenses.
The Notes will not be registered under the U.S. Securities Act, or the securities laws of any state of the U.S. or other jurisdictions and the Notes will not be offered or sold within the U.S. or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S of the U.S. Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and the applicable laws of other jurisdictions.
The company does not intend to conduct a public offering in the United States or any other jurisdiction. It may be unlawful to distribute this announcement in certain jurisdictions.
In member states of the EEA, this announcement and any offer of the securities referred to herein in any Member State of the European Economic Area (“EEA”) will be made pursuant to an exemption under the Prospectus Regulation from the requirement to publish a prospectus for offers of the securities referred to herein.
The securities are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the EEA or the United Kingdom.
This announcement is not, and under no circumstances is to be construed as, a prospectus, an advertisement or a public offering of the securities referred to herein in Canada. No securities commission or similar regulatory authority in Canada has reviewed or in any way passed upon this announcement or the merits of the securities referred to herein, and any representation to the contrary is an offence.
This announcement does not constitute a notice of redemption in respect of any securities of the Company. Any such redemption (including the terms thereof) will, if applicable, be outlined pursuant to a separate notice of redemption in accordance with the indenture governing such Securities.
Certain information contained in this news release constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and “forward-looking information” under applicable Canadian securities legislation. The forward-looking statements and forward-looking information in this news release include the expected uses of proceeds of the offering of the Notes.
See the Company’s Annual Information Form and other documents filed with the securities regulators or similar authorities in Canada (accessible under the Company’s profile on SEDAR+ at www.sedarplus.ca) for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information.
Source: First Quantum Minerals Ltd.
