(In United States dollars, except "C$" for Canadian dollars where noted)

TORONTO, Feb. 21, 2024 /CNW/ - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX: FM) announces that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets, BMO Capital Markets and Goldman Sachs as joint book-runners (collectively, the "Underwriters") pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 121,680,000 common shares of First Quantum ("Common Shares") at a price of C$11.10 per Common Share (the "Offering Price"), for aggregate gross proceeds of approximately C$1,351 million (approximately $1,000 million) (the "Offering").