FCX Cu Au Basic Materials Conference Basic
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FCX Cu Freeport- McMoRan Copper Au Gold MM OO RR GG AA NN SS TT AA NN LL EE YY BasicBasic MaterialsMaterials ConferenceConference CrowneCrowne Plaza Plaza TimesTimes SquareSquare NewNew YorkYork CityCity Richard C. Adkerson President & Chief Executive Officer February 22, 2007 FREEPORT-MCMORAN COPPER & GOLD INC. www.fcx.com Cautionary Statement Regarding Forward-Looking Statements ThisThis documentdocument containscontains certaincertain forward-lookingforward-looking statementsstatements ababoutout FCXFCX andand PhelpsPhelps Dodge.Dodge. WhWhenen usedused inin thisthis document,document, thethe wordswords “anticipates”,“anticipates”, “may”,“may”, “can”,“can”, “b“believes”,elieves”, “expects”,“expects”, “projects”,“projects”, “intends”,“intends”, “likely”,“likely”, “will”,“will”, “to“to be”be” and and anyany similarsimilar expressionsexpressions andand anyany otherother statementsstatements thatthat araree notnot historicalhistorical facts,facts, inin eacheach casecase asas theythey relaterelate toto FCXFCX oror PhelpsPhelps Dodge,Dodge, thethe managementmanagement ofof eithereither suchsuch companycompany oror thethe transactiontransaction areare intendintendeded toto identifyidentify thosethose asseassertionsrtions asas forward-lookingforward-looking statements.statements. InIn makingmaking anyany ofof thosethose statements,statements, thethe personperson makingmaking themthem believesbelieves thatthat itsits expectationsexpectations areare basedbased onon reasonablereasonable assumptions.assumptions. However,However, anyany suchsuch statementstatement maymay bebe influencedinfluenced byby fafactorsctors thatthat couldcould causcausee actualactual outcomesoutcomes andand resultsresults toto bebe materiallymaterially differentdifferent frfromom thosethose projectedprojected oror anticipated.anticipated. ThesThesee forward-lookingforward-looking statstatementsements areare subjectsubject toto numerousnumerous risksrisks andand uncertainties.uncertainties. ThereThere areare variousvarious impoimportantrtant factorsfactors thatthat couldcould causcausee actualactual resultsresults toto differdiffer materiallymaterially fromfrom thosethose inin anyany suchsuch forward-lookingforward-looking statemenstatements,ts, manymany ofof whichwhich areare beyondbeyond thethe controlcontrol ofof FCXFCX andand PhelpsPhelps Dodge,Dodge, includingincluding macroeconomicmacroeconomic conditionsconditions andand generalgeneral industryindustry conditionsconditions suchsuch asas thethe competitivecompetitive environmentenvironment ofof thethe miningmining industry,industry, unanticipatedunanticipated mining,mining, mmillingilling andand otherother processingprocessing problems,problems, accideaccidentsnts thatthat leadlead toto personalpersonal injuryinjury oror propertyproperty damage,damage, persistepersistentnt commoditycommodity priceprice reductions,reductions, changeschanges inin politicpolitical,al, socialsocial oror economiceconomic circumstancescircumstances inin areasareas wherewhere FCXFCX andand PhelpsPhelps DodgeDodge operate,operate, variancesvariances inin oreore grades,grades, laborlabor relatirelations,ons, adverseadverse weatherweather conditions,conditions, thethe speculativespeculative naturenature ofof mineralmineral exploration,exploration, fluctuationsfluctuations inin interestinterest ratesrates andand ototherher adverseadverse financialfinancial marketmarket conditions,conditions, regulatoryregulatory andand litigationlitigation mattersmatters andand riskrisks,s, changeschanges inin taxtax andand otherother laws,laws, thethe ririsksk thatthat aa conditioncondition toto closingclosing ofof thethe transactiontransaction maymay notnot bebe satisfied,satisfied, thethe riskrisk thatthat aa regulatoryregulatory approvalapproval thatthat maymay bebe requiredrequired forfor thethe transactiontransaction isis notnot obtainedobtained oror isis obtainedobtained subjectsubject toto conditionsconditions thatthat areare notnot ananticipatedticipated andand otherother ririskssks toto consummationconsummation ofof thethe transaction.transaction. TheThe actualactual resultsresults oror performancperformancee byby FCXFCX oror PhelpsPhelps Dodge,Dodge, andand issuesissues relatingrelating toto thethe transaction,transaction, couldcould differdiffer materiallymaterially fromfrom thosethose expressedexpressed in,in, oror imimpliedplied by,by, anyany forward-lookingforward-looking statementsstatements relarelatingting toto thosethose matters.matters. Accordingly,Accordingly, nono assurancesassurances cancan bebe givengiven thatthat anyany ofof thethe eventsevents anticipatedanticipated byby thethe forward-lookingforward-looking statementsstatements willwill transptranspireire oror occur,occur, oror ifif anyany ofof themthem dodo so,so, whatwhat impactimpact theythey willwill havehave onon thethe resultsresults ofof operationsoperations oror financialfinancial conditioncondition ofof FCXFCX oror PhelpsPhelps Dodge,Dodge, thethe combinedcombined companycompany oror thethe transatransaction.ction. ExceptExcept asas requiredrequired byby law,law, wewe areare underunder nono obligation,obligation, andand expresslyexpressly disclaimdisclaim anyany obligation,obligation, toto update,update, alteralter oror otherwiseotherwise reviserevise anyany forwforward-lookingard-looking statement,statement, whetwhetherher writtenwritten oror oral,oral, thatthat maymay bebe mademade fromfrom timetime toto time,time, whetherwhether asas aa resultresult ofof newnew information,information, futufuturere eventsevents oror otherwise.otherwise. www.fcx.com ¾ 2 2 Important Information for Investors and Stockholders FCXFCX andand PhelpsPhelps DodgeDodge filedfiled aa jointjoint proxyproxy statement/prospectusstatement/prospectus withwith thethe SecuritiesSecurities andand ExchangeExchange CommissionCommission (SEC)(SEC) inin connectionconnection withwith thethe proposedproposed merger.merger. FCXFCX andand PhelpsPhelps DodgeDodge urgeurge investorsinvestors andand stockholdestockholdersrs toto readread thethe definitivedefinitive jointjoint proxyproxy statement/prospectusstatement/prospectus andand ananyy otherother relevantrelevant documentsdocuments filedfiled byby eieitherther partyparty withwith thethe SECSEC becausebecause theythey containcontain importantimportant information.information. InvestorsInvestors andand stockholdersstockholders maymay obtainobtain thethe jointjoint proxyproxy statstatement/prospectusement/prospectus andand otherother documentsdocuments filedfiled withwith thethe SECSEC freefree ofof chargecharge atat thethe websitewebsite maintainedmaintained byby thethe SECSEC atat www.www.sec.gov.sec.gov. InIn addition,addition, documentdocumentss filedfiled withwith thethe SECSEC byby FCXFCX willwill bebe availableavailable freefree ofof charchargege onon thethe investorinvestor relationsrelations portionportion ofof thethe FCXFCX websitewebsite atat www.fcx.cwww.fcx.com.om. DocumentsDocuments filedfiled withwith thethe SECSEC byby PhelpsPhelps DodgeDodge willwill bebe availableavailable freefree ofof charchargege onon the the investorinvestor relationsrelations portionportion ofof thethe PhelpsPhelps DodgeDodge webweb sitesite atat www.phelpsdodge.com.www.phelpsdodge.com. FCXFCX andand certaincertain ofof itsits directorsdirectors andand executiexecutiveve officersofficers areare participantsparticipants inin thethe solicitsolicitationation ofof proxiesproxies fromfrom thethe stockholdersstockholders ofof FCXFCX inin connectionconnection withwith thethe merger.merger. InformationInformation concerningconcerning thethe interestsinterests ofof FCX’sFCX’s directors directors andand executiveexecutive officersofficers inin FCXFCX isis setset forthforth inin thethe preliminarypreliminary jointjoint proxyproxy statement/prospectusstatement/prospectus filedfiled withwith thethe SEC.SEC. PhelpsPhelps DodgeDodge andand certaincertain ofof itsits directorsdirectors andand executiveexecutive officersofficers maymay bebe deemdeemeded toto bebe participantsparticipants inin thethe solicitatiosolicitationn ofof proxiesproxies fromfrom itsits shareholdersshareholders inin connectionconnection withwith thethe merger.merger. InformationInformation concerningconcerning thethe interestsinterests ofof PhelpsPhelps DodgDodge’se’s directorsdirectors andand executiveexecutive officersofficers inin PhelpsPhelps DodgeDodge isis setset forthforth inin thethe jointjoint proxproxyy statement/prospectusstatement/prospectus filedfiled withwith thethe SEC.SEC. OtherOther informationinformation regardingregarding thethe directdirect andand inindirectdirect interests,interests, byby securitysecurity holdingsholdings oror otherwise,otherwise, ofof thethe participantsparticipants willwill bebe describeddescribed inin thethe definitivedefinitive jointjoint proxyproxy statement/prospectusstatement/prospectus relatingrelating toto thethe memerger.rger. InvestorsInvestors andand stockholdersstockholders cancan obtainobtain moremore detaileddetailed informationinformation regardinregardingg thethe directdirect andand indirectindirect interestsinterests ofof FCX’sFCX’s and and PhelpsPhelps Dodge’sDodge’s directorsdirectors andand executiveexecutive officersofficers inin thethe mergermerger byby readingreading thethe definitivedefinitive jointjoint proxy proxy statement/prospectus.statement/prospectus. www.fcx.com ¾ 2 3 FCX’s Grasberg World Class Copper and Gold Mine Long Lived Payable Reserves - Copper – 39 Billion lbs - Gold – 41 Million ozs High Volume/ Low Cost Production Future