Freeport-McMoRan, Inc.

I would now like to turn the conference over to Mr. David Joint, Vice President, Investor Relations. Please go ahead, sir.

Thank you, Regina, and good morning, everyone. Welcome to the Freeport-McMoran conference call. Earlier this morning, FCX reported first quarter 2025 operating and financial results. A copy of today's release with supplemental schedules and slides are available on our website, fcx.com. Today's conference call is being broadcast live on the internet. Anyone may listen to the conference call by accessing our website homepage and clicking on the webcast link. In addition to analysts and investors, the financial press has been invited to listen to today's call. A replay of the webcast will be available on our website later today. Before we begin our comments, we'd like to remind everyone that today's press release and certain of our comments on the call include non-GAAP measures and forward-looking statements and actual results may differ materially. Please refer to the cautionary language in our press release and slides and to the risk factors described in our SEC filings, all of which are available on our website. Also on the call with me today are Richard Ackerson, Chairman of the Board of FCX, Kathleen Quirk, President and Chief Executive Officer, Marie Robertson, Executive Vice President and Chief Financial Officer, and other senior members of our management team. Richard will make some opening remarks. Kathleen and Marie will review our slide materials, and then we'll open up the call for questions. Richard?

Thank you, David, and thank you all for joining us. Kathleen and our team will review the details of the quarter and our outlook. Team Freeport is executing well in a complex environment. Over the years, we've had lots of experience in doing just that. facing problems with resilience and relentlessness, and successfully executing our plans. Government policy and tariffs are dominating financial markets. At Freeport, we are focused on the basics to drive long-term value. Our strategy has been clear for many years, centered on being a global leader in copper. We have built our business with large-scale copper producing assets, and a long-term pipeline of organic growth projects supported by a strong balance sheet and a clearly articulated financial policy. This strategy places Freeport in a strong position with where the world is heading. Copper is an essential metal for the future and Freeport is foremost in copper. We also have significant financial exposure to gold and a world-class molybdenum business. Kathleen and our senior management team are engaged in important initiatives to support this strategy. As you will see, we're making significant positive progress. Our team is driving efficiencies and reducing costs while setting up the next generation of copper development projects, which will have attractive returns for shareholders by delivering more copper to a world with increasing requirements. Our Freeport team's accomplishments in Indonesia are striking. in the upstream mining at the grassberg district and with our massively expanded downstream processing and refining the smelter is progressing ahead of our earlier targets we are honored that indonesia's president but provo inaugurated our pressure metals refinery in march ptfi celebrated its 58th anniversary in indonesia this month My first trip in Indonesia was 35 years ago. I am delighted with our current positive relationship with the government under President Prabowo's leadership. We are well positioned and working together to secure long-term operating rights for this incredible asset. It's the world's second largest copper mine and one of the world's largest gold mines. All of this will generate large values for all stakeholders for decades to come. Kathleen?