First Quantum Minerals Ltd.

Thank you for standing by. This is your conference operator. Welcome to the first Quantum Minerals fourth quarter 2024 results conference call. As a reminder, all participants are in a listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star then zero. I would now like to turn the conference over to Ms. Benita To, Director and Investor Relations. Please go ahead, ma'am.

Thank you, Operator. Good morning, and thank you, everyone, for joining us today to discuss our fourth quarter results. During the call, we will be making forward-looking statements. As such, I encourage you to read the cautionary notes that accompany this presentation, our MDMA, and the related news release. As a reminder, the presentation is available on our website and that all dollar references are in U.S. dollars unless otherwise noted. On today's call are Tristan Paschall, our Chief Executive Officer, Ryan McWilliam, our Chief Financial Officer, and Rudy Badenhorst, our Chief Operating Officer. And with that, I will turn the call over to Tristan for opening remarks.

Thank you, Benita, and thank you, everybody, for joining us today. for our fourth quarter and year-end 2024 update. Whilst 2024 began with several challenges brought about from the suspension at Cobra Panama, we reacted swiftly with the implementation of our comprehensive refinancing transactions at the start of the year. These actions greatly stabilized the business and we remain thankful to our investors for their ongoing support through this period and the remainder of the year. Through the 2024 year, our financial stability allowed investment into the Consanti S3 expansion, which has delivered strong, tangible progress on the project. And in addition, we were able to realize the commercial production milestone and enterprise. Nonetheless, it was also essential that Consanti and Trident live a strong operational performance. And it is pleasing to report that we exceeded on our copper and gold production guidance for 2024. to which Rudy will cover shortly in his remarks. More importantly, the initiatives that we took to improve operational performance have set us up well for 2025 for continued safe productivity in Zambia. Beyond continuing this operational performance, our priorities for this year are very clear. Number one, to deliver on the Constanti S3 expansion, On this, I will provide more detail when I review our outlook at the back end of today's call. Number two, to continue additional initiatives to further strengthen the balance sheet, to which Ryan will speak on. And number three, to make progress towards resolution in Panama. I will provide a brief update on this topic and the power situation in Zambia, as well as a corporate update, before I hand the call over to Rudi. I was in Panama with the Board of Directors at the end of January. We continue to engage with industry and ministerial officials, including hosting a tour at Cobra Panama for the Minister of Environment and Minister of Public Security in January. We continue to await approval of the Preservation and Safe Management Program that will allow the export of concentrate that remains on site. We have not yet met with President Molina. The President remains focused on advancing social security legislation in the country, but has made public comments that he intends to address the issue of the mine in early 2025 once social security is resolved. In the meantime, Panama initiated an environmental audit with the release of the Terms of Reference on January 6. The purpose of the audit will focus on assessing the current state of the facilities, potential impacts and necessary mitigation and restoration measures, as well as determining the real cost of the restoration of the mining area and the means to fund these costs. The terms of reference acknowledges that environmental restoration of the mining area is a complex and long-term process which will require years of effective implementation and rigorous monitoring to achieve sustainable results. The public consultation period for the terms of reference concluded last week and we await further instructions from the Ministry of Environment. We do welcome the environmental audit and we are prepared to cooperate fully. The company has always operated its operations with transparency and in full compliance with international environmental standards and we are confident the results of this environmental audit will demonstrate the world-class nature of Cobra Panama. With regards to our ICC arbitration, this was initiated under the previous government, which changed in July of last year following the elections. The new government brought in new counsel and requested for more time from the arbitration tribunal. Based on these circumstances, the tribunal unilaterally decided that final hearings should be held in February 2026. The company reiterates that arbitration is not the preferred outcome and that we prefer to sit down with the new president to discuss the month, which he has indicated he will do in early 2025. We remain committed to open dialogue and to being part of the solution for the country and the Panamanian people. On to Zambia, where the rainy season has started, and whilst the Kariba late water levels are replenishing, they do remain at low levels compared to previous years. As such, the company is not planning for the hydroelectricity power generation sources within the country to return to normal output levels this year. To address the probable shortfall, the company has put sourcing plans in place for 2025 to ensure that reliable electricity supply is available for our operations, including the start-up of the Constantia S3 expansion project. With these sourcing plans for power imports, at this stage we expect that 2025 will be similar to 2024 whereby our Zambian operations should experience minimal material interruptions from our restrictions. With our fourth quarter results, we also announced that Bob Harding will retire at the upcoming ADEM in May, and Ken MacArthur will take over as the company's new independent chair of board. I'd like to offer my sincere personal thanks to Bob for his guidance, knowledge, and impact on the board over the years, including the last two years as chair during a period of challenge and change for First Quantum. I certainly wish Bob a happy retirement. Kevin has been an invaluable director of the board since 2021, and I look forward to working with him more closely in his new role as chair. With that, I would like to now hand the call over to Rudy to review the operations.