First Quantum Minerals Ltd.

Good morning and welcome everyone to the first Quantum Minerals third quarter 2026 results conference call. As a reminder, today's conference call is being recorded. All lights have been placed in mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. And if you would like to withdraw your question, simply press star again. I would now like to turn the call over to Bonita To, Director, Investor Relations and Capital Markets. Please go ahead.

Hi, thank you, operator, and thank you, everyone, for joining us today to discuss our third quarter results. During the call, we will be making forward-looking statements, and as such, I encourage you to read the cautionary notes that accompany this presentation, our MD&A, 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 Pascall, our Chief Executive Officer, Ryan MacWilliam, our Chief Financial Officer, and Rudi Badenhorst, our Chief Operating Officer. And with that, I'll turn the call over to Tristan.

Thank you, Bonita. Good morning, everyone, and thank you for joining us today for our third quarter results. It's been an eventful three months since our last call, so I'm pleased to have this opportunity to provide you an update. In the third quarter, with the hedge book behind us, we benefited fully from stronger copper prices. This translated into a meaningful improvement in our financial performance and demonstrated the underlying earnings potential of our business, which Ryan will speak to in more detail later in today's call. We also delivered high production in the quarter, which Rudi will take us through in more detail later. I would like to start with the October 9 earthquake in Panama. First and foremost, all first quantum personnel in the country were reported safe. Our thoughts remain with the families and communities affected, particularly in the Pannoname area, where some of the most significant impacts were reported. The earthquake was well within the design parameters of the mine, with no material impacts to site infrastructure or environmental protection systems, and the tailings and water management facilities also remained stable and secure. I want to recognise the Cobra Panama team for their strong and immediate response to the incident and their dedication in assisting local communities with the provision and delivery of essential supplies as part of the wider relief efforts in the country. During the third quarter, we made good progress with the stockpile processing program as part of the ongoing environmental stewardship of the mine. We have successfully recommissioned all three processing trains marking another important step in the program and our focus has now shifted towards improving reliability and stability. In other developments in Panama, on September 30, the Inter-Ministerial Commission provided its recommendation regarding the future of Code Panama. The report acknowledges that maintaining the site indefinitely without a long-term framework is not a sustainable solution. and recommends that the government negotiates with First Quantum to establish a new framework that can address the outstanding arbitration proceedings and provide for a restart to support an orderly, self-financed, long-term closure process, all while complying with the ruling of the Supreme Court of Justice and prioritising environmental, social and economic outcomes for Panama. The report highlighted the findings of the Independent Environmental Audit which found a high level of compliance while identifying a limited number of areas for improvement which we have already commenced addressing. The report also recognises the significant economic consequences of the shutdown for Panama from employment and local business activity to export and government revenues and indicated that economic activity previously generated by the mine cannot be easily replaced by other sectors. Importantly, the Commission highlights the severe impact on communities around the mine and recommends that these communities be priority beneficiaries in any future framework with greater local economic participation and tangible investment in community needs. I would also like to provide some context around the Commission's comments on closure. The report recognises that closure for the site of Cobra Panama scale is a complex engineering and environmental undertaking involving ongoing tailings and water management, rehabilitation, stabilisation and long-term monitoring to ensure a high quality outcome for environmental rehabilitation, biodiversity and local communities. The report does not describe closure as a single event, but as a long-term process that needs to be properly planned, funded and independently verified. As such, rather than an immediate closure that would place a high burden on the State of Panama, the Commission recommends a progressive closure over several decades that would be funded by the mine's own economic activity. The Commission also recommends that the mine's territorial footprint does not expand and be progressively reduced through closure and rehabilitation over the life of the operation. The Ministers have explained that the ultimate territorial footprint needs to be smaller than that was agreed under Law 406. As a reminder, the Commission's report expressly states that it is setting out general principles and that mechanisms and other specifics are to be developed through negotiations. We view the report as a positive step forward towards establishing a basis from which formal dialogue can begin. We remain ready to engage constructively with the Government of Panama with the objective of a fair and durable solution for all parties while respecting Panama's sovereignty, ownership of its reserves and resources, democratic institutions and legal processes. Thank you, and I will now pass the call to Rudi to discuss our operational results.