FM.TO · 2022-05-05 12:00:00

First Quantum Minerals Announces Tristan Pascall as New Chief Executive Officer and Board Changes

Management Changes

NEWS RELEASE

22-10

May 5, 2022

www.first-quantum.com

FIRST QUANTUM MINERALS ANNOUNCES

TRISTAN PASCALL AS NEW CHIEF EXECUTIVE OFFICER AND BOARD CHANGES

Toronto, Ontario (May 5, 2022) - First Quantum Minerals Ltd. (“ First Quantum” or “the Company”) (TSX: FM) today

announced that the Board of Directors has appointed Tristan Pascall to the role of Chief Executive Officer (CEO). The

appointment came into effect at the Annual General Meeting (AGM) held today on May 5, 2022. Tristan will also be

joining the Board of Directors.

First Quantum is also pleased to announce the appointment of Alison Beckett as an independent director on the

Board of Directors. Alison has a career spanning industry and consulting , including procurement and strategy

consulting. She is currently Group Talent Director at Ardagh Group and was previously an advisor providing

leadership advisory services at Egon Zehnder. Alison holds an MA in Geography from Cambridge University and MBA

from the London Business School.

First Quantum would like to thank Clive Newall, co -founder of the Company, who has retired from the Board of

Directors and Philip Pascall, co-founder and CEO since 1996, who has retired from the CEO role. Philip will continue

to serve as Chairman of the Board.

“The appointment of Tristan Pascall represents the culmination of a succession planning process led by independent

directors on the Board’s Nominating and Governance Committee . We believe Tristan’s combination of operational,

strategic and capital markets experience are fundamental to the continuity of our unique core capabilities, namely

industry-leading project execution and operational excellence ,” said Robert Harding, Chair of the Nominatin g and

Governance Committee and Lead Independent Director. “On behalf of the Board of Directors, I would like to thank

Philip and Clive. As co-founders of First Quantum, Philip and Clive have demonstrated extraordinary leadership and

made significant contributions to the development and growth of the Company and I would like to thank them both.

I would also like to welcome Alison, who brings with her many years of experience in talent development at the Board

and executive level, which will help support the Company through the upcoming period of transition.”

“As my time as Chief Executive Officer of First Quantum comes to an end, I would like to thank a number of long-

standing Directors and the many loyal and steadfast managers and staff who have worked devotedly with First

Quantum, some since its inception. It is these people who have established and who nurture the unique culture of

the Company. The Company’s capacity for caring and for creative thinking and practices relies on this culture. It is

with the continuity of this distinct character and deep talent pool that First Quantum is placed in a very strong

position for 2022 and beyond ,” said Philip Pascall, Chairman of the Board. “I would like to extend my deepest

gratitude to all of the Company’s stakeholders for their support through the years.”

For further information, visit our website at www.first-quantum.com or contact:

Bonita To, Director, Investor Relations

(416) 361-6400 Toll-free: 1 (888) 688-6577