FIRST QUANTUM MINERALS PROVIDES AN UPDATE ON ITS ZAMBIAN OPERATIONS (In United States dollars, except where noted otherwise)

NEWS RELEASE

17-24

September 14, 2017

www.first-quantum.com

FIRST QUANTUM MINERALS PROVIDES AN UPDATE ON ITS ZAMBIAN OPERATIONS

(In United States dollars, except where noted otherwise)

First Quantum Minerals Ltd. (“First Quantum” or the “Company”, TSX Symbol “FM”) today provided the

following update on its Kansanshi complex and Sentinel mine in Zambia:

- The four-week scheduled maintenance of the Kansanshi smelter was completed within the planned

time period. The staged restart and ramp-up process was initiated on September 12; steady-state operations

are expected during the week beginning September 18, 2017.

- Unrestricted power is now being provided to the Company’s operations.

- An agreement has been reached between ZESCO (the state-run power company), the Government of

the Republic of Zambia and First Quantum whereby:

o First Quantum agrees to a tariff increase, to approximately $0.09 per kilowatt hour, provided that

Kansanshi and Sentinel can each import a portion of their total power requirements from alternative

suppliers.

o The tariff increase will be implemented in two increments, with the first commencing immediately

and the second being applied once the details of power import arrangements are agreed and

formalized by contract.

o The tariff will be reviewed upon finalization of a Cost of Service Study which has been

commissioned by the Energy Regulation Board. The study is expected to be available in early 2018.

o The tariff is backdated to January 2017, with a portion of the arrears to be applied to improving the

stability of power supplies for Kansanshi and Sentinel.

o The Government and ZESCO have committed to provide continuous unrestricted supply of power

to First Quantum’s operations and to facilitate the importation of power from alternative suppliers.

- Through management action, budgeted production at the Kansanshi and Sentinel mines have been

maintained for the quarter to date.

On Behalf of the Board of Directors of First Quantum Minerals Ltd.

G. Clive Newall

President

For further information visit our website at www.first-quantum.com

North American contact: Sharon Loung, Director, Investor Relations

Tel: (647) 346-3934 Fax: (604) 688-3818 Toll Free: 1 (888) 688-6577 E-Mail: [email protected]

United Kingdom contact: Clive Newall, President

Tel: +44 140 327 3484 Fax: +44 140 327 3494 E-Mail: [email protected]