First Quantum Minerals Provides an Update ON Zccm Arbitration and High Court Claims

NEWS RELEASE

18-13

April 3, 2018

www.first-quantum.com

FIRST QUANTUM MINERALS PROVIDES AN UPDATE ON ZCCM ARBITRATION

AND HIGH COURT CLAIMS

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

update on the previously reported legal proceedings between its subsidiary Kansanshi Holdings Ltd., and ZCCM

International Holdings Plc (“ZCCM”), the minority shareholder in Kansanshi Mining Plc (“KMP”).

KMP reports the February 22, 2018 ruling by the Arbitral Tribunal which denied permission for ZCCM to proceed

for failing to establish a prima facie case, thereby ending the arbitration. The ruling followed the hearing of

submissions from both sides over a three-day period in January 2018. As a result of this ruling, ZCCM is liable for

costs incurred with this proceeding. ZCCM has since appealed the ruling which they allege is misconceived and

meritless.

On March 7, 2018, the parties in the Statement of Claim filed in the Lusaka High Court mutually consented to a stay

of proceedings. The stay is pending resolution of an appeal by the Company and other named defendants of the

Court’s decision to reserve judgment on the point that the claims were filed beyond the statute of limitations.

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]