First Quantum Minerals Responds to News Article Regarding Claims BY the Zambia Revenue Authority

NEWS RELEASE

18-09

March 20, 2018

www.first-quantum.com

FIRST QUANTUM MINERALS RESPONDS TO NEWS ARTICLE REGARDING CLAIMS BY

THE ZAMBIA REVENUE AUTHORITY

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

news article about claims made by the Zambia Revenue Authority (“ZRA”) regarding underpayment of customs

duties.

The Company confirms that it is in possession of a letter from the ZRA, dated March 19, 2018, noting an assessment

for import duties, penalties and interest on consumables and spare parts of 76.5 billion Zambian kwacha.

The Company unequivocally refutes this assessment which does not appear to have any discernable basis of

calculation and will continue working with the ZRA, as it normally does, to resolve the issue.

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]