Risk Factors Update Summary

• Proposed additional extensions to existing levees in Indonesia could impact tailings management area. This could result in depositional impacts outside the approved footprint.
• Operations and projects expanded to include refining. PT-FI granted an IUPK beyond 2041.
• Increase in separatist violence incidents in Central Papua from at least 30 to 40 could impact operations.
• Export licenses, duties, and volumes added. PT-FI aims to develop additional smelting capacity.
• Transitioning from coal to liquefied natural gas for energy source could impact operations globally.
• Increased tailings production from 331 to 341 million metric tons in 2023.
• Labor shortages in North America operations led to hiring more contract workers in 2022.
• Tailings management and monitoring programs expanded to assess environmental impacts.
• Cybersecurity events have increased in frequency and magnitude, with incidents including phishing and ransomware.
• Health survey collaboration with local authorities to address community health challenges.
• Transition to renewable energy sources may result in additional costs and impact operating and energy costs.
• Ongoing assessments of surface waters, sediments, and soils to ensure environmental compliance.
• Failure to meet evolving ESG expectations could materially and adversely affect stock price.
• Potential impacts of overburden erosion managed through re-sloping and water management projects.