First Quantum Mourns the Loss of Co-Founder and Chairman Philip Pascall

First Quantum Minerals Ltd. (TSX: FM) announces with deep sadness the passing of its co-founder and Chairman, Philip Pascall, on September 19, 2023, at his home in Perth, Western Australia.

Philip co-established First Quantum in 1996 and held the position of Chairman since its inception, serving as Chief Executive Officer until 2022. During his tenure, Philip fostered an entrepreneurial and bold culture that transformed the company from a 10,000-tonnes tailings re-processor with the Bwana Mkubwa project in Zambia into one of the world’s largest copper producers, operating across five continents and employing over 20,000 individuals globally. Among his proudest achievements were the numerous initiatives for local community development, enhancing healthcare and education standards in often remote areas.

In light of Philip Pascall’s passing, Robert Harding, Lead Independent Director, has been appointed as First Quantum’s Interim Chairman. Mr. Harding, a Director since 2013, was instrumental in overseeing the company’s succession planning process, which led to Tristan Pascall’s appointment as Chief Executive Officer in May 2022.

Robert Harding, Interim Chairman, expressed the Board’s heartfelt condolences to the Pascall family and friends, emphasizing Philip’s remarkable leadership in propelling First Quantum into a modern, multinational mining corporation. Philip’s legacy will leave a profound impact on the company and the many lives he touched through his visionary initiatives.

Tristan Pascall, Chief Executive Officer of First Quantum, shared that while Philip’s passing is a significant loss, he would encourage everyone to focus on the future and the company’s promising trajectory. Philip’s legacy of emphasizing project execution, operational excellence, and social responsibility will continue to guide First Quantum’s journey.