First Quantum Minerals Declares Interim Dividend of CDN$0.005 per Share

TORONTO, July 28, 2020 - First Quantum Minerals Ltd. (“First Quantum” or “the Company”) (TSX:FM) today announced that its Board of Directors has approved an interim dividend of CDN$0.005 per share in respect of the financial year ending December 31, 2019.

The dividend will be paid on September 21, 2020 to shareholders of record on August 28, 2020.

The Company has established a Dividend Reinvestment and Share Purchase Plan (the "Plan") for its Canadian resident shareholders ("Eligible Shareholders"). The Plan enables Eligible Shareholders to reinvest the cash dividends paid on all or a portion of their Common Shares into additional Common Shares, which will be issued at 97% of the Average Market Price (as defined in the Plan) and provides the opportunity to make optional cash purchases of additional Common Shares on a semi-annual basis, on dividend payment dates.

To participate in the Plan, registered Eligible Shareholders must deliver a properly completed enrolment form to Computershare Trust Company of Canada ("Computershare") (in its capacity as "Plan Agent" under the Plan), as directed under the Plan, by no later than 4:00 p.m. Eastern time on the fifth business day immediately preceding a dividend record date in order for the cash dividend to which such record date relates to be reinvested under the Plan.

Additional information on the Plan is available at: www.investorcentre.com/first-quantum

The dividends paid are considered eligible dividends for Canadian tax purposes.

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

North American contact: Lisa Doddridge, Director, Investor Relations
Tel: (416) 361-6400 Toll-free: 1 (888) 688-6577

United Kingdom contact: Clive Newall, President
Tel: +44 7802 721663
E-Mail: info@fqml.com