James Robert MOFFETT - Wealth-X

1 SECRET91ed36ca-6e28-4c83-adc1-651540633a d2 James Robert MOFFETTD ossier20 Aug 2013 The materials herein are solely for member's internal business purposes to assist in the acquisition and retention of member's clients ( permittedpurpose). Except as required by the law, member will not reveal these materials to any person or entity whose data is contained herein or to personsacting on their behalf. To the maximum extent permitted by law, Wealth-X excludes and disclaims all conditions, terms, representations andwarranties relating to the subject matter hereof, whether express or implied, including the implied warranties of satisfactory quality and fitness for aparticular purpose. While every attempt is taken to ensure that these materials are kept up to date, Wealth-X cannot guarantee that informationcontained in them in relation to any person or entity will not have changed or be Aug 201391ed36ca-6e28-4c83-adc1-651540633ad2 Page 2 of 8 James Robert MOFFETTP rimary PositionChairmanAge75 Primary CompanyFreeport-McMoRan Copper & GoldBirthday16 Aug 1938 Estimated Net WorthAt least $670 millionMarital StatusMarriedEstimated Liquid AssetsAt least $360 millionReligionChristianWealth TrendMajority of fortune fluctuates withthe share price ofFreeport-McMoRan Copper remainder with the broadequity and bond Bob MoffettResidencesNew Orleans, Louisiana, United StatesAustin, Texas, United StatesHometownHouma, Louisiana, United States BiographyHouma, Louisiana native bagged groceries, delivered newspapers.

2 Pumped gas and sold shoes to help support his family as a teenager. He graduated fromThe University of Texas at Austin on a full football scholarship in 1961 and earned a Master's degree in Geology from Tulane University in 1963. He worked inthe oil and gas industry as a roustabout and later a consulting geologist from 1964 to 1969. In 1969, MOFFETT , Ken McWilliams and Mack Rankin foundedMcMoRan Oil & Gas, a wildcat exploration firm. In 1981, McMoRan Oil & Gas merged with Freeport Minerals Company to form Freeport-McMoRan. It becamethe holding company for Freeport-McMoRan Copper Company and Freeport-McMoRan Resource Partners, which operated its sulfur and fertilizer served in various senior executive positions in the parent company and each of its subsidiaries, and was a major shareholder. In 1988, MOFFETT andFreeport-McMoRan Copper Company discovered the Grasberg copper and gold mine in Papua, Indonesia, home of the world's largest recoverable copper andgold reserves.

3 Freeport-McMoRan Copper Company was renamed Freeport-McMoRan Copper & Gold in 1991; in 1995, it was spun-off as an independentcompany from Freeport-McMoRan, and a separate firm, McMoRan Exploration, was formed by the merger of McMoRan Oil & Gas and Freeport-McMoRanResource Partners. The former parent company, Freeport-McMoRan, and its sulfur and fertilizer business were acquired for a reported $800 million by IMCG lobal, a fertilizer producer, in 1997. MOFFETT became Co-Chairman of McMoRan Exploration (MMR), which focused on oil & gas exploration, in 1995, andChairman of Freeport-McMoRan Copper & Gold (FCX), which focused on mining, in 1997; the two remained separate firms, listed separately on the New YorkStock Exchange. In 2007, FCX acquired copper miner Phelps Dodge for $ billion, forming the world's largest publicly traded copper firm. Meanwhile, MMR,where MOFFETT was President and CEO, obtained oil & gas concessions for ultra-deep wells in shallow waters off Louisiana's Gulf coast.

4 These costly projectsfaced repeated delays in 2011 and 2012, battering MMR's share price. In 2013, MOFFETT orchestrated the re-merger of FCX and MMR, which involved theformer acquiring the latter for a reported $ billion in cash plus assumption of debt, as well as acquiring Plains Exploration & Production, a major MMRshareholder, for $ billion in cash plus $ billion in FCX stock, plus assumption of $ billion in debt. MOFFETT is currently a shareholder of StratusProperties, a spin-off from Freeport-McMoRan, and the Chairman of Freeport-McMoRan Copper & Aug 201391ed36ca-6e28-4c83-adc1-651540633ad2 Page 3 of 8 Career HistoryCompanyTypePosition HeldYearStartedYear EndedRemarksMcMoRan ExplorationPublic CompanyCo-Chairman19952013 Develops oil and natural gas reserves in theGulf Coast. MOFFETT has been a Co-Chairmanof the company since it was formed in 1995.

5 In2010, MOFFETT became Co-Chairman, Presidentand CEO of the company. In 2013, thecompany was acquired by Freeport-McMoRanCopper & Gold for a reported $ billion incash plus assumption of PropertiesPublic CompanyShareholder1992 Freeport-McMoRan spun off its real estateinterests into an independent entity, nowknown as Stratus Properties; primarily a realestate development company. MOFFETT is ashareholder of the Copper &GoldPublic CompanyChairman1969 Publicly-traded firm engages in the exploration,mining and refining of copper, gold, silver andmolybdenum. Founded as Freeport Sulphur in1912; renamed Freeport Minerals Companylater. In 1969, MOFFETT , Ken McWilliams andMack Rankin founded McMoRan Oil & Gas. In1981, McMoRan Oil & Gas merged withFreeport Minerals Company to formFreeport-McMoRan. Freeport-McMoRanCopper Company was renamedFreeport-McMoRan Copper & Gold in 1991,and spun-off as an independent company,listed on the New York Stock Exchange asFCX, in 1995.

6 MOFFETT served in various seniorexecutive positions in former parent companyFreeport-McMoRan, Freeport-McMoRanCopper & Gold, and other subsidiaries andbusiness units. Since 1997, he has beenChairman of Freeport-McMoRan Copper &Gold. It has expanded significantly, acquiringcopper miner Phelps Dodge in 2006, and oil &gas firms McMoRan Exploration and PlainsExploration & Production in 2013. Wealth AnalysisEstimated Net WorthAt least $670 millionLiquid EstimateAt least $360 million List of AssetsClassValueRemarksAlternative AssetsAt least $20 millionEstimated value of Bombardier Global 6000private AssetsAt least $5 millionEstimated value of property in Austin, AssetsAt least $5 millionEstimated value of property in New Orleans, AssetsAt least $15 millionEstimated value of Dassault Falcon 2000 ExEASy business & OtherAt least $360 millionEstimated value of proceeds from previoussalaries, bonuses, dividends, investments andstock StockAt least $260 millionEstimated value of stake inFreeport-McMoRan Copper & StockAt least $ millionEstimated value of stake in Stratus Properties.

7 Bombardier Private Jet ( %) Property in Texas ( %) Property in Louisiana ( %) Dassault Falcon Private Jet ( %) Cash & Others ( %) Freeport-McMoRan Copper & Gold ( %) Stratus Properties ( %)SECRET20 Aug 201391ed36ca-6e28-4c83-adc1-651540633ad2 Page 4 of 8 Interesting FactsIn 1988, Freeport-McMoRan discovered the Grasberg ore complex in Papua, Indonesia, containing the world's largest recoverable reserves of copper andgold; the company is reportedly the largest taxpayer to the Indonesian government. To secure Freeport-McMoRan's concession, MOFFETT reportedly personallycourted Indonesia's longtime dictator, President Suharto, and his associates for years. Many sources link the company to corruption in Indonesia; it is allegedto have paid for personal holidays and children's college educations for senior Indonesian officials to obtain the was born in Houma, Louisiana and raised in Houston, Texas.

8 His father was an oil field worker. His parents divorced when he was very young. He andhis sister moved to Houston with his mother, who worked as a department store credit clerk. As a teenager, MOFFETT worked several odd jobs to help support hisfamily including bagging groceries, delivering newspapers, pumping gas and selling graduated from the University of Texas at Austin in 1961, while on a full football scholarship, with an award for excellence in geology. In 1963, hereceived a Master's degree in geology from Tulane University. He also holds an Honorary Doctor of Science degree from Louisiana State University and aDoctor of Financial Economics, Honoris Causa, degree from the University of New Orleans. He was awarded the "Distinguished Alumnus Award" by theUniversity of Texas in November 2011, the United Steelworkers union sent a letter to the Department of Justice accusing Freeport-McMoRan Copper & Gold subsidiaryFreeport Indonesia of bribery in relation to payments made to the Indonesian police, and requesting a Foreign Corrupt Practices Act responded that the payments were for government-provided security services at its Papua, Indonesia mine sites, and included "mealmoney" for police officers providing security.

9 The firm maintains this arrangement is legal under the Voluntary Principles on Security and Human Rights, a setof guidelines created by the United States and Britain in 2000 for the extractive industry dealing with security issues. It is unknown whether the of Justice undertook any kind of investigation in response. No charges appear to have been filed against the company in this attended the University of Texas at Austin on a full football scholarship, and played left tackle for Longhorn Coach Darrell Royal, who later became be successful, MOFFETT 's advice to young people, "Learn how to do something better than anyone else. Work hard and stay clean, and the success you wantwill be automatic." MOFFETT defines success as "reaching a point in life when you can help other people to be successful."In 2007, MOFFETT spearheaded Freeport-McMoRan Copper & Gold's $ billion acquisition of Phelps Dodge Corporation, one of the world's largest miningmergers, which made the combined company the largest publicly traded copper mining firm in the 2011, MOFFETT and his wife, Lauree, arranged a barbeque lunch at their home for members of the University of Texas Longhorn Foundation.

10 The foundationsupports the athletics department of the University of Texas, where MOFFETT played football as an was an active Boy Scout in his teens; the James R. MOFFETT Scout Service Center in Metairie, Louisiana, was named after company's name 'McMoRan' is a play on the names of the three co-founders, Kennon McWilliams Jr. ("Mc"), James R. MOFFETT ("Mo"), and Rankin Jr.("Ran").Freeport-McMoRan Copper & Gold has been named the "Most Philanthropic Company in America" by the BusinessWeek Magazine. MOFFETT received the"Horatio Alger Association of Distinguished Americans Award" in 1990 and the 2000 "Norman Vincent Peale Award" for exceptional humanitarian contributionsto the society. He became a member of the University of Texas McCombs School of Business Hall of Fame in 2011; is also a member of the American MiningHall of Fame and the Mining Foundation of the Southwest's Mining Greats.