Ivanhoe Electric (IE) investor relations material

Strategic focus and leadership

• Focuses on critical minerals with an advanced-stage copper project in Arizona and a dynamic U.S. exploration portfolio.

• Employs a technology-driven exploration platform and maintains partnerships with leading global mining companies.

• Leadership team includes experienced executives and technical experts across mining, finance, and legal functions.

• Maintains a strong balance sheet and liquidity to support project advancement.

Santa Cruz Copper Project highlights

• High-grade, modern underground copper project on private land in Arizona, designed to produce 99.99% pure copper cathode via heap-leach, with no smelting required.

• Project benefits from excellent infrastructure access and a short development timeline.

• Life-of-mine copper production estimated at ~1.4 million tonnes over 23 years, with high recoveries and significant leverage to copper prices.

• Initial capital expenditures projected at $1.24 billion, with after-tax NPV8% of $1.4 billion and IRR of 20%.

• Projected to support U.S. industry and supply chain security.

Technical innovation and project development

• Utilizes disruptive technologies such as the Typhoon™ geophysical system and advanced data inversion software for exploration.

• Implements a tunnel boring machine (TBM) for mine access, enhancing safety, reducing permitting needs, and enabling future expansion.

• TBM method replaces traditional roadheader systems with minimal impact on project capital and provides access to additional deposits.

• Updated technical report incorporating TBM expected in Q3 2026.