Ivanhoe Electric (IE) Investor presentation summary

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.

• Led by an experienced executive team with a strong track record in mining and project development.

• 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.

• Utilizes a heap-leach process, eliminating the need for smelting and supporting U.S. supply chain security.

• Located in Arizona's industrial corridor with access to key infrastructure and streamlined permitting.

• Projected to begin copper production in the second half of 2028, with a 23-year mine life.

Financial and operational metrics

• Market capitalization of $1.9 billion and pro forma cash of $313 million as of April 2026.

• After-tax NPV8% at $5.00/lb copper is ~$2.1B, with a 25% after-tax IRR; at $4.25/lb copper, NPV8% is $1.4B and IRR is 20%.

• Initial capital expenditures estimated at $1.24B, with unit cash operating costs of $1.32/lb.

• Life-of-mine copper production estimated at ~1.4 million tonnes, with average recoveries of 92%.