Mr. Robert Friedland reports

IVANHOE ELECTRIC STRENGTHENS MANAGEMENT TEAM WITH ADDITION OF MICHELLE LAMMERS AS CHIEF OPERATING OFFICER AND DANIEL WORTHY AS SENIOR VICE PRESIDENT OF OPERATIONS

Ivanhoe Electric Inc. has added two experienced mining professionals to the executive management team of Ivanhoe Electric. Michelle Lammers will join as chief operating officer of the company, and Daniel Worthy will join as senior vice-president, operations, and general manager for the Santa Cruz copper project in Arizona. The effective date for both Ms. Lammers and Mr. Worthy is Sept. 1, 2026.

Ms. Lammers joins Ivanhoe Electric after more than 20 years with Tucson-based Asarco LLC (the American Smelting and Refining Company). Asarco, a U.S. subsidiary of Grupo Mexico, is an integrated copper mining, smelting and refining company with approximately 1,700 employees. Asarco operates three copper mining operations in Arizona and owns a smelter in Arizona and a copper refinery in Texas. Ms. Lammers began her career with Asarco in 2001 as a metallurgical engineer and progressed through various operational, project development and project leadership roles. She served as general manager of the Ray mine and project manager for the Mammoth heap-leach facility at the Silver Bell mine in Arizona. Ms. Lammers's most recent role is operations director (United States), with responsibility for Asarco's U.S. mining operations, the Copper Basin Railway infrastructure system, and operational development and continuous improvement programs across the company's assets.

Mr. Worthy joins Ivanhoe Electric from Nevada Gold Mines, a joint venture between Barrick and Newmont created in 2019. Nevada Gold Mines is the largest integrated gold-producing complex in the world. Mr. Worthy has over 20 years of experience across large-scale underground and open-pit operations and project development. He was most recently the general manager, technical services, at Nevada Gold Mines and previously served as general manager of the Cortez mine in Nevada and the Hemlo mine in Ontario, Canada. His extensive underground mining experience includes serving as manager of underground mining at Leeville, Cortez Hills and Goldrush mining operations in Nevada and various leadership roles with Gold Fields in Australia.

As general manager, Mr. Worthy will have day-to-day responsibility for all operating activities at the Santa Cruz copper project in Arizona. He will lead the site team through construction, commissioning, ramp-up and operations, with responsibility for safety, contractor performance, work force development and overall site execution.

Ms. Lammers and Mr. Worthy will work closely with Glen Kuntz, who will continue his leadership of the engineering and design activities for the project, including the completion of the updated preliminary feasibility study, which is expected to be completed in September. With the addition of Ms. Lammers and Mr. Worthy, Ivanhoe Electric has built a team of experienced mining leaders to drive the detailed engineering, construction and operation of the Santa Cruz copper project in Arizona.

Executive chairman Robert Friedland commented: "It takes exceptional people to build mines, and, with the addition of Michelle Lammers and Dan Worthy, we are adding over 40 years of leadership and operations experience as we transition our Santa Cruz copper project from engineering into construction and, ultimately, production. With Michelle and Dan working alongside Glen Kuntz and his engineering professionals, we have a stronger leadership team to advance our Santa Cruz project. Michelle and Dan have demonstrated their abilities to lead large-scale copper operations, bulk underground mining operations and development projects in the United States. They bring a strong track record of successful, operations-focused leadership to guide our team as we build America's next large-scale copper producer that will support American energy and technology infrastructure, supply chain security, and national defence."

President and chief executive officer Taylor Melvin commented: "We are excited to add Michelle and Dan to our leadership team at Ivanhoe Electric. Their decades of combined operating experience are the perfect complement to the excellent work completed to date by Glen Kuntz and his team of engineering professionals. We have built an experienced, disciplined and safety-focused team to advance our modern, high-grade Santa Cruz copper project in Arizona though the preliminary feasibility study update and into construction. Michelle and Dan's decision to join Ivanhoe Electric is a testament to the high quality of our existing team and the exciting potential of our Santa Cruz project. I look forward to working with Michelle and Dan."

Santa Cruz copper project

The Santa Cruz copper project is an advanced-stage, high-grade underground copper project located entirely on private land in Arizona. Santa Cruz is designed to use heap leaching and solvent extraction/electrowinning to produce 99.99-per-cent-pure copper cathode on site without the need for smelting. The project's updated preliminary feasibility study (PFS) is on track for completion in September, 2026. The updated PFS will incorporate the engineering and mine access design associated with the company's previously announced purchase of a Robbins crossover tunnel boring machine (refer to Ivanhoe Electric's May 11, 2026, news release).

About Ivanhoe Electric Inc.

Ivanhoe Electric is a U.S.-based, technology-driven minerals exploration and development company with a focus on copper and other critical metals vital to electric transmission and generation, manufacturing, infrastructure development, technology and national security. Ivanhoe Electric's wholly owned assets are located in the United States, led by the company's advanced-stage Santa Cruz copper project in Arizona. Ivanhoe Electric operates exploration joint ventures and alliances in Saudi Arabia with Maaden, in Chile with Sociedad Quimica y Minera de Chile (SQM) and in the United States with BHP. Ivanhoe Electric uses its powerful Typhoon geophysical surveying system, together with advanced data analytics software provided by its subsidiary, Computational Geosciences Inc. (CGI), to accelerate and derisk the mineral exploration process in the search for new deposits of critical metals that may otherwise be undetectable by traditional exploration technologies. Ivanhoe Electric believes the United States is significantly underexplored and has the potential to yield major new discoveries of critical metals.

Ivanhoe Electric is committed to the establishment of strong relationships with its local communities and the responsible development of the company's projects by incorporating best practices for health, safety and environmental standards, water management, protection of local cultural heritage and biodiversity, and minimizing the company's environmental footprint.

We seek Safe Harbor.