Ms. Marna Cloete reports

IVANHOE MINES REPORTS KIPUSHI MINE PRODUCED A RECORD 25,677 TONNES OF ZINC IN MAY, EQUIVALENT TO 308,000 TONNES OF ZINC ANNUALIZED

Ivanhoe Mines Ltd.'s Kipushi mine in the Democratic Republic of the Congo achieved a monthly production record of 25,677 tonnes of zinc in concentrate in May.

During the month, the concentrators milled a record 72,003 tonnes of ore at an average recovery of 93 per cent, with an average plant feed grade of 36.2 per cent zinc. The production record is 12 per cent higher than the previous record of 22,968 tonnes of zinc, which was set in January, 2026.

Year-to-date zinc production totals approximately 110,000 tonnes of zinc. Annualized, this is equivalent to approximately the midpoint of the 2026 production guidance range of 240,000 to 290,000 tonnes of zinc.

During May, 85,811 tonnes of ore were mined and hoisted to the surface. At the end of May, approximately 12,000 tonnes of ore were stored in surface, high-grade run-of-mine stockpiles, at a grade of approximately 37 per cent zinc. The lower-grade stockpiles contain 254,000 tonnes of ore with an average grade of approximately 22 per cent zinc.

Construction of Kipushi's tailings storage facility expansion is nearing completion.

Construction of the Kipushi mine's second tailings storage facility is over 90 per cent complete, with the first deposit of tailings expected from October, 2026. Lining of the new TSF's paddock 2B extension, along with the existing TSF, is designed to be compliant with Global Industry Standard on Tailings Management.

About Ivanhoe Mines Ltd.

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa: the Kamoa-Kakula copper complex in the DRC, the ultrahigh-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the Tier 1 Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa.

Ivanhoe Mines is exploring for copper in its highly prospective, 54- to 100-per-cent-owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula copper complex, including the high-grade discoveries in the Makoko district. Ivanhoe is also exploring for new sedimentary copper discoveries in new horizons, including Angola, Kazakhstan and Zambia.