Ivanhoe Electric : May 2026 Corporate Presentation - May 2026

Published: 2026-05-15 08:36:19 ET IE

Published on 05/15/2026 at 08:36 am EDT

ivanhoeelectric.com NYSE American / TSX: IE

MAY 2026

AMERICAN COPPER FOR A STRONGER FUTURE

ivanhoeelectric.com

NYSE American / TSX: IE

AMERICAN COPPER FOR A STRONGER FUTURE

The Preliminary Feasibility Study (Study), entitled "S-K 1300 Preliminary Feasibility & Technical Report Summary, Santa Cruz Copper Project, Arizona," is dated June 23, 2025, and was prepared in accordance with Subpart 1300 and Item 601 of Regulation S-K. The Study was prepared by the following firms: Fluor Canada Ltd. (Fluor), BBA USA Inc. (BBA), KCB Consultants Ltd. (KCB), Met Engineering, LLC (Met), INTERA Incorporated (INTERA), Burns & McDonnell Engineering Company, Inc. (Burns & McDonnell), Geosyntec Consultants, Inc. (Geosyntec), Haley & Aldrich, Inc. (Haley & Aldrich), Life Cycle Geo, LLC (Life Cycle Geo), Paterson & Cooke USA, Ltd. (Paterson & Cooke), Stantec Consulting Services Inc. (Stantec) and Tetra Tech, Inc. (Tetra Tech).

The Study is available on the SEC's EDGAR website as an exhibit to the Current Report on Form 8-K filed by Ivanhoe Electric with the SEC on June 23, 2025. As disclosed on the Form 8-K filed by Ivanhoe Electric with the SEC on May 11, 2026, the Study is being revised to incorporate the use of the Tunnel Boring Machine and is expected to be completed in the third quarter of 2026.

Ivanhoe Electric has also prepared and filed an independent technical report prepared under Canadian National Instrument 43-101 within 45 days of the June 23, 2025 news release. This report is available

on Ivanhoe Electric's website and on its SEDAR+ profile.

For the purposes of Canadian National Instrument 43-101, the independent Qualified Persons responsible for preparing the scientific and technical information disclosed in this Presentation regarding the Study are Todd McCracken, Shane Ghouralal, and David Willock (BBA), Ulises Arvayo (Burns & McDonnell), Subhamoy Dasgupta and Ivan Sanchez (Fluor), Kirk Craig (Geosyntec), Rick Frechette (Haley & Aldrich), Annelia Tinklenberg (INTERA), Jim Casey (KCB), Tom Meuzelaar (Life Cycle Geo), James Moore (Met), Casey Schmitt (Paterson & Cooke), Kim Trapani (Stantec), and Daryl Longwell (Tetra Tech). Each Qualified Person has reviewed and approved the information in this Presentation relevant to the portion of the scientific and technical information for which they are responsible.

Other disclosures of a scientific or technical nature included in this Presentation regarding the Santa Cruz Copper Project, have been reviewed, verified, and approved by Glen Kuntz, P.Geo., who is a Qualified Person as defined by Regulation S-K, Subpart 1300 promulgated by the U.S. Securities and Exchange Commission and by Canadian National Instrument 43-101. Mr. Kuntz is an employee of Ivanhoe Electric.

The Study and 43-101 technical report include relevant information regarding the assumptions, parameters and methods of the mineral resource and mineral reserve estimates on the Santa Cruz Copper Project, as well as information regarding data verification, exploration procedures and other matters relevant to the scientific and technical disclosure contained in this Presentation. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

Disclosures of a scientific or technical nature included in this Presentation pertaining to the Maaden Joint Venture in Saudi Arabia have been reviewed, verified and approved by Charles N. Forster, P.Geo., who is a Qualified Person as defined by Regulation S-K, Subpart 1300 promulgated by the U.S. Securities and Exchange Commission and by Canadian National Instrument 43-101. Mr. Forster is a Senior Advisor to Ivanhoe Electric.

Disclosures of a scientific or technical nature included in this Presentation pertaining to Tintic and Hog Heaven Projects in the USA have been reviewed, verified and approved by Shawn Vandekerkhove, P.Geo., who is a Qualified Person as defined by Regulation S-K, Subpart 1300 promulgated by the SEC and by Canadian National Instrument 43-101. Mr. Vandekerkhove is Director, New Opportunities of Ivanhoe Electric.

Premier U.S.-based Exploration & Development Company Focused on Critical Minerals

Advanced-Stage Santa Cruz Copper Project in Arizona

Technology-Driven Exploration Platform

Exploration Partnerships with Leading Global Mining Companies

Dynamic Portfolio of Exploration Projects in U.S.

Experienced Leadership with Proven Track Record

Strong Balance Sheet & Liquidity to Advance Projects

ROBERT FRIEDLAND

Founder and Executive Chairman

TAYLOR MELVIN

President and Chief Executive Officer

QUENTIN MARKIN

EVP, Business Development and Strategy Execution

JORDAN NEESER

Chief Financial Officer

CASSANDRA JOSEPH

General Counsel and Corporate Secretary

GLEN KUNTZ

SVP, Mine Development

GRAHAM BOYD

SVP, Exploration

LEE SAMPSON

VP, Geophysics

MIKE PATTERSON

VP, Investor Relations & Business Development

LARA SIMS

VP, Health & Safety

PUBLIC MARKET OVERVIEW

Significant Institutional and Insider Ownership

Primary U.S. Listing: NYSE AMERICAN ("IE")

Shares Outstanding: 158 MILLION

Market Capitalization at May 11: $2.4 BILLION

ANALYST COVERAGE

Cash and Equivalents at March 31: $290 MILLION

BMO Capital Markets Andrew Mikitchook Jefferies Christopher LaFemina,

Patricia Hove

Raymond James Judith Elliott

Scotiabank Orest Wowkodaw

Other 36.4%

Founder and Insiders 8.2%

BlackRock 8.8%

T. Rowe 8.0%

Maaden 7.5%

Fidelity

7.4%

Century Vision 6.5%

Alyeska

4.8%

J.P. Morgan Bill Peterson

Cantor Fitzgerald Puneet Singh

SailingStone 2.4%

Global X 2.5%

Vanguard 3.2%

State Street

4.2%

National Bank Financial Andrew Dusome

Ownership source: Bloomberg, FactSet, Company Filings, May 1, 2026. Institutional ownership shown on an aggregated basis by common parent or investment advisor; individual affiliated funds/entities may report separately.

SANTA CRUZ COPPER PROJECT

Advanced, High-Grade Copper Project on Private Land in Arizona

Low Projected Capital Intensity and Operating Costs Advanced Development Timetable

SANTA CRUZ COPPER PROJECT

DISRUPTIVE TECHNOLOGIES

Typhoon Geophysical Surveying System

Computational Geosciences Inc. ("CGI") Data

Inversion Software

VRB USA - Grid-scale Vanadium Redox Flow Batteries

MINERAL EXPLORATION ASSETS

U.S. Portfolio Focused on Critical Metals Exploration 50/50 Joint Venture with Maaden in Saudi Arabia 50/50 Alliance with BHP in Southwest U.S.

50/50 Collaboration with SQM in Chile

DISRUPTIVE TECHNOLOGIES

MINERAL EXPLORATION ASSETS

SANTA CRUZ COPPER PROJECT

High-Grade, Advanced U.S. Copper Project Designed to Produce Copper Cathode

SANTA CRUZ COPPER RESOURCES

Existing Mineral Resources

Provide Expansion Potential

DISRUPTIVE TECHNOLOGIES

Typhoon and CGI Software Unlocking New Opportunities

MINERAL EXPLORATION

U.S. Exploration Assets and Partnerships with Leading Mining Companies Provide Global Opportunities for New Discoveries

Low Initial Capital and Operating Costs

Summary Economics at $4.25/pound Copper

Modern Underground Mine @ ~20,000 Tonnes per Day

On-off Heap Leach Process with High

Copper Recoveries

SX/EW Process to Produce 99.99% Pure Copper cathode onsite

High-grade Mineral Reserves: ~1.5

Million Tonnes Contained Cu @ 1.08%

Significant Leverage to Higher Copper Prices

1Results presented of the 2025 Preliminary Feasibility Study published under U.S. S-K 1300 on June 23, 2025, which is being updated to incorporate use of the Tunnel Boring Machine (see Form 8-K filed on May 11, 2026). The NI 43-101 Technical Report co-filed in Canada included the Study as a Feasibility Study as defined by the Canadian Institute of Mining, Metallurgy and Petroleum; 22024 cash operating costs on a co-product basis for global copper mines, excluding processing facilities as defined by S&P Global Market Intelligence; 3Initial capital expenditures per average tonne of annual paid copper produced during first 15 years of mining; 4Payback period post-construction.

$1.24B

INITIAL CAPITAL EXPENDITURES

$1.32

PER POUND UNIT CASH OPERATING COSTS2

~92%

LIFE OF MINE AVERAGE COPPER RECOVERIES

$17.2

k/tonne

CAPITAL INTENSITY3

$1.4B

AFTER-TAX NPV8%

20.0%

AFTER-TAX IRR

~72kt

1st 15-YEARS' AVERAGE COPPER PRODUCTION

23 Years

MINE LIFE

$240M

AFTER-TAX NPV PER

$0.25/LB CHANGE IN Cu

~1.4MT

LIFE-OF-MINE

COPPER PRODUCTION

$5.0B

LIFE-OF-MINE AFTER-TAX FREE CASHFLOW

4.4 Years

AFTER-TAX PAYBACK PERIOD4

1Inclusive of Reserves. 13

The Robbins Company is a US-based Leader in Tunnel Boring Industry

~ 70 Years of Innovation and Experience with Over 1,000 Projects Completed Globally

Crossover TBM Has Specialized Cutterhead and Advanced Drive System

Transitions Between Mixed-face, Wet and Hard Rock Ground Conditions in Single Drive

Earth Pressure Balance Capabilities

Mitigate Water Inflow

Permitting

Timeline Subject to Receipt of Permits and Project Financing

First Copper Cathode

Construction & Development

2026 2027 2028 2029

1.5 Million Tonnes of Contained Copper in Indicated Resources2

Includes ~0.5 million tonnes of primary sulfides at Santa Cruz Deposit, providing near-mine expansion potential

3.3 Million Tonnes of Contained Copper in Inferred Resources2

Includes ~2.7 million tonnes at Texaco Deposit

East Ridge

Santa Cruz

Texaco

Inferred Resource Domain

Oxide Chalcocite Primary

1Inclusive of Reserves. 2Exclusive of Reserves. 17

~$5001 Million of Liquidity Added Since September 2025 to Fund Early Project Construction

Advanced Project Financing Process

U.S. Export-Import Bank Letter of Interest for $825 Million Received in April 2025

Advancing through full application process

Strong Interest from Commercial Banks

Secured $200 million bank credit facility in December 2025

Group of banks fully engaged in project due diligence including independent engineer

review

Targeting Completion of Project Financing Commitments in 2026

1Includes proceeds from warrant exercise and pro forma estimated after-tax proceeds from sale of stake in non-core asset. 18

TyphoonTM

TYPHOON GEOPHYSICAL SURVEY

TECHNOLOGY

High power and clean signal enables larger and deeper surveys

Able to detect the presence of sulfide mineralization to depths of over 1.5 kilometers

Effectively accelerates the exploration process

COMPUTATIONAL GEOSCIENCES INC. DATA INVERSION SOFTWARE

Industry-leading algorithms for 3D subsurface modeling, and optimized inversions for Typhoon data

Powerful machine-learning software capable of generating rapid inversions (~1 day)

Guides real-time decision-making in field

Disclaimer

Ivanhoe Electric Inc. published this content on May 15, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 15, 2026 at 12:35 UTC.