Letter Provides Increased Potential Debt Financing from $825 Million Included in US EXIM’s April 2025 Letter of Interest

Ivanhoe Electric Inc. (NYSE American: IE) (TSX: IE) Executive Chairman Robert Friedland and President and Chief Executive Officer Taylor Melvin are pleased to announce that Ivanhoe Electric has received a Preliminary Project Letter from the Export-Import Bank of the United States for potential debt financing of $1.1 billion to support development of Ivanhoe Electric’s advanced-stage Santa Cruz Copper Project in Arizona. The PPL is an increase from US EXIM’s original $825 million of potential funding support stated in its April 2025 Letter of Interest (refer to Ivanhoe Electric’s April 15, 2025, news release).

The PPL marks the completion of US EXIM’s preliminary due diligence on the Santa Cruz Copper Project and is a key step in US EXIM’s financing process that commenced with the April 2025 Letter of Interest.

Mr. Friedland commented: “Following President Donald J. Trump’s supportive announcement at the American Mining Roundtable in Washington on August 7, 2026, we are grateful to receive US EXIM’s Preliminary Project Letter in support of our Santa Cruz Copper Project. Our country has entered an extraordinary era of demand growth for copper, which is central to all forms of electricity generation, transmission and consumption as well as advanced manufacturing, artificial intelligence, and our national security. At Santa Cruz, we are building a modern American copper mine capable of producing 99.99% pure copper metal, without a smelting process, to support American industry and supply chain security. We appreciate US EXIM’s strong support and will continue to work together as we develop our Santa Cruz Project into America’s next major copper producer.”

Mr. Melvin commented: “Receiving our PPL from US EXIM is a major milestone in our project financing process, following a period of strong collaboration and due diligence since we received our initial Letter of Interest from US EXIM in April 2025. We appreciate the resources that US EXIM has devoted to our financing process and look forward to working together with the outstanding team at US EXIM towards completion of our debt financing facility.”

Ivanhoe Electric applied for debt funding under US EXIM’s Make More in America Initiative, which supports qualifying domestic projects to expand U.S. production capacity and strengthen critical domestic supply chains.

The PPL does not constitute a financing commitment, and any financing remains subject to completion of EXIM Bank’s review and approval process. The Company is anticipating final US EXIM Board consideration during the spring of 2027.

Updated Santa Cruz Preliminary Feasibility Study Expected in September 2026

Ivanhoe Electric expects to complete the updated Preliminary Feasibility Study for the Santa Cruz Copper Project in September 2026. The updated study will incorporate the plans for underground mine access using the Robbins Crossover XRE tunnel boring machine, manufactured by The Robbins Company of Solon, Ohio, and associated material handling system, together with other engineering and development work completed since publication of the 2025 Preliminary Feasibility Study.

About Ivanhoe Electric

We are a United States-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. Our wholly owned assets are located in the United States, led by our advanced-stage Santa Cruz Copper Project on private land in Arizona. We operate exploration joint ventures and alliances in Saudi Arabia with Maaden, in Chile with Sociedad Química y Minera de Chile (“SQM”), and in the United States with BHP. We use our powerful Typhoon™ geophysical surveying system, together with advanced data analytics software provided by our subsidiary, Computational Geosciences Inc. to accelerate and de-risk the mineral exploration process in the search for new deposits of critical metals that may otherwise be undetectable by traditional exploration technologies. We believe the United States is significantly underexplored and has the potential to yield major new discoveries of critical metals.

We are committed to the establishment of strong relationships with our local communities and the responsible development of our projects by incorporating best practices for health, safety and environmental standards, water management, protection of local cultural heritage and biodiversity, and minimizing our environmental footprint.