Ivanhoe Electric Inc. (NYSE: IE) (TSX: IE) Executive Chairman, Robert Friedland and President and Chief Executive Officer, Taylor Melvin are pleased to announce the full exercise and closing on October 27, 2025, of the underwriters’ option to purchase an additional 1,500,000 shares of Ivanhoe Electric’s common stock at a public offering price of $15.00, pursuant to the previously announced and completed underwritten public offering of 10,000,000 shares of Ivanhoe Electric’s common stock at a public offering price of $15.00 per share. The gross proceeds from the offering, including the proceeds from the exercise of the underwriters’ option, were $172.5 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Ivanhoe Electric.

We intend to use the net proceeds from this offering to complete the remaining payments owed from the purchase of land at our Santa Cruz Copper Project in Arizona, to fund early development activities at the Santa Cruz Copper Project, to fund exploration activities at our current projects and joint ventures, and for other working capital and general corporate purposes.

BMO Capital Markets acted as lead book-running manager of the offering. J.P. Morgan and National Bank of Canada Capital Markets acted as book-running managers of the offering.

A registration statement on Form S-3 (No. 333-273195) relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and was automatically declared effective on July 10, 2023. The shares being offered in this offering were offered by means of a prospectus supplement and accompanying prospectus relating to the offering that form a part of the registration statement. The final prospectus supplement relating to the offering was filed with the SEC on October 22, 2025, and is available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, email: bmoprospectus@bmo.com.

The final MJDS prospectus supplement relating to and describing the terms of the offering was filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada (except Québec) on October 22, 2025 and copies of the final MJDS prospectus supplement and accompanying final base MJDS prospectus relating to the offering may be obtained from the underwriters and will be available under Ivanhoe Electric’s profile on SEDAR+ at www.sedarplus.ca.

In obtaining the approval of the Toronto Stock Exchange of the Offering, Ivanhoe Electric relied on the exemption set forth in Section 602.1 of the TSX Company Manual available to “Eligible lnterlisted Issuers”, since Ivanhoe Electric’s common stock is listed on the NYSE American and had less than 25% of its overall trading volume occurring in Canada during the 12 months prior to launch of the Offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Ivanhoe Electric

We are a U.S. company that combines advanced mineral exploration technologies (Typhoon™ and Computational Geosciences Inc.) with electric metals exploration projects predominantly located in the United States, headlined by the Santa Cruz Copper Project in Arizona. Our mineral exploration efforts focus on copper as well as other metals, including nickel, vanadium, cobalt, platinum group elements, gold, and silver. We also operate a 50/50 joint venture with Saudi Arabian Mining Company Ma’aden to explore for minerals on ~48,500 km² of underexplored Arabian Shield in the Kingdom of Saudi Arabia.