Ivanhoe Electric : November 2023 Corporate Presentation November 2023

NYSE/TSX: IE

Corporate Presentation | November 2023

Ivanhoe Electric - Unique Investment Opportunity

Founded by Executive Chairman, Robert Friedland

Experienced executive management team

Combination of advanced technologies and electric metals opportunities

High-quality portfolio of electric metals assets in the United States, highlighted by Santa Cruz (AZ), Tintic (UT) and Hog Heaven (MT)

Experienced exploration team focused on identifying electric metals deposits

Well-positioned to benefit from US energy transition and favorable long-term fundamentals for copper

US-Based, Electric Metals Exploration Company with Significant

Proprietary Technology Platform

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Experienced Executive Management Team

Robert Friedland

Founder, Executive Chairman

Industry-leading company

builder, entrepreneurial explorer and technology innovator

Quentin Markin

EVP, Business Development

and Strategy Execution

23 years as mining and M&A lawyer at Stikeman Elliott, including 15 years as Partner

Graham Boyd

SVP, Exploration

16+ years as geologist, part of the Ivanhoe team that discovered the Merlin deposit in Australia

Taylor Melvin

President & CEO

20+ years combined with

J.P. Morgan investment banking and Freeport-McMoRan

Jordan Neeser

Chief Financial Officer

Former Group Controller and

Director, Business Development

at First Quantum and CFO at

Gold Standard Ventures

Cassandra Joseph

General Counsel and Corporate

Secretary

20+ years as legal professional in US mining industry

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Proprietary Technology Platforms - TyphoonTM, CGI, & VRB

TyphoonTM

Accurate and powerful proprietary geophysical survey technology based on I-Pulse technology

Successfully used to accelerate the exploration process to lower costs

Potential to discover deposits otherwise thought to be undetectable

Computational

Geosciences Inc. (CGI)

Advanced data analytics, geophysical modeling and artificial intelligence for water, oil and minerals discoveries

Only product that can process the full spectrum of geophysical datasets produced by the TyphoonTM system into 3D images

Proven grid-scale proprietary battery technology

Low-costion-exchange membrane, long-life electrolyte formulation and innovative flow cell design

Proven commercial-scale product with over 500 MWh installed or in development

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US-Focused Portfolio Provides Exposure to Major Discovery Potential

HOG HEAVEN, MT

Cu-Au-Ag

UNITY, OR

Cu

TINTIC, UT

Cu-Au-Ag

WHITE HILL, NV

Cu

LINCOLN, UT

Cu-Au-Ag

BITTER CREEK, AZ

Cu-Au

SANTA CRUZ, AZ

Cu

Denotes Active Drilling Site

CAROLINA, NC

Cu-Au

Other Global Opportunities

IE / Ma'aden Exploration JV, Saudi Arabia

Sama Ni-Cu-Co-PGE-Au, Ivory Coast

Cordoba / San Matias Cu-Au-Ag, Colombia

Kaizen / Pinaya Cu-Au, Peru

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Santa Cruz Copper Project

Located on Private Land, West of Casa Grande, Arizona

5,975 acres of private land encompassing

the entire project

Acquired land includes associated water rights

Option to acquire all mineral titles contiguous with surface land

Excellent access to nearby rail, interstate highways and electric transmission lines

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Santa Cruz IA: Potential to be a Significant Copper Producer in the US with Attractive Operating Costs

Santa ru

ro e

ted

opper

rodu tion and

o t

elati

e to

t

er

SAMine

it

aid

rodu tion reater t

an

Mlb

Source: Wood Mackenzie, 2023 (single year 2022 data shown, the Santa Cruz 2023 IA has not been reviewed by Wood Mackenzie).

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Santa Cruz IA: Phased Approach Minimizes Initial Capital Requirements

Twin declines to access high- grade copper mineralization

Each 4.3 km long

1.9 km extension in Year 8 to access lower portion

LOM 105.2 Mt mineralized material mined at 1.58% copper

East Ridge: 9.8 Mt at 1.76% copper

Santa Cruz: 88.6 Mt at 1.60% copper

Santa Cruz Exotic: 1.9 Mt at 2.66% copper

4.9 Mt low-grade (0.56% copper) to access mineralization

Standard longhole stoping and drift and fill methods with paste backfill for support

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Santa Cruz IA: Base Case 70% Renewable Power to Result in Low Estimated CO2e per Tonne Copper - " lean opper"

2022 Total Intensity (kg CO2e per tonne Paid CuEq)

Santa Cruz IA Base Case 490 kg CO2e per tonne Cu

2022 Scope 1 and Scope 2 emissions

Centile (%)

Source: Wood Mackenzie; 2023 (single year 2022 data shown, the Santa Cruz 2023 IA has not been reviewed by Wood Mackenzie)

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Tintic - Technology-Enabled Exploration in a Historic Mining District

Copper, gold and silver project

Historic district, consolidated land

60 km south of Bingham Canyon

Identified TyphoonTM anomalies appear similar in scale and geologic characteristics to Bingham Canyon

Renewable energy integration opportunity

Portland

MONTANA

OREGON

Boise

IDAHO

WYOMING

	Salt Lake City
NEVADA	Provo
	TINTIC	Denver
CALIFORNIA	COLORADO
UTAH

Las Vegas

Los Angeles

ARIZONA

NEW MEXICO

Phoenix

Project

Cities

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