19 slides from Ivanhoe Mines Ltd. Class A's earnings presentation, Nov 14, 2022
Slide 1: Q3 2022 Results
Q3 2022 RESULTS NOVEMBER 14, 2022 www.ivanhoemines.com | TSX: IVN; OTCQX: IVPAF
Slide 2: Disclaimer and Forward-Looking Statements
DISCLAIMER AND FORWARD-LOOKING STATEMENTS The information contained in this presentation and other information furnished by or on behalf of Ivanhoe Mines Ltd. (“Ivanhoe”) has been prepared to assist the reader in understanding the business and financial results of Ivanhoe for the periods indicated a
Slide 3: Q3 2022 Highlights
Q3 2022 HIGHLIGHTS Marna Cloete, President 3
Slide 4: Q3 2022: Kamoa-Kakula Approaches 400 ktpa Copper
Q3 2022: KAMOA-KAKULA APPROACHES 400 KTPA COPPER 97.8kt copper production Phase 2 commercial production in April 2022; combined copper production from Phase 1 and 2 to reach ~450kt by Q2 2023 following de-bottlenecking program 93.8kt payable copper sales Lower end of FY 2022 production guidance incr
Slide 5: ESG Performance at a Glance
ESG PERFORMANCE AT A GLANCE Approx. 900 community Bulk earthworks now Over 100 members of An additional farmers producing high- are underway for the local small-medium 50 boreholes of quality food under the Kamoa Centre of enterprises have potable water to be attended Ivanplats’ Kamoa Sustainable Ex
Slide 6: Q3 2022 Financial Overview
Q3 2022 FINANCIAL OVERVIEW David van Heerden, Chief Financial Officer 6
Slide 7: Kamoa-Kakula: Quarterly Performance
KAMOA-KAKULA: QUARTERLY PERFORMANCE (Figures shown on 100% basis for Kamoa-Kakula) Significant increase in payable copper sold to 93.8kt driven by Copper Sold (kt) the ramp up of the Phase 2 concentrator C1 cash costs stable in Q3 with ongoing elevated logistics charges 85.8 93.8 Negative adjustment
Slide 8: Kamoa Holding Operating Profit
KAMOA HOLDING OPERATING PROFIT Shown on 100% basis attributable to Kamoa Holding (All values in US$ million) Q3 Q2 Q3 93.8 kt copper sales 2022 2022 2021 #039;000 #039;000 #039;000 $254 million Revenue from contract receivables 570,504 699,381 355,022 EBITDA Remeasurement(1) (110,031) (205,248) (12,438) Ivan
Slide 9: Qi 2022 Q2 2022
$4.51/Ib. $4.34/Ib. Q3 2022 Qi 2022 Q2 2022 EBITDA/ EBITDA Margin (US$ million / %) a = =o 7 Q2.2022 Q3 2022 v Een AVS js Q1 2022 YTD 2022 aS 1 a Q1 2022 Q2 2022 Q3 2022 YTD 2022 tM —— Tt = Capital Expenditure (US$ million) == rs y x . . = 4 Q1 2022 Q2 2022 Q3 2022 YTD 2022 { ~ —— 2 Tan So — -———h).
Slide 10: Kamoa-Kakula C1 Cash Cost
KAMOA-KAKULA C1 CASH COST (All values in US$ per pound of payable copper) Higher logistics charges and other inflationary pressures continued in the Breakdown of C1 Cash Cost (US$ per lb.) third quarter Q1 2022 Q2 2022 Q3 2022 2022 full-year C1 cash cost guidance 0.56 range tightened to $1.35/lb. to
Slide 11: Ivanhoe Mines Q3 Financial Highlights
IVANHOE MINES Q3 FINANCIAL HIGHLIGHTS (All values in US$ million) ($4) ($9) $41 ($27) ($14) $4 $34 $24 IVN's share of Finance income Western Foreland General Gain / (Loss) on Finance costs and Deferred tax Profit for the profit from Kamoa from Kamoa Exploration administrative fair valuation of other
Slide 12: Strong Balance Sheet Supports Growth
STRONG BALANCE SHEET SUPPORTS GROWTH Cash and cash equivalents of $663 million Consolidated working capital of $686 million Total assets of $3.8 billion Total debt of $989 million, including $575 million at 2.50% convertible senior notes, due 2026 with possible earlier redemption and deferred revenu
Slide 13: Operations & Project Update
OPERATIONS & PROJECT UPDATE Alex Pickard, VP Corporate Development Marna Cloete, President 13
Slide 14: Record quarterly production at Kamoa-Kakula
Record quarterly productibn of 97. kt of p: == Ore tonnes milled (000’s tonnes) Ses coppol ore ade processed (%) copper in Q3 2022, with record monthly a b 5.96% i 5.91% production of 33. okt Of copper in September} o— os. 48% 5.60% a Lower end of FY 2022 prourich guidance further increased to 325kt
Slide 15: Kamoa-Kakula Phase 3: Construction Well Underway
KAMOA-KAKULA PHASE 3: CONSTRUCTION WELL UNDERWAY Civil construction works underway for Phase 3 expansion and direct-to-blister flash smelter; both expected to be commissioned in Q4 2024 Basic engineering design for Kamoa-Kakula’s Phase 3 expansion complete; results to be included in the updated tech
Slide 16: Exploration Activities
EXPLORATION ACTIVITIES WESTERN FORELAND, DRC • Regional, large-scale exploration drilling targeting Kamoa-Kakula-style copper mineralization • Drilling at Makoko West targeting extension of Makoko South • Regional stratigraphic drilling at Lupemba • Drill testing at Mushiji (3 km north) on the Kamoa
Slide 17: Platreef: Underground Development Underway
PLATREEF: UNDERGROUND DEVELOPMENT UNDERWAY Underground mine works advancing well, with over 300 metres of lateral development completed towards the location of the first ventilation shaft Phase 1 processing plant construction commenced Construction commenced on Platreef’s 5-MW solar- power plant; co
Slide 18: Kipushi: In Construction
KIPUSHI: IN CONSTRUCTION 2022 Feasibility Study Results at Different Zinc Prices: Breaking-of-ground ceremony in August marked the start of construction activities NPV8% (US$ Billion) IRR (%) 97% 83% First concrete pour took place in October 2022; 68% 41% 47% 54% bulk of long-lead items for the proc
Slide 19: Q3 2022 Results – Management Q&A
www.ivanhoemines.com | TSX: IVN; OTCQX: IVPAF Q3 2022 RESULTS MANAGEMENT Q&A 19