Slide 1: Corporate Presentation | May 2024
NYSE/TSX: IE Corporate Presentation | May 2024
Slide 2: Ivanhoe Electric – US Electric Metals Exploration Company with Significant Technology Platform
Ivanhoe Electric – US Electric Metals Exploration Company with Significant Technology Platform Advancing the high-grade underground Santa Cruz Copper Project in Arizona Proprietary exploration and energy storage technologies Experienced exploration team focused on portfolio of US electric metals pro
Slide 3: Experienced Executive Management Team
Experienced Executive Management Team Robert Friedland Founder, Executive Chairman Taylor Melvin Jordan Neeser President and Chief Financial Officer Chief Executive Officer Quentin Markin Glen Kuntz EVP, Business Development and Strategy Execution SVP, Mine Development Cassandra Joseph Graham Boyd G
Slide 4: Ivanhoe Electric – Delivering Consistent Execution
Ivanhoe Electric – Delivering Consistent Execution Q1 2023 Major Achievements and Milestones Q1 2024+ Santa Cruz Acquired Santa Cruz Land Entered 2024 with Resource Update Strong Operational Closed and Funded Ma’aden JV Momentum and Ma’aden JV Completed ~84k Meters of Drilling at Santa Financial Str
Slide 5: Proprietary Technology Platforms – Typhoon, CGI, & VRB
Proprietary Technology Platforms – TyphoonTM, CGI, & VRB Computational TyphoonTM Geosciences Inc. (CGI) Accurate and powerful Advanced data analytics, Proven grid-scale proprietary proprietary geophysical geophysical modeling and battery technology survey technology based on artificial intelligence
Slide 6: Santa Cruz Project: High-Grade Copper Resource Entirely on Private Land in Arizona
Santa Cruz Project High-Grade Copper Resource Entirely on Private Land in Arizona 4.7 Mt contained resource at average grade of 1.24% copper 5,975 acres of private land encompassing the entire project Acquired land includes associated water rights Ivanhoe Electric controls all mineral titles contigu
Slide 7: Santa Cruz Project: Modern Underground Mining Project with Small Surface Footprint
Santa Cruz Project Modern Underground Mining Project with Small Surface Footprint Current project design requires ~1/3 of land package • Mine access, processing and tailings storage facilities Incorporates modern mining technologies to reduce operating costs and carbon dioxide emissions Includes pro
Slide 8: Santa Cruz Initial Assessment: Focused on High-Grade Oxide and Chalcocite Zones
Santa Cruz Initial Assessment: Focused on High-Grade Oxide and Chalcocite Zones 8
Slide 9: Santa Cruz Initial Assessment (IA) – September 2023
Santa Cruz Initial Assessment (“IA”) – September 2023 IA focuses on 5.9 Mt / year underground copper mine with small surface footprint • IA only incorporates high-grade exotic, oxide and enriched domains contained in Santa Cruz and East Ridge Deposits Estimated copper production of 1.6 Mt over 20-ye
Slide 10: Phased Development Approach Minimizes Initial Capital Requirements
Phased Development Approach Minimizes Initial Capital Requirements Initial Assessment focuses on high-grade, oxide and soluble copper domains Study includes twin 4.3 km declines to access copper mineralization • ~2 km extension in Year 8 to access lower portion of mineralization LOM 105.2 Mt mineral
Slide 11: Santa Cruz Verde Domain – High-Grade Oxide Copper
Santa Cruz Verde Domain – High-Grade Oxide Copper The Verde Domain has higher copper grades and lower water flow rates compared to previous modeling within the Initial Assessment • SCC-005 57.0 meters @ 3.52% Total Copper (2.77% Total Soluble Copper) • SCC-125 56.6 meters @ 3.22% Total Copper (3.16%
Slide 12: Initial Assessment Processing Flowsheet
Initial Assessment Processing Flowsheet Production of Both Copper Cathode and Copper Concentrate 12
Slide 13: Santa Cruz IA: Potential to be a Significant Copper Producer in the US
Santa Cruz IA: Potential to be a Significant Copper Producer in the US with Low Estimated Operating Costs Santa Cruz Projected Copper Production and Costs elative to Other SA Mines with 0 Paid Production reater than 55 Mlbs 13 Source: Wood Mackenzie, 2023 (single year 2022 data shown, the Santa Cruz
Slide 14: Santa Cruz Initial Assessment: Strong Projected Economics at $3.80/lb Copper
Santa Cruz Initial Assessment Strong Projected Economics at $3.80/lb Copper IA Estimates Initial capex $1.15B, LOM sustaining capex $0.98B $12.9B LOM revenue $5.2B LOM Pre-tax Free Cash Flow $1.6B Pre-tax NPV8%, IRR 25.1% $1.3B After-tax NPV8%, IRR 23.0% 14
Slide 15: Santa Cruz Initial Assessment: Illustrative NPV Sensitivity
Santa Cruz Initial Assessment: Illustrative NPV Sensitivity $0.20lb/ Cu change = ~$208M After-Tax NPV8% 15
Slide 16: Base Case 70% Renewable Power to Result in Low Estimated CO2e per Tonne Copper
Base Case 70% Renewable Power to Result in Low Estimated CO2e per Tonne Copper – “Clean Copper” 2022 Total Intensity (kg CO2e per tonne Paid CuEq) 2022 Scope 1 and Scope 2 emissions Santa Cruz IA Base Case 490 kg CO2e per tonne Cu Centile (%) 16 Source: Wood Mackenzie; 2023 (single year 2022 data sh
Slide 17: Exploration Drilling at Texaco and Texaco Ridge Provides Encouraging Results
Exploration Drilling at Texaco and Texaco Ridge Provides Encouraging Results and Future Growth Potential The recent step-out exploration drilling has identified broad primary sulfide mineralization that was previously identified by our TyphoonTM 3D induced polarization survey in September 2022 Hole
Slide 18: Preliminary Feasibility Study Expected to be Completed by the End of Q2 2025
Preliminary Feasibility Study Expected to be Completed by the End of Q2 2025 Current development drilling is focused on increasing the quality and confidence of the Indicated Mineral Resource to convert a greater portion of resources to Probable Mineral Reserves Ongoing trade-off studies are focused
Slide 19: US-Focused Portfolio Provides Exposure to Major Discovery Potential
US-Focused Portfolio Provides Exposure to Major Discovery Potential HOG HEAVEN, MT Cu-Au-Ag TINTIC, UT Cu-Au-Ag Total meters drilled from 2023 to Q1 2024 Project Meters SANTA CRUZ, AZ Santa Cruz 89,412 Cu Tintic 13,111 Hog Heaven 13,110 Other projects 8,901 TOTAL 124,534 19
Slide 20: Tintic – Technology Enabled Exploration in a Historic Mining District
Tintic – Technology Enabled Exploration in a Historic Mining District Portland Located on private land in a historic mining district, MONTANA ND 60km south of Bingham Canyon, with similar OREGON geologic characteristics Boise IDAHO Drilling ongoing: 11 holes totaling over 11k meters WYOMING Program
Slide 21: Typhoon Survey Guides Ongoing Exploration for Large Porphyry Systems
TyphoonTM Survey Guides Ongoing Exploration for Large Porphyry Systems TTD-016: 1391 to 1394m strong sulfide mineralization in vein stockworks 21
Slide 22: Exploration Drilling Finds Porphyry System at Sunbeam
Exploration Drilling Finds Porphyry System at Sunbeam Historical mining stopped at the water table, but mineralization is believed to continue to depth 22
Slide 23: Hog Heaven - Potential High-Grade Extensions and Porphyry Source
Hog Heaven - Potential High-Grade Extensions and Porphyry Source The Hog Heaven district consists of several high-sulfidation epithermal mineral deposits and prospects as well as several now-closed mines, including the Flathead Mine Historic Flathead Mine produced high- grade silver with associated
Slide 24: Hog Heaven – Drilling Continues to Expand Mineralized Areas
Hog Heaven – Drilling Continues to Expand Mineralized Areas Drilling at Hog Heaven continues to step out in search of the porphyry source Reported best copper-gold-silver intersection to date. Significant thicknesses have been intersected: • HHD-014, 82 meters at 0.63% copper, 0.32 g/t gold and 37.8
Slide 25: Ivanhoe Electric & Ma'aden – 50/50 JV to Explore in Saudi Arabia
Ivanhoe Electric & Ma’aden – 50/50 JV to Explore in Saudi Arabia Exclusive access to explore a vast ~48,500 km2 area of the underexplored Arabian Shield in Saudi Arabia $147.5 million investment by Ma’aden into Ivanhoe Electric to fund the JV and Ivanhoe Electric’s S projects • $66 million to fund t
Slide 26: Initial Typhoon Survey Identifies Three Prospective Chargeability Anomalies
Initial Typhoon Survey Identifies Three Prospective Chargeability Anomalies for Subsequent Drill Testing Three chargeability anomalies have been Identified by TyphoonTM on the Umm Ash Shalahib Exploration License to the south of Ma’aden’s Al Amar Gold-Copper-Zinc Mine The Umm Ash Shalahib Typhoon su
Slide 27: Ivanhoe Electric – Significant Institutional and Insider Ownership
Ivanhoe Electric – Significant Institutional and Insider Ownership Victory BHP Capital Sailingstone 4.3% 3.2% Invesco Public Market Overview 4.8% 3.1% T. Rowe Price 6.4% Current Market Cap: US$1.35 billion* Fidelity Mgmt. & Shares Outstanding: 120,307,414* Research 8.8% Other Cash as at March 31, 20
Slide 28: Ivanhoe Electric – US Electric Metals Exploration Company with Significant Technology Platform
Ivanhoe Electric – US Electric Metals Exploration Company with Significant Technology Platform Advancing the high-grade underground Santa Cruz Copper Project in Arizona Proprietary exploration and energy storage technologies Experienced exploration team focused on portfolio of US electric metals pro
Slide 29: Safe Harbor
Safe Harbor Forward-Looking Statements defective; our business is subject to changes in the prices of copper, gold, silver, nickel, cobalt, vanadium and platinum group metals; we have claims and legal proceedings against one of our subsidiaries; our m h p “f w - k g m ” “f w -looking business is sub
Slide 30: Scientific and Technical Information
Scientific and Technical Information Th I A m “IA” “S-K I A m &T h R p S mm y S z j A z ” is dated September 6, 2023, and was prepared in accordance with Subpart 1300 and Item 601 of Regulation S-K. The IA was prepared by the following firms: SRK Consulting (U.S.), Inc. (SRK), Nordmin Engineering, L
Slide 31: For more information visit www.IvanhoeElectric.com
For more information visit www.IvanhoeElectric.com