Ivanhoe Mines closes private placement with QIA

Mr. Matthew Keevil reports IVANHOE MINES CLOSES US$500 MILLION STRATEGIC PRIVATE PLACEMENT WITH QATAR INVESTMENT AUTHORITY Ivanhoe Mines Ltd. has closed the private placement offering with Qatar Investment Authority (QIA), as previously announced on Sept. 17, 2025. In accordance with the offering, Ivanhoe Mines has issued 57,516,666 common shares to QIA at a price of $12 (Canadian) per share. Pursuant to the investor rights agreement between the company and Zijin Mining Group Co. Ltd., Zijin has exercised its right to acquire 8,004,800 common shares of Ivanhoe Mines at the same issue price as QIA to maintain its pro rata equity interest of approximately 12.2 per cent in the company, resulting in additional proceeds to Ivanhoe Mines of approximately $70-million (U.S.). CITIC Metal Africa Investments Ltd. has waived its right to acquire additional shares in Ivanhoe Mines, pursuant to its investor rights agreement. About Ivanhoe Mines Ltd. Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa; the Kamoa-Kakula copper complex in the Democratic Republic of the Congo (DRC), the ultrahigh-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the Tier 1 Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa, which is set to start production in Q4 (fourth quarter) 2025. Ivanhoe Mines is exploring for copper in its highly prospective, 54-per-cent-to-100-per-cent-owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula copper complex, including the high-grade discoveries in the Makoko district. Ivanhoe is also exploring for new sedimentary copper discoveries in new horizons, including Angola, Kazakhstan and Zambia. About Qatar Investment Authority QIA is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state reserve funds. QIA is among the largest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions, as well as in partnership with leading institutions around the world, to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the state of Qatar.