Ivanhoe Mines set to start stage 2 dewatering at Kakula

Mr. Robert Friedland reports IVANHOE MINES ANNOUNCES STAGE TWO DEWATERING OF KAKULA MINE TO COMMENCE IMMINENTLY Ivanhoe Mines Ltd.'s executive co-chair, Robert Friedland, and president and chief executive officer Marna Cloete today provided an operational update on dewatering and rehabilitation activities at the Kamoa-Kakula copper complex. Following the seismic activity that occurred at the Kakula mine in May, 2025, Kamoa-Kakula's engineering team implemented a three-stage plan to dewater the Kakula mine. Stage 1 dewatering activities to stabilize and maintain current water levels were completed on June 2, 2025. Stage 2 dewatering activities are expected to commence imminently. Stage 2 dewatering consists of the installation of four new high-capacity, submersible pumps and new permanent surface infrastructure to dewater the eastern side of the Kakula mine from surface. Kamoa-Kakula's engineering team ordered the stage 2 high-capacity, submersible pumps, each rated with a pumping capacity of 650 litres per second, from Hefei Hengda Jianghai Pump Co. Ltd. of Anhui province, China. Four of the five pumps have been delivered and are undergoing installation. The remaining pump will be shipped at a later date and kept in reserve as a spare. Representatives from Hefei Hengda Jianghai Pump Co. Ltd. are currently on site overseeing the installation of the submersible pumps, alongside Kamoa-Kakula's project engineering team. The 4.2-megawatt (MW) submersible pumps are being installed in pairs down two adjacent, existing 400-metre shafts that access a deep section of the eastern side of the Kakula mine. The pumps, as well as the associated valves and piping, are currently being lowered into place from the surface. The submersible pumps will be fully submerged until the end of November, when the majority of the dewatering is expected to be complete and the water level reaches near the bottom of the stage 2 dewatering shafts. The submersible pumps will be powered by a separate, dedicated 20-megawatt generator, primarily to minimize any disruption risk from the electrical grid. The installation of the stage 2 submersible pumps commenced on Aug. 15. Since then, two out of the four pumps have been hoisted into place and are on schedule to be operational by month-end. The remaining two pumps are expected to be operational in mid-September. The rehabilitation of the currently accessible areas underground at Kakula is now complete, restoring access to all areas of the mine up to the current water levels. Once the new stage 2 high-capacity, submersible pumps, located on the eastern side of the Kakula mine, are operational, the stage 1 temporary underground pumping infrastructure will be remobilized to assist with the stage 2 dewatering activities. Dewatering the Western side of the Kakula mine is expected to be completed within eight weeks. No seismic activity was experienced in the Western side of the Kakula mine; therefore, regaining access to the high-grade areas on this side of the mine is expected to be relatively quick, as no additional rehabilitation measures will be required. Therefore, mining grades from the Kakula mine are expected to improve notably toward year-end. In addition, as water levels subside on the eastern side of the Kakula mine, rehabilitation will commence immediately as required. Selective mining within the existing workings on the eastern side of the mine is expected in Q1 2026. Stage 3 dewatering activities will start in late 2025, consisting of the rehabilitation and recommissioning of major existing pump stations on the eastern side of the Kakula mine that are currently underwater. Stage 3 will be the final dewatering stage, which will use the existing horizontal pumping infrastructure to dewater the remaining areas deep on the eastern side. 2026 and 2027 production guidance to be released in September Kamoa-Kakula's engineering team is expected to provide Kamoa-Kakula's 2026 and 2027 copper production guidance in mid-late September, 2025. A life of mine plan, to be included in an updated technical report, is also expected to be released in late Q1 2026. Refurbishment of Inga II hydroelectric facility nearing completion; mechanical installation complete and commissioning under way Mechanical and electrical equipment installation for the refurbished turbine No. 5 at the Inga II hydroelectric facility is now complete. Precommissioning activities have already commenced and are expected to be completed early in the fourth quarter. Disclosure of technical information Disclosures of a scientific or technical nature in this news release have been reviewed and approved by Steve Amos, who is considered, by virtue of his education, experience and professional association, a qualified person under the terms of National Instrument 43-101. Mr. Amos is not considered independent under NI 43-101 as he is Ivanhoe Mines' executive vice-president, projects. Mr. Amos has verified the technical data disclosed in this news release. Disclosures of a scientific or technical nature of this news release have been reviewed and approved by Joshua Chitambala, who is considered, by virtue of his education, experience and professional association, a qualified person under the terms of NI 43-101. Mr. Chitambala is not considered independent under NI 43-101 as he is the resource manager for Ivanhoe Mines. Mr. Chitambala has verified the scientific and technical information in Figure 2 in the original version disclosed in this news release. 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, 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 2025. Ivanhoe Mines is exploring for copper in its highly prospective, 54- 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. We seek Safe Harbor.