Mr. Robert Friedland reports

IVANHOE ELECTRIC TO RECEIVE $58.4 MILLION CASH DISTRIBUTION FROM CORDOBA MINERALS CORP

Ivanhoe Electric Inc.'s 59.6-per-cent-owned subsidiary, Cordoba Minerals Corp., has provided details on the timing and amount of its cash distribution to Cordoba shareholders.

On March 6, 2026, Cordoba announced that it had closed the sale of its remaining 50-per-cent interest in the Alacran project in Colombia for total cash proceeds of $128-million. Under the terms of the sale, the net cash proceeds remaining after settling all outstanding liabilities and obligations and retaining $10-million for continuing corporate purposes would be distributed to Cordoba shareholders.

Cordoba subsequently announced that the final cash amount per share to be distributed would be $1.01 per Cordoba common share to registered Cordoba shareholders as of close of business on March 20, 2026. The cash payment is expected to be made on or about March 25, 2026.

Ivanhoe Electric currently owns 57,855,427 common shares of Cordoba, which entitles it to an approximately $58.4-million cash payment as part of Cordoba's distribution.

Cash distribution from Cordoba will enhance Ivanhoe Electric's already-strong liquidity position

As at Dec. 31, 2025, Ivanhoe Electric had cash and cash equivalents totalling $173.3-million. As of Feb. 17, 2026, Ivanhoe Electric received $82.6-million in proceeds from the exercise of all the outstanding warrants associated with the company's Feb. 14, 2025, equity financing. The forthcoming $58.4-million distribution from Cordoba will strengthen Ivanhoe Electric's cash position. The company's liquidity is enhanced further by an undrawn $200-million senior secured multidraw bridge facility (refer to Ivanhoe Electric's Dec. 15, 2025, news release).

About Ivanhoe Electric Inc.

Ivanhoe Electric is a U.S.-domiciled minerals exploration company with a focus on developing mines from mineral deposits principally located in the United States. Ivanhoe Electric seeks to support American supply chain independence by finding and delivering copper and other critical metals vital to advanced manufacturing, infrastructure development, technology and national security. Ivanhoe Electric uses its powerful Typhoon geophysical surveying system, together with advanced data analytics provided by the company's 94.3-per-cent-owned subsidiary, Computational Geosciences Inc. (CGI), to accelerate and derisk the mineral exploration process as Ivanhoe Electric seeks to discover new deposits of critical metals that may otherwise be undetectable by traditional exploration technologies. Ivanhoe Electric believes the United States is significantly underexplored and has the potential to yield major new discoveries of critical metals. Ivanhoe Electric's mineral exploration efforts focus on copper as well as other metals, including nickel, cobalt, platinum group elements, gold and silver. Through the advancement of its portfolio of critical metals exploration projects, headlined by the Santa Cruz copper project in Arizona, Ivanhoe Electric intends to contribute to domestic supply by developing resources that support industrial and strategic sectors. The company also operates a 50/50 joint venture with Saudi Arabian Mining Company (Maaden) to explore for minerals on approximately 50,000 square kilometres of the underexplored Arabian Shield in Saudi Arabia. Finally, in 2024, Ivanhoe Electric established an exploration alliance with BHP Mineral Resources Inc., a subsidiary of BHP Group Ltd., to search for critical minerals in the United States. In 2026, Ivanhoe Electric entered into a Typhoon-driven mineral exploration and collaboration agreement with Sociedad Quimica y Minera de Chile (SQM) in Chile to explore 2,002 square kilometres of mining concessions for new copper deposits beneath electrically resistive caliche.

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