An anonymous director reports

IVANHOE MINES COMMENTS ON SHARE PRICE MOVEMENT

Ivanhoe Mines Ltd. is not aware of any company-specific reason that might be contributing to the recent decline in the company's share price, other than general market volatility.

Ivanhoe will release production results for the month of May from the Kamoa-Kakula copper complex on Monday, June 5, 2023.

About Ivanhoe Mines Ltd.

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa: the expansion of the Kamoa-Kakula copper complex in the Democratic Republic of the Congo; the construction of the Tier 1 Platreef palladium-nickel-platinum-rhodium-copper-gold project in South Africa; and the restart of the historical ultrahigh-grade Kipushi zinc-copper-germanium-silver mine, also in the Democratic Republic of the Congo.

Ivanhoe Mines is also exploring for new copper discoveries across its approximately 2,400 square kilometres of 90-per-cent-to-100-per-cent-owned exploration licences in the Western Foreland, which are located adjacent to the Kamoa-Kakula mining complex in the Democratic Republic of the Congo.