Mr. Robert Friedland reports

IVANHOE MINES CONGRATULATES HIS EXCELLENCY FELIX TSHISEKEDI ON HIS RE-ELECTION AND INAUGURATION AS THE PRESIDENT OF THE DEMOCRATIC REPUBLIC OF THE CONGO

Ivanhoe Mines Ltd.'s Robert Friedland, founder and executive co-chairman, and Marna Cloete, president, are congratulating his excellency Felix Tshisekedi on his re-election and inauguration as the President of the Democratic Republic of the Congo.

Mr. Friedland, Ivanhoe's founder and executive co-chairman, commented:

"On behalf of Ivanhoe Mines, we extend our congratulations to his excellency Mr. Tshisekedi on winning a second term. This is the nation's fourth successful election since the turn of the century, which is a positive sign of the ongoing development of the Democratic Republic of the Congo's democratic process. The election reinforces our belief that the country is on the cusp of emerging as a major economic power in Africa, with its bountiful endowment of strategic minerals, youthful work force and exceptional, clean, green hydropower potential.

"Ivanhoe Mines continues its commitment to work in partnership with the people of the Democratic Republic of the Congo, developing its mining industry to unlock the rich economic and social potential of this incredible country. This year we will complete the expansion of the Kamoa-Kakula copper complex, making it one of the world's top-three copper complexes, as well as return the historic, ultrahigh-grade Kipushi zinc-silver-copper-germanium mine to production. In addition, we are incredibly excited about the geological potential across the Western Forelands, as we increase our exploration efforts this year to find new tier 1 copper discoveries. We look forward to continuing to develop our warm and long-standing relationship with the DRC government and its people under President Tshisekedi's second term."

Ivanhoe Mines is scheduled to attend the Mining Indaba in Cape Town, South Africa, in February, 2024. The annual conference, Africa's largest mining event, is attended by political leaders, government ministers and representatives of most African nations, international investors, financial institutions, mining industry executives, and major news media.

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 DRC; the construction of the Tier 1 Platreef palladium-nickel-platinum-rhodium-copper-gold project in South Africa; and the restart of the historic ultrahigh-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC.

Ivanhoe Mines also is exploring for new copper discoveries across its approximately 2,400 square kilometres of 80-per-cent-to-100-per-cent-owned exploration licences, as well as on the 247 square km of newly acquired joint venture licences, in the Western Foreland located adjacent to the Kamoa-Kakula copper complex in the DRC.