Mr. Robert Friedland reports

IVANHOE MINES AND QATAR INVESTMENT AUTHORITY (QIA) ANNOUNCE MEMORANDUM OF UNDERSTANDING (MOU) TO FURTHER EXPLORATION, DEVELOPMENT AND MINING OF CRITICAL MINERALS

Ivanhoe Mines Ltd. has signed a memorandum of understanding (MoU) between Ivanhoe Mines and Qatar Investment Authority (QIA). This follows QIA's $500-million (U.S.) strategic investment into Ivanhoe Mines, as announced on Sept. 29, 2025.

The signing of the MoU coincided with this week's visit by His Highness The Amir of Qatar, Sheikh Tamim bin Hamad Al-Thani to the Democratic Republic of the Congo (DRC), where he met with His Excellency Felix Tshisekedi, president of the DRC, to discuss friendly bilateral relations between the two countries.

The MoU between QIA and Ivanhoe Mines sets out a framework for collaboration to support Ivanhoe's efforts to find, develop and sustainably supply the critical minerals essential to the global energy transition and the development of advanced technologies.

Ivanhoe Mines executive co-chair Robert Friedland commented: "The signing of the MoU, together with the strategic investment by the Qatar Investment Authority, is a strong vote of confidence in Ivanhoe Mines' and our mission to supply the strategic metals that power global electrification and the rise of AI and large-scale datacentres. We are excited to build this long-term, world-class alliance as we unlock new frontiers in our hunt for the next generation of great discoveries, which we will sustainably mine together."

QIA CEO Mohammed Saif Al-Sowaidi commented: "This MoU is a testament of QIA's commitment to building strategic partnerships with leading suppliers of critical minerals, supporting global efforts to develop new energy infrastructure and power advanced technologies. We are delighted to be working with Ivanhoe Mines and look forward to further growing our partnership, aimed at generating long-term, sustainable prosperity."

MoU sets framework for collaboration on further exploration, development and mining of critical minerals

As part of the MoU, QIA notes its support of Ivanhoe Mines management team in its pursuit of existing and new growth projects, such as exploration work under way to develop the world-class Western Forelands exploration project in DRC, including the Makoko district.

Ivanhoe Mines and QIA also intend to collaborate in good faith to identify and explore future partnerships and opportunities to work together in geographical areas of interest on mining projects at all phases of development. This may include collaboration in terms of investment or financing of such projects.

Furthermore, Ivanhoe and QIA may collaborate in terms of (i) using QIA's extensive network to provide access to financial institutions for preferential financing of critical minerals projects in Africa and elsewhere; (ii) collaboration on potential future strategic M&A; (iii) collaboration on potential infrastructure related to critical minerals projects, including logistics, power and water; and (iv) working together on development of downstream smelting or refining capacity for critical minerals.

About Ivanhoe Mines Ltd.

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula copper complex in the 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.

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.

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