Mr. Robert Friedland reports

IVANHOE MINES ANNOUNCES LEADERSHIP APPOINTMENTS

Ivanhoe Mines Ltd. executive co-chair Robert Friedland and president and chief executive officer Marna Cloete have made key management and board appointments of Ivanhoe Mines.

After more than 10 years in various key operational leadership positions at Ivanhoe Mines, Mark Farren, chief operating officer, will transition from his executive role to become strategic adviser to the board. In his capacity as strategic adviser, Mr. Farren will continue to support the delivery of Ivanhoe's next phase of organic growth, including the Platreef phase 2 expansion and the development of the Western Forelands.

Tom van den Berg, senior executive, operations, at Kamoa-Kakula, will be appointed as Ivanhoe Mines' chief operating officer, effective Jan. 1, 2026. Mr. van den Berg will remain at Kamoa-Kakula for an interim period to oversee the continuing operational recovery and turnaround strategy.

Mr. van den Berg will also be responsible for building out technical expertise and operational excellence across the Ivanhoe Mines organization, with significant further personnel additions planned in the near term.

Mining industry leader Nick Popovic joins Ivanhoe Mines as a strategic adviser to the board. Mr. Popovic brings a wealth of knowledge from over three decades with Glencore International AG, including significant experience in both the Democratic Republic of the Congo and Kazakhstan, and he will advise the company in terms of commercial and operational matters, as well as growth strategy.

In addition, Manfu Ma, will step down from Ivanhoe Mines' board of directors. Ivanhoe Mines extends its deepest appreciation to Mr. Ma for his distinguished service since his appointment in August, 2019. In his place, Ivanhoe Mines welcomes Xianwen Wu to the board of directors, effective Nov. 26, 2025. Mr. Wu is currently the general manager of CITIC Metal Group and has over 30 years of experience in international commodity trading and mining investment.

Ivanhoe Mines plans to issue Kamoa-Kakula's 2026 and 2027 copper production week commencing Dec. 1, 2025.

Ivanhoe Mines executive co-chair Robert Friedland commented:

"The next chapters of Ivanhoe's growth are going to be nothing short of extraordinary, and we are positioned well following the appointments of Tom van den Berg, Mark Farren and Nick Popovic. I couldn't be more energized and excited about what is yet to come.

"I also extend my sincere thanks to Manfu Ma for his wisdom, support, and unwavering dedication in shaping the development of the Kamoa-Kakula copper complex, and in the process building Ivanhoe Mines into a world-class company with now three operating mines. Since joining the board in 2019, Mr. Ma has been instrumental in Kamoa-Kakula's three phases, each of which were delivered ahead of schedule. We welcome Xianwen Wu to our board, and we look forward to continuing to work with CITIC Metal on our shared vision for a bright future."

Mr. van den Berg will join Ivanhoe Mines as chief operating officer on Jan. 1, 2026, from Kamoa Copper, where he was appointed senior executive, operations, in February, 2025. For an interim period, he will remain at Kamoa-Kakula as Ivanhoe Mines' senior management designate to oversee the continuing recovery and turnaround plan at Kamoa-Kakula.

Mr. van den Berg has 37 years of mining and mine development experience across Southern Africa, spanning numerous operational leadership and management roles at Sibanye-Stillwater, Harmony Gold and Anglo American Platinum (now Valterra Platinum).

Mr. van den Berg has extensive underground and open-pit mining expertise and has experience developing strategic long-term operating partnerships and leading award-winning community and stakeholder engagement programs.

Mr. van den Berg holds a master's degree in business leadership and a bachelor's degree in mining engineering. He is also a fellow at the Southern African Institute of Mining and Metallurgy.

Mr. Farren will transition to a new role as strategic adviser to the board. Mr. Farren will assist Mr. van den Berg with the buildout of a technical centre of excellence, and retaining and developing skills within the group that will be vital to continuing the strong track record Ivanhoe Mines has achieved to date.

Mr. Farren has overseen a remarkable phase of project execution and growth at Ivanhoe Mines, including the delivery of nine major capital projects in the past five years while as chief operating officer at Ivanhoe Mines and chief executive officer at Kamoa Copper. This includes the construction of Kamoa-Kakula's phase 1, 2 and 3 operations, and subsequent debottlenecking, Kamoa-Kakula's on-site direct-to-blister copper smelter, the rehabilitation and construction of Kipushi mine, the recently opened phase 1 operation at Platreef, as well as the refurbishment of the hydroelectric facilities at Mwadingusha and Turbine No. 5 at Inga II.

Given his wealth of experience, Mr. Farren will continue to support the board of directors and management team on the delivery of Ivanhoe's next phase of organic growth, including the further expansions of the Platreef mine and the commencement of development of the Makoko district in the Western Forelands.

Mr. Popovic has been appointed as a strategic adviser to the board, to assist with the growth strategy of the company as well as advise on commercial and operational matters.

Mr. Popovic is a highly accomplished professional in the metals and mining industry, with over 30 years of trading and operational experience. Mr. Popovic began his career at Marc Rich + Co., which later became Glencore International AG, in 1992, trading base metals.

Over the course of his tenure at Glencore, Mr. Popovic ascended to a senior executive role as co-head of copper, zinc, lead and cobalt trading, before retiring in 2023.

While at Glencore, Mr. Popovic was also integral in the company's acquisition and expansion of Kazzinc, following its privatization in 1997. He initially served as chief executive officer of Kazzinc from 1998, overseeing multiple phases of investment and growth during his tenure. In 2014, Mr. Popovic was chairman of Kazzinc until 2024.

Mr. Popovic holds a master's degree in economics from Cambridge University.

Mr. Ma is stepping down as a director of Ivanhoe Mines, having served as a member of Ivanhoe Mines' board of directors since Aug. 16, 2019. Since joining the board in 2019, Mr. Ma has provided invaluable guidance, strategic insight and steadfast support during a transformative period in the company's growth.

CITIC Metal nominates Mr. Wu to replace Mr. Ma on the board of directors, effective Nov. 26, 2025.

Mr. Wu is currently the general manager of CITIC Metal Group, the parent company of CITIC Metal Africa Investment Ltd., as well as the chairman of CITIC Metal Co. Ltd. Mr. Wu joined CITIC Group in 1994 and has over 30 years of experience in international commodity trading and mining investment.

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 ramp-up of the ultrahigh-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the phased development of the Tier 1 Platreef palladium-nickel-platinum-rhodium-copper-gold mine in South Africa.

Ivanhoe Mines is also exploring across its highly prospective, 60- to 100-per-cent-owned exploration licences in the Western Forelands, covering an area over five times larger than the adjacent Kamoa-Kakula copper complex. Ivanhoe is exploring for new sedimentary copper discoveries, as well as expanding and further defining its high-grade Makoko, Kiala and Kitoko copper discoveries as the company's next major development projects.