Ivanhoe Electric Announces Full Exercise and Closing of Underwriters’ Option for $22.5 Million in a Public Offering of Common Stock, Increasing Gross Proceeds to $172.5 Million

Ivanhoe Electric Inc. (NYSE American: IE) (TSX: IE) (“Ivanhoe Electric”), Executive Chairman, Robert Friedland and President and Chief Executive Officer, Taylor Melvin are pleased to announce the full exercise and closing on October 27, 2025 of the underwriters’ option to purchase an additional 1,500,000 common shares of Ivanhoe Electric at a public offering price of $15.00, consistent with the previously announced and completed underwritten public offering of 10,000,000 common shares of Ivanhoe Electric at a public offering price of $15.00 per share. The gross proceeds from the offering, including proceeds from the exercise of the underwriters’ option, were $172.5 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Ivanhoe Electric.

We intend to use the net proceeds from this offering to complete remaining payments due from the purchase of land at our Santa Cruz Copper Project in Arizona, to fund early development activities at the Santa Cruz Copper Project, to fund exploration activities at our current projects and joint ventures, and for other working capital and general corporate purposes.

BMO Capital Markets acted as lead book running manager of the offering. JP Morgan and National Bank of Canada Capital Markets acted as book-running managers of the offering.

A registration statement on Form S-3 (No. 333-273195) relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and was automatically declared effective on July 10, 2023. The shares offered in this offering were being offered by means of a prospectus supplement and an accompanying prospectus relating to the offering, which form a part of the registration statement. The final prospectus supplement relating to the offering was filed with the SEC on October 22, 2025 and is available on the SEC’s website: http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, e-mail: bmoprospectus@bmo.com.

The final MJDS prospectus supplement relating to and describing the terms of the offering was filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada (except Québec) on October 22, 2025. Copies of the final MJDS prospectus supplement and the accompanying final base MJDS prospectus relating to the offering may be obtained from the underwriters and will be available under Ivanhoe Electric’s profile on SEDAR+ at www.sedarplus.ca.

In obtaining the Toronto Stock Exchange’s approval for the Offering, Ivanhoe Electric has relied on the exemption set forth in Section 602.1 of the TSX Company Manual available to Eligible Interlisted Issuers as Ivanhoe Electric’s common shares are listed on the NYSE American and represent less than 25% of the total trading volume in Canada occurred during the 12 months prior to the launch of the Offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Ivanhoe Electric

We are an American company combining advanced mineral exploration technologies (Typhoon™ and Computational Geosciences Inc.) with electrical metals exploration projects, primarily in the United States, led by the Santa Cruz Copper Project in Arizona. Our mineral exploration efforts focus on copper and other metals, including nickel, vanadium, cobalt, platinum group elements, gold and silver. We also operate a 50/50 joint venture with the Saudi Arabian mining company Ma’aden for mineral exploration approximately 48,500 km away.² of the underexplored Arabian Shield in the Kingdom of Saudi Arabia.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking information” and “forward-looking statements” within the meaning of the United States and Canadian securities laws. All statements other than statements of historical fact in this press release, including statements regarding the use of proceeds from the offering, are forward-looking statements. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements as a result of various factors, including management’s discretion regarding the use of proceeds from the offering; we will require significant additional capital investment in the future; our mining projects are all in the exploration or development phase and are subject to the significant risks and uncertainties associated with mineral exploration and development; we have diverted resources that may never be upgraded to a higher category of resources or reserves; we have limited operating history on which to base an evaluation of our business and prospects; we depend on our material projects for our future activities; our calculations of mineral resources and reserves and economic projections regarding our properties are estimates only; actual capital costs, operating costs, production and economic returns may differ materially from what we expected; the title of some mineral properties may be uncertain or defective; our business is subject to changes in the prices of copper, gold, silver, nickel, cobalt, vanadium and platinum group metals; we have claims and legal proceedings against any of our subsidiaries; our business is subject to significant risks and hazards associated with exploration activities, mine development, construction and future mining activities; We may be unable to identify attractive acquisition candidates or joint ventures with strategic partners, or we may be unable to successfully integrate acquired mineral properties or successfully manage joint ventures; our success depends in part on our joint venture partners and their compliance with our agreements with them; our business is extensively regulated by both the United States and foreign governments and local governments; we may be adversely affected by tariff and trade actions; we and the VRB China Joint Venture may not receive the expected payments from Red Sun in connection with the VRB China Joint Venture transaction in full or on a timely basis; The sale of its interest in the Alacrán project by our subsidiary Cordoba may not be completed; the requirements for obtaining, maintaining and renewing environmental, construction and mining permits are often a costly and time-consuming process; our non-U.S. operations are subject to additional political, economic and other uncertainties not generally associated with domestic operations; and our operations may be affected by public health emergencies, pandemics, epidemics or similar events. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements set forth in or incorporated by reference into Ivanhoe Electric’s preliminary prospectus supplement relating to this offering and the accompanying base prospectus forming part of the registration statement on Form S-3, as amended, filed with the SEC and the preliminary MJDS prospectus supplement relating to this offering and the accompanying final base MJDS prospectus filed. with Canadian securities commissions. Ivanhoe Electric expressly disclaims any obligation or undertaking to update the forward-looking statements contained in this press release to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based, except as required by applicable law. There can be no assurance that such future results will be achieved. Forward-looking statements speak only as of the date of this press release. We caution you not to place undue reliance on these forward-looking statements.

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