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Ivanhoe Electric's Executive Chairman Robert Friedland: @robert_ivanhoe

Ivanhoe Electric: @ivanhoeelectric

Ivanhoe Electric's investor relations website located at www.ivanhoeelectric.com should be considered Ivanhoe Electric's recognized distribution channel for purposes of the Securities and Exchange Commission's Regulation FD.

Forward-Looking Statements

Certain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable U.S. and Canadian securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Ivanhoe Electric, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect Ivanhoe Electric's current expectations regarding future events, performance and results and speak only as of the date of this news release.

Such statements in this news release include, without limitation, statements regarding the timing and ability to successfully negotiate and sign definitive agreements and close the transaction on the terms stated in the Term Sheet; the ability to obtain all necessary corporate, regulatory and third party approvals and satisfy other applicable conditions to the transactions contemplated by the transaction; the success of the businesses of the Joint Venture and VRB Energy USA Inc.; the capital contributions of Red Sun through 2025; the restructuring and transfer of intellectual property between VRB Energy and the Joint Venture; the Joint Venture's ability to accelerate the manufacture and sale of vanadium redox flow battery systems by combining technology with facilities and infrastructure leased or acquired from entities affiliated with the founders of Red Sun; the Joint Venture's ability to establish two manufacturing sites, one with a 300-megawatt production line and a second with a 200-megawatt production line, and the ability to increase production capacity by ten times VRB Energy's existing Chinese facility; the timing and ability of the Joint Venture to construct a dedicated electrolyte plant in Shanxi Province with a capacity of 5,000 m3; the establishment of a vanadium redox battery manufacturing business located in Arizona and capable of producing 50 megawatts per year of VRB-ESS® vanadium flow batteries; completion of a cooperation Agreement allowing VRB USA to maintain intellectual properties and associated rights, the cross-licensing of new inventions and improvements, preferred supplier arrangements, and establishes global patent protections; and other planned or potential developments in the businesses of Ivanhoe Electric.

Forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. Such statements are subject to significant risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including any inability to negotiate and sign mutually agreeable definitive agreements; any inability to satisfy all applicable closing conditions; changes in the prices of copper or other metals Ivanhoe Electric is exploring for; the results of exploration and drilling activities and/or the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations; the final assessment of exploration results and information that is preliminary; the significant risk and hazards associated with any future mining operations, extensive regulation by the U.S. government as well as local governments; changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with Ivanhoe Electric to perform as agreed; and the impact of political, economic and other uncertainties associated with operating in foreign countries, and the impact of the COVID-19 pandemic and the global economy. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risk factors described in Ivanhoe Electric's Annual Report on Form 10-K and other filings with the U.S. Securities and Exchange Commission at www.sec.gov.

No assurance can be given that such future results will be achieved. Forward-looking statements speak only as of the date of this news release. Ivanhoe Electric cautions you not to place undue reliance on these forward-looking statements. Subject to applicable securities laws, Ivanhoe Electric does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release, and Ivanhoe Electric expressly disclaims any requirement to do so.