Ivanhoe Electric Receives Indication for up to $825 Million in Financing from Export-Import Bank of the United States for Santa Cruz Copper Project

United States Government Support Reinforces Strategic Importance of Santa Cruz Copper Project in Enhancing Domestic Copper Supply

Santa Cruz Copper Project Preliminary Feasibility Study on Track for June Completion

Project Permitting, Financing, and Detailed Engineering Rapidly Advancing Towards Construction

Phoenix, Arizona--(Newsfile Corp. - April 15, 2025) - 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 receipt of a Letter of Interest from the Export-Import Bank of the United States ("EXIM Bank") outlining the potential to provide up to $825 million in debt financing with a 15 year repayment tenor for the development of Ivanhoe Electric's Santa Cruz Copper Project in Arizona through EXIM Bank's Make More in America initiative.

EXIM Bank is the official export credit agency of the United States. It is a government agency that offers financial support to companies through means such as direct loans and loan guarantees, working capital guarantees, and export credit insurance. EXIM Bank's Make More in America initiative and its China and Transformational Exports Program are designed to boost United States' competitiveness, strengthen supply chains, and reduce strategic vulnerabilities.

The Santa Cruz Copper Project aligns with the EXIM Bank's Make More in America initiative, which is intended to increase the United States' supply of critical minerals to foster economic growth and strengthen national security through domestic resource production.

Mr. Friedland commented: "Receipt of the Export-Import Bank of the United States' Letter of Interest underscores the importance of our Santa Cruz Copper Project to grow domestic copper production. The United States urgently needs more domestically produced copper to support the rapid expansion and rebuilding of its electric transmission and transportation infrastructure, national defense capabilities, and technologies of the future. Santa Cruz is positioned perfectly to be a source of pure copper cathode to help the United States achieve its strategic mission of greater self-reliance on domestic production of critical metals."