"Ivanhoe Electric Confirms No Current Plans for Share Sale by Saudi Arabia Mining Company Despite Speculations

Ivanhoe Electric Inc. ("Ivanhoe Electric") (NYSE:IE)(TSX:IE) clarifies misleading certain media headlines speculating that Saudi Arabia Mining Company ("Ma'aden") will sell Ivanhoe Electric shares under the recently filed Registration Statement.

The Registration Statement was filed pursuant to an obligation in the Investor Rights Agreements ("IRA") entered into between Ivanhoe Electric and Ma'aden at the time of Ma'aden's initial investment in Ivanhoe Electric. The IRA was previously disclosed and filed on July 6, 2023. Ma'aden has confirmed, consistent with what was disclosed in the Registration Statement, that it has no present intention to sell any shares of Ivanhoe Electric common stock.