Ivanhoe Mines (IVN) Investor presentation summary

Corporate overview and financials

• Listed on TSX and OTCQX with a market cap of US$12.24 billion and a share price of C$12.08 as of June 17, 2026.

• Net debt position stands at US$471 million, with consolidated debt of $1.225 billion and cash of $754 million as of March 31, 2026.

• Major shareholders include CITIC Metal (21.2%), Zijin Mining (12.2%), and Robert Friedland (11.5%).

• Strong treasury and liquidity maintained, with pro-rata net debt to adjusted EBITDA at 2.02x in Q1 2026.

• $750 million in senior unsecured notes due 2030, with credit ratings of B (Positive/Stable) from Fitch and S&P.

Kamoa-Kakula copper complex

• Remains a world-class copper deposit with 35 Mt contained copper in indicated resources and 6.1 Mt in inferred resources as of March 31, 2026.

• 2026–2027 production guidance revised to 290–330 kt copper, with cash costs of $2.60–3.00/lb in 2026 and $2.10–2.50/lb in 2027.

• Smelter ramped up to 60% capacity, producing 71,417 tonnes of anode in Q1 2026 and delivering $0.70/lb in cost savings.

• Solar facility commissioning underway, targeting 60 MW in Q3 2026 and plans to double to 120 MW by end of 2027.

• Major milestones include new mining fronts at Kahala and Kansoko Sud, and steady-state production of 500 ktpa copper from 2028.

Western Forelands and exploration

• Western Forelands licenses are 60–100% owned and cover an area five times larger than Kamoa-Kakula.

• 2026 drill program is the largest ever at 96,000 metres, focusing on expanding Makoko District, now within 8 km of Kakula.

• Makoko District ranks as the world’s fifth largest copper discovery since 2015, with 27.7 Mt indicated at 2.79% Cu and 493.7 Mt inferred at 1.70% Cu.

• Additional exploration underway in Angola, Zambia, and Kazakhstan, with significant drill programs planned.