Robert Friedland Provides Update on Previously Disclosed Ivanhoe Mines' Shareholdings

Rhea-AI Summary

Robert Friedland (IVPAF) updated his disclosed Ivanhoe Mines shareholdings following personal financing transactions with a U.S. commercial bank. A wholly owned subsidiary pledged 94,100,000 common shares, equal to 6.61% of outstanding common shares, a 1.97% increase in pledged shares since December 31, 2024.

The subsidiary remains registered owner of 163,391,850 common shares (~11.48% outstanding as of Dec 26, 2025) and is deemed to own 168,409,379 shares (~11.79% on a partially diluted basis). Friedland may settle the financing in cash and expects to do so; pledged shares are not subject to disposal or voting by the bank except as disclosed.

Positive

• Pledged shares limited to 6.61% of outstanding shares
• Registered ownership of 163,391,850 shares (~11.48%)
• Partial-diluted ownership 168,409,379 shares (~11.79%)

Negative

• 94.1M shares pledged as security for financing (6.61% of outstanding)
• Pledged-share count increased 1.97% since Dec 31, 2024
• Up to 8.8% of shares may be subject to future pledging or transfers

Singapore, Singapore--(Newsfile Corp. - December 31, 2025) - This news release is issued by Robert M. Friedland to provide an update regarding his holdings of class A common shares ("common shares") in Ivanhoe Mines Ltd. ("Ivanhoe Mines") following transactions that were previously disclosed on December 31, 2024.

In connection with personal financing transactions (collectively, the "Transactions") entered into by Mr. Friedland with a third-party U.S. commercial bank (the "Financial Institution") and previously disclosed, the Financial Institution has made funds available to Mr. Friedland. In support of the Transactions, a wholly-owned subsidiary of Mr. Friedland has pledged as security an aggregate of 94,100,000 common shares in favour of the Financial Institution which constitutes 6.61% of the currently outstanding Ivanhoe Mines' common shares. This increase constitutes a 1.97% increase in the number of pledged common shares since Mr. Friedland's last disclosure on December 31, 2024.

The Transactions have been completed in multiple tranches. At maturity, Mr. Friedland may, but is not required to, deliver common shares to the Financial Institution to settle the Transactions. Mr. Friedland also has the right to elect to settle the transaction in cash, and expects and intends to do so in all circumstances. Except for these circumstances, the commercial bank has obtained no rights to dispose of, sell, transfer or vote, any of the pledged common shares or other shares of Ivanhoe Mines. Mr. Friedland or a wholly-owned subsidiary continues to retain all rights of ownership over the pledged common shares.

Mr. Friedland may, at any time, increase or decrease the number of pledged common shares as part of the Transactions with the Financial Institution. As previously disclosed, as part of estate planning over the next three years, Mr. Friedland also intends to transfer common shares to one or more charitable trusts established or to be established. The common shares that may be subject to further pledging as a part of the Transaction and/or common shares that may be transferred as part of estate planning purposes shall not exceed 8.8% of the issuer's outstanding common shares at any time. Mr. Friedland will provide the additional disclosures required for these future transactions at the time required by applicable law.

A wholly-owned subsidiary of Mr. Friedland continues to be the registered owner of an aggregate of 163,391,850 common shares (which includes the Pledged Shares), representing approximately 11.48% of the common shares issued and outstanding on December 26, 2025.

Mr. Friedland also may be deemed to own 4,509,651 common shares issuable on exercise of previously granted options, 182,962 common shares issuable upon the vesting of restricted share units and 324,916 common shares issuable upon the vesting of performance share units, and as a result may be deemed to own, in aggregate, 168,409,379 common shares, representing approximately 11.79% of the common shares issued and outstanding on a partially-diluted basis.

Mr. Friedland has a business address of 150 Beach Road, #25-03, The Gateway West, Singapore 189720.

For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder, please go to Ivanhoe Mines' profile on the SEDAR+ website (www.sedarplus.ca) or contact Sam Kenny at (604) 377-8078. Ivanhoe Mines has an office at 606-999 Canada Place, Vancouver, British Columbia, Canada, V6C 3E1.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279254

FAQ

How many Ivanhoe Mines shares did Robert Friedland pledge on December 31, 2025 (IVPAF)?

A wholly owned subsidiary pledged 94,100,000 common shares, representing 6.61% of outstanding shares.

What percentage of Ivanhoe Mines does Robert Friedland own as of Dec 26, 2025 (IVPAF)?

Registered ownership is 163,391,850 shares, about 11.48% of outstanding common shares.

What is Robert Friedland's partially diluted ownership of Ivanhoe Mines (IVPAF)?

Including exercisable options and vesting units, he may be deemed to own 168,409,379 shares, ~11.79% on a partially diluted basis.

Will the bank be able to sell or vote the pledged Ivanhoe Mines shares (IVPAF)?

Except as described, the commercial bank obtained no rights to dispose of, sell, transfer, or vote the pledged shares.

Can Robert Friedland settle the financing by delivering Ivanhoe Mines shares or cash (IVPAF)?

At maturity he may deliver common shares but also has the right and expects to settle the Transactions in cash.