Ivanhoe Mines Ltd.

Good morning, ladies and gentlemen, and welcome to the Ivanco 961 Financial Results Conference call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time you need assistance, please press star-0 for the operator. This call is being recorded on Thursday, May 7, 2026. I would now like to turn the conference over to Tommy Horton. Please go ahead.

Thank you, Operator. Hello, everyone. My name is Tommy Horton, and I am the Vice President of Investor Relations and Corporate Development for Ivanhoe Mines, and it is my pleasure to welcome you on our first quarter 2026 conference call. On the line today from Ivanhoe Mines, we have Founder and Co-Chairman Robert Friedland, President and Chief Executive Officer Marna Klerter, Chief Operating Officer Tom Vandenberghe, Chief Financial Officer, David Van Heerden, Executive Vice President, Corporate Development and Best Relations, Alex Pickard, and Executive Vice President, Technical Services, Simon Bottoms. We will finish today's call with a question and answer session. You can submit your questions using the Q&A box on the webcast page as well as through the conference operator via the telephone line. If we've run low on time, our investor relations team will endeavor to collect all questions and follow up accordingly. Before we begin, I'd like to remind everyone that today's event will contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Details of the forward-looking statements are contained in our May 6th press release, which can be found on CDAR Plus and on our website. www.IvanhoeMines.com It is now my pleasure to hand over to Ivanhoe Mines founder and co-chairman Robert Friedland for his opening remarks. Robert, please go ahead.

Thank you very much and good morning to all of you on this call. I find myself in a beautiful morning in Southern California. We're about 30 years into our efforts in the Congo and it's really great to talk to everybody today with so many tailwinds behind our back and our morale so high as our team executes on a number of important initiatives to really turn Ivano Mines into one of the best tier one mining companies in the world. We have a lot of problems in the world in the Middle East, and today we're hoping for a peaceful settlement. It may take time. but it's becoming increasingly obvious to everyone in a world where energy is everyone's critical concern, and by that I mean the hydrocarbon coming out of the state of our mutes and all the other chemicals like helium and sulfuric acid that come with the natural gas, that the world will continue to press for an energy transition to diversify away from exclusive reliance on hydrocarbons coming to the strait of our moose, which is roughly 20% of the world's energy. This means that observers like Mercurio, one of the major metals traders, has pointed out that the second half of this year could see an unprecedented demand for copper, literally a stock out, where we could have crazy prices. We are extremely bullish with the supply-demand situation. in copper metal over the next five years, level the second half of this year. As one of the copper producers that is the least exposed to hydrocarbon in the production of copper, Ivano Mines is in a favored position. Our energy is provided by stable hydroelectric power, and you'll recall that we have made great strides in that regard, both in upgrading the electrical grid in the Congo and expanding our hydroelectric assets. And in addition to that, we now have the largest solar field with battery backup that has ever been built in the mining industry. The largest solar field on the African continent will start up next month, producing about 60 megawatts of uninterruptible green power. We expect to double that and in time even triple that So there's an abundance of power coming into the Congo that does not rely on hydrocarbon. The quantum of hydrocarbon that we use to produce copper as a unit of copper production is the lowest in the world. We have a tremendous tailwind in pricing, and we have an unbelievable tailwind in what we're finding with the drill dig in the western forelands. So we are confidently executing a turnaround plan to put Kamokakula right at the top of the world's copper mines, the highest grade mine in the world. It will produce over 500,000 metric tons of copper for a long, long time every year, even without the western forelands. And with that, I think we'll go into the specifics of the quarter, and I'd be happy now to turn this over to marna our chief executive officer and president who has worked so hard and made so much progress in the last quarter and along with the rest of the team thank you marna