4Q25 Earnings Results Conference Call Cautionary Statement Net Income (US$ M)(3) 30 406 416 830 4Q24 4Q25 FY24 FY25 +99% Cash Position: US$ 530 M Debt: US$ 710 M Leverage Ratio 6.14x 3.58x 2.80x 2.44x 0.34x 0.22x FY20 FY21 FY22 FY23 FY24 FY25 San Gabriel has reached 99% total progress. Construction is 98% complete. 4Q25 CAPEX related to San Gabriel was US$ 153 M On 29-Jan, BVN received US$ 98 M in dividends from Cerro Verde Buenaventura's Board of Directors has approved a dividend payment of US$ 0.9904 per ...

Core Insights - Ivanhoe Mines reported significant production results for Q3 2025, with Kamoa-Kakula producing 71,266 tonnes of copper and Kipushi achieving a record zinc production of 57,200 tonnes, marking a 37% increase from the previous quarter [1][6][15]. Production Highlights - Kamoa-Kakula's concentrators milled a total of 3.46 million tonnes of ore in Q3 2025, with year-to-date copper production reaching 316,393 tonnes [3][15]. - The company maintains its copper production guidance of 370,000 to 420,000 tonnes for the year, with higher-grade mining expected to commence in mid-November [3][17]. - Kipushi's concentrator processed 168,862 tonnes of ore at an average grade of 37.8%, contributing to the record zinc output [6][41]. Project Developments - Stage Two dewatering at Kakula Mine is over 20% complete, with expectations to finish by the end of November 2025, significantly lowering underground water levels [4][21]. - The start-up of Africa's largest copper smelter is scheduled for early November, with a 60 MW uninterruptible power supply nearing completion to ensure operational stability [5][35]. - First production from the Platreef Mine's Phase 1 concentrator is anticipated by the end of October 2025, with ongoing development for Phase 2 expansion targeting completion in Q4 2027 [10][53]. Future Outlook - The company expects improved copper grades from the Kakula Mine's western side starting next month, with selective mining planned for Q1 2026 [9][18]. - The new life-of-mine plan for Kamoa-Kakula is set to be released in Q1 2026, following inspections of newly dewatered areas [32][67].