Ivanhoe Electric Inc. 10-K

Item 7A. Quantitative and Qualitative Disclosures About Market Risk Interest Rate Risk We have both fixed-rate and variable-rate debt. Fixed-rate debt. Our fixed rate debt at December 31, 2025 consisted of a $33.7 million convertible bond that has a fixed interest rate of 8.0% per annum. The convertible bond is accounted for at amortized cost. Any changes in the market interest rates associated with this financial instrument would not impact our net loss, comprehensive loss or future cash flows. Variable-rate debt. Our variable rate debt at December 31, 2025 was $nil, However, we have an undrawn $200.0 million Bridge Facility at December 31, 2025, related to the Santa Cruz Copper Project, which when drawn will have an interest rate equal to the secured overnight financing rate plus 5.0%. Foreign Currency Risk Our functional currency is the U.S. dollar. The majority of our expenditure is incurred in U.S. dollars at our projects located in the United States and are not subject to foreign currency risk. Outside of the United States, we are subject to foreign currency risk when we undertake transactions in foreign currencies, particularly certain operating expenditures incurred in Colombia and Canada. As the exchange rates between the U.S. dollar and our foreign currencies fluctuate, we experience foreign exchange gains and losses. The carrying amounts of the Company’s Colombian Pesos and Canadian dollar denominated monetary assets and liabilities at the respective statement of financial position dates are as follows: Colombian Peso Balance (in 000’s USD Equivalent) Canadian Dollar Balance (in 000’s USD Equivalent) December 31, 2025 December 31, 2024 December 31, 2023 December 31, 2025 December 31, 2024 December 31, 2023 Cash $ 435 $ 4,851 $ 3,233 $ 2,549 $ 2,663 $ 667 Other receivables 5 2 69 129 189 551 Accounts payable and accrued liabilities (2,472) (1,204) (1,983) (1,290) (81) (443) Other liabilities (1,173) (1,400) (955) — — — $ (3,206) $ 2,249 $ 364 $ 1,388 $ 2,771 $ 775 Year Ended December 31, 2025 2024 2023 Opening exchange rate (1 U.S. dollar to Colombian Pesos) 4,403 3,872 4,841 Closing exchange rate (1 U.S. dollar to Colombian Pesos) 3,733 4,403 3,872 Appreciation/(devaluation) of Colombian Peso 15.2 % (13.7) % 20.0 % Opening exchange rate (1 U.S. dollar to Canadian dollars) $ 1.44 $ 1.32 $ 1.35 Closing exchange rate (1 U.S. dollar to Canadian dollars) $ 1.37 $ 1.44 $ 1.32 Appreciation/(devaluation) of Canadian dollar 4.7 % (8.8) % 2.4 % As at December 31, 2025, a 10% depreciation or appreciation of these foreign currencies against the U.S. dollar would have resulted in an approximate $0.2 million decrease or increase in the Company’s net loss for the year ended December 31, 2025 (December 31, 2024 - $0.5 million, December 31, 2023 - $0.1 million). 105 Table o f Contents