Turquoise Hill Resources Ltd. (Turquoise Hill or the Company) announced today that it has implemented the previously announced consolidation (or reverse stock-split) of the Company’s issued and outstanding common shares (the Common Shares)at a ratio of one post-consolidation share for every ten pre-consolidation shares, effective today, October 23, 2020 at 5:00 p.m. (Eastern Standard Time) (the Consolidation). The Consolidation was previously approved by the Company’s shareholders at the annual and special meeting of shareholders held on July 24, 2020.
Both the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) have approved the Consolidation and have informed the Company that its Common Shares will commence trading on a postConsolidation basis at market open on Monday, October 26, 2020. The Common Shares continue to trade on the NYSE and the TSX under the existing ticker symbols. The new CUSIP number for the Common Shares is 900435207 and the new ISIN is CA9004352071.
Registered shareholders are reminded that they are required to exchange their pre-Consolidation Common Shares for post-Consolidation Common Shares by sending their certificate(s) representing their preConsolidation Common Shares, along with a properly executed letter of transmittal, to AST Trust Company
(Canada) (AST) in accordance with the instructions provided in the letter of transmittal. AST mailed a new letter of transmittal to all registered shareholders on October 16, 2020. Shareholders who have already returned their certificates to AST with a properly executed letter of transmittal are not required to take any further action with respect to the Consolidation. If a registered shareholder has not yet received a letter of transmittal, a copy of the new letter of transmittal is available on the Company's profile on SEDAR at www.sedar.com, andhas also been posted on the Company’s website at www.turquoisehill.com. Shareholders who hold their Common Shares through a securities broker, dealer, bank or other financial institution are not required to take any action with respect to the Consolidation and should contact that intermediary for their post-Consolidation positions.

Further details on the Consolidation are contained in the amended management information circular of the Company dated June 17, 2020 and in the press release dated October 1, 2020, both of which have been filed
and are available under the Company’s profile on SEDAR at www.sedar.com.