PAULSON & CO. INC. 4

What Happened
Paulson & Co. Inc., identified as a 10% owner and investment manager for certain funds, made open-market purchases of International Tower Hill Mines Ltd. (THM) stock. On Jan 28, 2026 Paulson bought 9,813,650 shares at $2.22 each ($21,786,303), and on Jan 29, 2026 it bought 1,501,982 shares at $2.22 each ($3,334,400), for a combined total of 11,315,632 shares and about $25,120,703. These are purchases (transaction code P), which retail investors generally view as a direct buy signal rather than a sale.

Key Details

• Transaction dates/prices/amounts: 2026-01-28 — 9,813,650 shares @ $2.22 = $21,786,303; 2026-01-29 — 1,501,982 shares @ $2.22 = $3,334,400. Total ≈ 11,315,632 shares for ≈ $25,120,703.
• Shares owned after transaction: Not specified in the provided filing excerpts.
• Footnotes: F1 — Paulson is the investment manager of the Funds; John Paulson is the controlling person and, per F2, may be deemed to indirectly beneficially own the securities directly owned by the Funds. The filing includes a Rule 16a-1(a)(4) disclaimer that it is not an admission of beneficial ownership for Section 16 purposes.
• Filing timeliness: Form 4 filed on 2026-01-30 covering trades on 2026-01-28 and 2026-01-29; appears to be filed within the normal two-business-day window.

Context
This activity is institutional buying by a 10% owner (investment manager/funds), not an executive or board member transaction. Institutional purchases can be meaningful to retail investors as they reflect fund-level allocations, but the filing itself does not explain the funds’ strategy or intent.