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FY26Resultsand New FeasibilityStudyPresentation 27 August2026 ASX:BOE OTCQX:BQSSFA global multi- mine Uranium producer. bossenergy.com
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Disclaimer and Important Notices Boss makes no representations as to the accuracy or completeness of any forward-looking statements or projections or that any forecasts will be achieved. Additionally Boss makes no representation or warranty, express or implied, in relation to, and (to the maximum extent permitted by law) no responsibility or liability (whether for negligence, under statute or otherwise) is or will be accepted by Boss or by any of its officers, directors, shareholders, partners, employees, or advisers as to or in relation to the accuracy or completeness of the information, statements, opinions or matters (expressor implied) arising out of, contained in or derived from this Presentation or any omission from this Presentation. Boss does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in Boss’s expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. Mineral Resource estimates are necessarily imprecise and depend on interpretations and geological assumptions, minerals prices, cost assumptions and statistical inferences (and assumptions concerning other factors, including mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and governmental factors) which may ultimately prove to be incorrect or unreliable. Mineral Resource estimates are regularly revised based on actual exploration or production experience or new information and could therefore be subject to change. In addition, there are risks associated with such estimates, including (among other risks) that minerals mined may beof a different grade or tonnage from those in the estimates and the ability to economically extract and process the minerals may become compromised or not eventuate. Accordingly, this is another reason why no assurances can be given of whether the production guidance, financial forecasts orother forecasts or other forward- looking statements or information in this Presentation will be achieved. EFFECT OF ROUNDING All dollar amounts are in Australian dollars unless otherwise indicated. A number of figures, amounts, percentages, estimates, calculations of value and fractions in this Presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this Presentation. MINERAL RESOURCE ESTIMATES The information in this Presentation that relates to the Mineral Resource estimate for the Honeymoon Deposit was reported in an announcement by the Company dated 27 August 2026 titled “Honeymoon NFS confirms continued economic production”. The information in this Presentation that relates to the Mineral Resource Estimate for Gould’s Dam and the Jasons Deposit wasreported in an announcement by the Company dated 19 March 2026 titled “Gould’s Dam and Jasons Deposit Mineral Resource and Permitting Update.” The Company confirms that it is not aware of any new information or data that materially affects the information included in theoriginal market announcements referred to above and that all material assumptions and technical parameters underpinning the Honeymoon Deposit, Gould’s Dam and Jasons Deposit Mineral Resource estimates in the original market announcements referred to above continue to apply and have not materially changed. PRODUCTION TARGET AND FORECAST FINANCIAL INFORMATION The information in this Presentation that relates to the production target (and forecast financial information derived from the production target) for the Honeymoon Deposit was reported in an announcement by the Company dated 27 August 2026 titled “Honeymoon NFS confirms continued economic production.” The Company confirms that all the material assumptions underpinning the production target and forecast financial information derived from the production target in that announcement continue to apply and have not materially changed. The production target and forecast financial information for the Honeymoon Deposit referred to in this Presentation is based on 65% Indicated Mineral Resources and 35% Inferred Mineral Resources over the 9-year life of mine. The first 4 years of the production target is underpinned by 89% Indicated Mineral Resources and 11% Inferred Mineral Resources. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target will be realised. The Company believes that it has a reasonable basis for providing the production target and forward-looking statements in this Presentation announcement as the Inferred Mineral Resources are not the determining factor in project viability (noting, most significantly that Honeymoonis already in production). Refer to Section 12 of the New Feasibility Study (attached to the Company’s announcement dated 27 August 2026 titled “Honeymoon NFS confirms continued economic production.”) for the material assumptions underpinning the production target and forecast financial information. This investor presentation (“Presentation”) has been prepared by Boss Energy Limited (ACN 116 834 336) (“Boss Energy” or “Company”). NOT INVESTMENT ADVICE This Presentation does not constitute in any way an offer or invitation to subscribe for securities in Boss Energy pursuant to the Corporations Act 2001 (Cth) and has not been lodged with the Australian Securities and Investment Commission. This Presentation does not constitute investment advice and has been prepared by Boss Energy without taking into account the recipient’s investment objectives, financial circumstances or particular needs. Each recipient must make his/her own independent assessment and investigation of Boss Energy and its business and assets when deciding if an investment is appropriate and should not rely onany statement or the adequacy and accuracy of any information. This Presentation is in summary form and is not exhaustive. This Presentation should be read in conjunction with Boss Energy’s periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available to download at www.asx.com.au . Boss Energy makes no representation or warranty (either expressed or implied) as to the accuracy, reliability or completenessof the information contained in this Presentation. Boss Energy and its directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or for any omissions from the Presentation, except liability under statute that can not be excluded. PAST PERFORMANCE Past performance information, including past share price performance of Boss and past Honeymoon Project information, given inthis Presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of Boss’s (or anyone else’s) views on Boss’s future activities, guidance or financial performance or condition. Past performance of Boss cannot be relied upon as an indicator of (and provides no guidance as to) the future performance of Boss. FORWARD LOOKING STATEMENTS This Presentation contains certain forward-looking statements provided by or on behalf of Boss with respect to potential future matters. Forward-looking information may include, without limitation, statements regarding plans, strategies and objectives of Boss, production and financial guidance, financial forecasts, estimates of project milestones and timing and expected costs or production outputs. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Guidance as to production, unit costs and capital expenditure is based on assumptions, budgets and estimates existing at the time of assessment which may change over time impacting the accuracy of those estimates. These estimates are developed in the context of an uncertain operating environment including in respect of inflationary macroeconomic conditions, and uncertainties surrounding the risks associated with mining which may impact production and have a flow on effect on sales. Actual results may therefore vary significantly depending on these risks and the timing required to address them. Forward-looking statements reflect Boss’s expectations at the date of this Presentation, however they are not guarantees or predictions of future performance or statements of fact. Forward-looking information involves known and unknown risks, uncertainties and other factors (many of which are beyond the control of Boss and its directors and management) which may cause the actual results, performance or achievements of Boss and its business to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Accordingly, undue reliance should not be placed on forward-looking information. The forward-looking statements in this Presentation reflect various assumptions by or on behalf of Boss (which assumptions may prove to be inaccurate). Accordingly, this is another reason why such statements are subject to significant business, technical, legal, economic and competitive and other uncertainties and contingencies and other factors which may be beyond the control of Boss which could cause actual results or trends to differ materially from the forward-looking statements in this Presentation, including but not limited to differences or inaccuracies arising from price and currency fluctuations, geotechnical factors, geological and mining factors, estimated continuity of mineralised horizons, metallurgical and processing factors, sales factors, drilling and production results, development progress, operating results, mineral resource estimates, legal issues, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries, approvals and cost estimates, environmental risks, ability to meet funding requirements, share price volatility, uranium markets and other matters. Accordingly, there can be no assurance that such forward-looking statements and projections will be realised. BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 2
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Boss Energy – Major Achievements BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 3 FY26 Financial Results Doubled revenue, recorded positive cashflow and strengthened our debt- free balance sheet despite being a capital- intensive year 1 New Feasibility Study Honeymoon NFS confirms continued economic uranium production, underpinned by Boss’ world-class ISR capability, operating experience and advanced modelling 2 FY27 Guidance FY27 transition builds the foundations for Honeymoon’s production ramp-up and long-term value 3 Boss enters FY27 with a strong balance sheet, an economically robust plan for Honeymoon, a platform for growth and significant leverage to a strengthening uranium market
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FY26 Results BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 4
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FY26 Results A year of significant operational and technical progress, with a strong, debt-free balance sheet Net Profit After Tax $2.5M net profit after tax, a $36.7M improvement on the FY25 loss * Uranium Inventory 1.581Mlbs of uranium inventory on hand, worth approximately $195M at spot Balance Sheet $207.3M in cash and liquid assets, and debt free Reinvestment $65.9M invested at Honeymoon in infrastructure and technical work to underpin a sustainable pathway Sales Revenue $151.1M in sales revenue, doubled from $75.6M in FY25, at an average realised price of $111/lb BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 5
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FY26 – Results Highlights FINANCIAL Revenue FY26 $151 M FY25 $76 M Profit / (loss) after tax FY26 $3 M FY25 ($34 M) Operating cashflow FY26 $74 M FY25 $17 M Cash and liquid assets FY26 $207 M FY25 $224 M OPERATIONS Production FY26 1,407 klbs FY25 872 klbs Realised price FY26 US$74 /lbs FY25 US$78 /lbs C1 cost FY26 $39 /lbs FY25 $35 /lbs Inventory (drummed U3O8) FY26 1,581 klbs FY25 1,409 klbs BossEnergy. Aglobal multi-mine Uranium producer FY26Results / Feasibility Presentation 6 Net profit for the year while maintaining a strong balance sheet
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Revenue doubled, a return to profit and a strong debt-free balance sheet 7 . A global multi-mine Uranium producerBossEnergy FY26Results / Feasibility Presentation • Revenue doubled to $151.1 million on the sale of 1,400klbs of U₃O₈ at an a verage realised price of $111/lb, delivering a net profit of $2.5 million – a $36.7 million turnaround. • Operating cash flow of $73.6 million funded $66.7 million of mine development, with cash increasing by $13.1 million to $49.7 million. • Balance sheet remains strong at $207.3 million of cash and liquid assets with no debt, including uranium inventory of $116.3 million, at book value. • Inventory grew to 1.581Mlbs, which has a potential market value that is higher than the book value – approximately $195 million at spot price 1 – Boss remains deliberately under-contracted. • FY2026 C1 cost of $39/lb (US$26/lb), AISC of $61/lb (US$41/lb) and Honeymoon capital expenditure of $65.9 million were all within revised g uidance. 7 $000’s FY2026 FY2025 Profit & loss Revenue 151,072 75,596 Operating costs (122,033) (87,636) Other expenses and income tax (26,495) (22,128) Net profit / (loss) after tax 2,544 (34,168) Cash flow Opening cash 36,531 67,122 Net cash from operating activities 73,636 17,384 Net cash used in investing activities (56,757) (48,205) Financing, FX and other movements (3,739) 230 Closing cash 49,671 36,531 Financial position Cash and liquid assets 207,312 224,334 Other assets 334,539 303,881 Total liabilities (64,238) (44,536) Total net assets 477,613 483,679 FY2026 Financial Summary 11.581Mlbs at UxC spot rate on 29 June 2026 of US$84.75 and AUD:USD of 0.6869
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New Feasibility Study (NFS) BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 8
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Economic production confirmed` Wide-spaced ISR wellfield design supports production to at least FY34 with planned drummed U3O8 of 13.8Mlbs1 Wider spacing lowers costs Life-of-mine AISC reduced by around A$30/lb on a like-for-like basis Favourabledeposit characteristics High permeability, aquifer confinow groundwater flow velocity and acid demand Benchmarked globally Design and operating parameters in line with established ISR operations World-class mine planning Reactive transport modelling calibrated against operating data Honeymoon NFS confirms economic production World-class ISR capability, operating experience and advanced modelling underpin the pathway BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 9 Wider well spacing establishes a lower-cost, capital-efficient life-of-mine plan and a robust pathway to long-term uranium production. Capital-light facilities spend Only $58M of additional facilities capital, phased over the life-of-mine 1Refer to cautionary statement regarding the production target on Page 2.
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BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 10 1Refer to ASX announcement dated 18 December 2025, ‘Honeymoon Update’. 01 THE CHALLENGE1 The EFS design assumptions no longer reflected the orebody Higher-grade mineralisation discontinuous Mineralisation hosted in clays Less overlap across stacked horizons Smaller productive wellfields Increasing AISC 02 THE COST RESET Incremental savings could not unlock the lower-grade resource Extensive low-grade mineralisation EFS approach would have lifted capital and cost per pound A fundamental change in cost structure is required 03 THE PATHWAY FORWARD Wider spacing changes the economics of wellfield development Fewer wells and less infrastructure Longer lixiviant residence time Higher PLS grades and a lower cut-off TECHNICAL FOUNDATION Honeymoon's deposit characteristics support the wider-spaced design Strong hydraulic connectivity High permeability Favourable mineralogy Low groundwater flow velocity Continuous low- grade mineralisation Wider-spaced wellfield design addresses the cost challenge Honeymoon Review to NFS Pathway
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The Honeymoon NFS Journey Resource redefinition and the pathway to a wide-spaced wellfield design PROBLEM IDENTIFIED HONEYMOON REVIEW NEW FEASIBILITY STUDY JUL 2025 Deviation flagged FY26 guidance notes delineation drilling at East Kalkaroo showing less continuity of mineralised horizons than assumed in the 2020 FS and 2021 EFS. SEP 2025 Review and drilling underway Honeymoon Review commences alongside an accelerated delineation drilling program at East Kalkaroo and Brooks Dam. DEC 2025 EFS withdrawn, new study initiated Review confirms a material deviation from EFS assumptions. The EFS is withdrawn and a New Feasibility Study is initiated on a wide-spaced wellfield design. Q1 CY26 Resource and growth work programs Initial update delivered, with an updated Gould’s Dam and Jasons Deposit Mineral Resource estimate and permitting update released in March 2026. Captures some understandings from Honeymoon. Q2 CY26 Progressed directly to Feasibility Study Progressed directly to Feasibility (versus Scoping) Study and transitioned to wide-spaced wellfield design. Q3 CY26 New Feasibility Study delivered Updated Mineral Resource of 20.8 Mlbs U₃O₈ 1 and the completed New Feasibility Study set the basis for wide- spaced wellfield development. A defined pathway forward Twelve months of drilling, operating data and independent review have replaced the withdrawn EFS with a materially improved understanding of Honeymoon.The quality and integrity of the NFS is underpinned by current production outcomes, particularly on lixiviant and processing plant performance; Significantly more and closer spaced drilling to inform MRE; Benchmarking against best practice ISR globally. BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 11 1Refer to page 13 for further detail on Mineral Resource Classification for the Honeymoon Deposit
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Mineral Resource Estimate Update BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 12
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FY26 /Results Feasibility Presentation 13 Mineral Resource Estimate Honeymoon Deposit Updated Mineral Resource Estimate Notes • The Mineral Resource estimate is classified in accordance with the JORC Code (2012). • The Mineral Resource database has a cut-off date of 31 December 2025. • The effective date of the Mineral Resource estimate is 30 June 2026. • The Mineral Resource estimate is reported at an in-situ cut-off of 100 ppm U3O8. A grade-thickness (GT) cut-off of GT≥400 m.ppm U3O8 was applied selectively in border areas of the MRE. • Only the recoverable portion of blocks ≥100 ppm U3O8 is reported. • The Mineral Resource is constrained to an ISR-amenable permeability threshold of KSDR≥100 mD. • The Mineral Resource is mainly based on equivalent U3O8 (eU3O8), without adjusting for localised radiometric disequilibrium effects. • The Mineral Resource estimate is reported net of depletion from the Honeymoon in-situ recovery (ISR) extraction of 3.3 MlbsU3O8 (1.5 Kt U3O8) as of 30 June 2026 by subtraction of extracted metal tonnes from Indicated Resource metal tonnes. • The Mineral Resource estimate is reported on an in-situ tonnes basis. • The Mineral Resource estimate is rounded to reflect the level of confidence in the estimate at the time of reporting. • Totals may vary due to rounding. • The Mineral Resource estimate is reported both within the Honeymoon ML6109 licence and outside in EL6081 licence. BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation Resource Classification Mt Grade (ppm U3O8) Metal (Kt U3O8) Metal (Mlbs U3O8) Indicated 12.1 510 6.2 13.7 Inferred 9.3 350 3.2 7.1 TOTAL 21.4 440 9.4 20.8 Honeymoon Project Mineral Resource Estimate — effective date 30 June 2026, reported net of ISR depletion of 3.3 Mlbs U3O8 to 30 June 2026. 20.8 Mlbs U3O8 Of metal at 440 ppm — 66% Indicated and 34% Inferred 65.9 Mlbs U3O8 Total Mineral Resource across the Honeymoon Catchment, including 45.1 Mlbs at Goulds Dam and Jasons1 Change of cut-off to 100ppm U3O8 Change of cut-of-grade from 250ppm to 100ppm U3O8 All MREs Updated in CY26 Boss has updated all MREs during CY26, capturing improved understandings gained from Honeymoon FY26Results / Feasibility Presentation 13 RSC Completed by RSC, with Competent Person Guillaume Lorilleux (PhD), ex- Orano Updated Mineral Resource foundation The NFS is underpinned by an updated MRE incorporating substantially increased drilling density, revised geological interpret ations, operating permeability data and experience gained since production recommenced — enabling a materially enhanced understanding of mineralis ation grade and distribution, geology and permeability. 1Refer to Appendix 1 for further details of Mineral Resource classification for Gould’s Dam and Jasons Deposit
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Data rich environment 2026 Mineral Resource Estimate BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 14 86,670 additional metres 685 additional drillholes for 86,670 m of drilling within the MRE model area — a 34% increase in drill metres since 2019 97% rotary mud of the MRE dataset, with diamond core, sonic drilling completing the database Increased drill density 5–40 m at Honeymoon, 10–60 m East Kalkaroo, 20–100 m Central Kalkaroo and 20– 40 m Brooks Dam (main portion) Gamma and PFN calibrated downhole gamma (eU3O8) with quality-ranked PFN validated against sonic core assays; ~99% equivalent grades precludes classification as Measured resources Deposit-wide nuclear magnetic resonance (NMR) permeability models define ISR-amenable domains, calibrated against commercial ISR production performance Figure: Drilling completed since 2019 (Red) informing the new Mineral Resource. Honeymoon is a sandstone-hosted palaeovalley uranium deposit, with mineralisation in permeable Eyre Formation sands at 80–120 m depth, controlled by redox interfaces, permeability contrasts and palaeovalley geometry.
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Mineral Resource Estimate Honeymoon Deposit Updated Mineral Resource BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 15 6-km strike length - mineralisation extends along the palaeovalley, up to 650 m wide, at depths of approximately 80 m to 120 m below surface. Continuous mineralisation - reaching thicknesses of up to 34 m at a 100-ppm U₃O₈ cut-off within permeable lithologies. Four estimation domains - East Kalkaroo, Central Kalkaroo, Honeymoon and Brooks Dam. Basal aquifer of the Eyre Formation - hosts most mineralisation, concentrated in the lower sand units across the Honeymoon and East Kalkaroo domains. Brooks Dam mineralisation is primarily hosted in the upper portion of the sequence. ISR extractability and RPEEE - mineralisation has been excluded from the MRE where these criteria are not met, primarily reflecting permeability constraints within portions of the deposit. Figure: Plan view of the Honeymoon Deposit showing the deposit grade-thickness distribution of Resource blocks at 100 ppm U3O8 cut-off with continuous mineralisation over a 6-km strike length, and geographical domains.
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What has changed More drilling and data 716 holes for 90,651 m drilled since the 2019 MRE — a 34% increase in drill metres ISR permeability screen Only permeable reservoir sands (KSDR ≥100 mD) included; uranium hosted in clay excluded Tighter domaining and RPEEE Revised Eyre Formation and grade domains Depletion since 2019 2.5 Mlbs U₃O₈ extracted to 30 June 2026 (3.3 Mlbs total depletion) Lower cut-off grade 250 ppm to 100 ppm considering the wide-spaced wellfield design, adding low-grade resource Change against the 2019 Mineral Resource 2026 Mineral Resource Estimate U₃O₈ Metal (Mlbs, depleted pre-2019) 2019 MRE 35.9 2026 MRE 20.8 A decrease of 15.1 Mlbs U₃O₈ (42%) with the 2026 MRE depleted for extraction post 2019 (2.5Mlbs to 30 June 2026) at a cut-off grade of 100ppm eU3O8 and the 2019 MRE not depleted for extraction post 2019 and reported at a cut-off grade of 250ppm eU3O8. U₃O₈ Metal (Mlbs, undepleted @ 250ppm cut-off) 2019 MRE 2026 MRE 13.6 A decrease of 23.1Mlbs U₃O₈ (-63%) with both the 2019 and 2026 MRE undepleted for all extraction and reported at a cut-off grade of 250ppm eU3O8 for both MRE 36.7 −42% BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 16 Consistent with the Honeymoon Review The updated MRE confirms the key findings of the Honeymoon Review announced on 18 December 2025 — particularly the importance of permeability and extractability considerations, along with less continuity of higher-grade mineralisation above a 250 ppm cut-off. Add back depletion −63% −35%
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Wellfields BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 17
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Honeymoon Deposit Characteristics Deposit characteristics that enable wide-spaced wellfield design BossEnergy. A global multi-mine Uranium producer FY26Results / Feasibility Presentation 18 High permeability and flow capacity Operating data confirms high hydraulic conductivity Sustained flow rates over greater distances give the hydraulic basis for wider injector-to-producer spacing. 40 m/day basal sand K 0.30 effective porosity ≥100 mD KSDR threshold Clayey sand – limited flow Coarse sand – fast efficient flow Strong lateral hydraulic conductivity Interconnected sand bodies form a continuous flow system The aquifer is laterally connected, allowing pressure and flow to propagate efficiently between wider- spaced wells. ~6 km continuous strike 49 m injector to extractor ~32 m³/h average well flow Disconnected sand bodies — poor well communication Continuous sand channels – strong well to well communication Laterally extensive mineralisation Discontinuous high-grade zones occur within a continuous low- grade envelop The continuous mineralised envelope links discontinuous high-grade zones, allowing wider-spaced patterns to intercept mineralisation reliably. 100 ppm U₃O₈ resource cut-off 600 m.ppm pattern GT minimum Continuous low-grade envelope – reliable pattern coverage Favourable vertical continuity Mineralisation extends across a substantial vertical interval Vertically continuous low- grade mineralisation, with locally continuous high- grade lenses, supports effective sweep across wider-spaced patterns. 3 stacked horizons (at a lower cut-off grade 1–3 levels per pattern 4 m of minimum vertical continuity Thicker ore behind the screen Favourable mineralogy Low reagent demand; limited carbonate and reactive clay The lixiviant remains effective over longer flow paths. Moderate oxidant demand and minimal carbonate / clay buffering promote rapid uranium dissolution. ~6 kg/t acid consumed (based on commercial production data) ~1.8% reactive smectite ~20% kaolinite, non-reactive Low-buffering sand — acid remains effective Effective confinement and hydraulic control The Namba Formation provides effective vertical confinement Combined with the low natural groundwater-flow velocity, this limits dilution and enables controlled circulation at wider spacing. 0.0001 m/day Namba vertical K up to 40 m clay confining unit 50–55 m standing water level Flow remains within the ore bearing aquifer Clay & carbonate rich sand – pH front retarded pH pH
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Advanced ISR Mine Planning RTM links the resource model directly to wellfield performance and the life-of-mine schedule BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 19 3D RESOURCE Grade, thickness and uranium inventory HYDROGEOLOGY Permeability, porosity and connectivity GEOCHEMISTRY Mineralogy, acid and oxidant demand OPERATIONS Spacing, flow, screens and lixiviant chemistry RECOVERY Timing and cumulative extraction PLS CHEMISTRY Uranium tenor, pH and redox REAGENTS Acid and oxidant consumption MINE PLAN Wellfield curves and production schedule REACTIVE TRANSPORT MODEL HYTEC + Boss workflow Every future wellfield receives a production response reflecting its local geology, permeability, hydraulic connectivity and geochemistry. A time-dependent, three-dimensional framework replaces generic recovery factors with wellfield-specific production responses.
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Preferred balance BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 20 The wider-spaced wellfields are a more appropriate design based on the Honeymoon Deposit characteristics Sub-optimal Rapid breakthrough; high development intensity; Sub-optimal recovery Improved residence time & leaching efficiency with controlled operability Slower recovery and greater dependence on hydraulic continuity Preferred balance Diminishing benefit Uranium Dissolution Efficiency curve is based on the Damköhler number. It relates the chemical reaction timescale (reaction rate) to the transport phenomena rate. The NFS baseline is selected before the response reaches the diminishing-return region
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BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 21 RTM quantifies the spacing trade-off Wider spacing lifts recovery and cuts development intensity The analysis tested spacing, geometry, flow and kinetics across the full planned wellfield inventory. 35 m HISTORICAL Wells (injection and extraction) Wellfields (8-pattern) 116 Average PLS tenor 29 mg/L 2,480 Residence time 80 days Ultimate recovery 80% U₃O₈ per extraction well 15.4 klbs Acid consumption 6 kg/t 49 m NFS BASE CASE Wells (injection and extraction) Wellfields (8-pattern) 53 Average PLS tenor 37 mg/L 1,340 Residence time 150 days Ultimate recovery 90% U₃O₈ per extraction well 33.0 klbs Acid consumption 8 kg/t 70 m LARGER SPACING Wells (injection and extraction) Wellfields (8-pattern) 37 Average PLS tenor 40 mg/L 670 Residence time 275 days Ultimate recovery 93% U₃O₈ per extraction well 67.0 klbs Acid consumption 13 kg/t Injector-to-extractor spacing. Ultimate recovery refers to uranium intercepted by the simulated wellfields. Percentage changes compare the 49 m NFS base case with the 35 m historical design. 49 m NFS BASE CASE versus 35 m historical –46% Wells drilled –54% Wellfields +114% U₃O₈ per extraction well +28% Average PLS tenor
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Benchmarked Against Global ISR Operations Wider spacing, stronger well flow and lower acid demand than peer ISR operations BossEnergy. A global multi-mine Uranium producer FY26Results / Feasibility Presentation 22 Injector-to-extractor well spacing Honeymoon sits within the band adopted at large ISR operations globally Honeymoon — NFS base case Australia, five-spot 49 m Honeymoon — larger spacing optimisation opportunity 70 m Kharasan 2 Kazakhstan, seven-spot 45–50 m Budenovskoye 2 / Karatau Kazakhstan, five-spot / linear 45–50 m JV Inkai Kazakhstan, seven-spot / line drive 35–65 m Chieli / Karamuran Kazakhstan, seven-spot 40 m 0 20 40 60 80 metres, injector to extractor Extraction well flow average per extraction well, cubic metres per hour Honeymoon New Feasibility Study 32 JV Inkai per production well, NI 43-101 8.0–10.5 Typical global ISR IAEA deposit dataset 1.8–10.8 Acid consumption ~6 kg/t sulphuric acid per tonne of rock under leach compares favourably to other deposits Very little acid consuming gangue minerals Quartz, kaolinite and muscovite — inert under leach 1.8% reactive clay Pore volumes to recovery 26 PVE modelled for 90% recovery, in line with Kazakh ISR at 15–30 PVE and well below the 70 PVE for 70% assumed in earlier Honeymoon studies Honeymoon figures from the New Feasibility Study. Peer data from Boss records, the IAEA Nuclear Energy Series (2016) ISR deposit dataset, and the Cameco Inkai Operation NI 43-101 Technical Report (2024). Comparison is illustrative rather than exhaustive.
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BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 23 The wellfields have been planned on a well-by-well basis Wellfields plan 1Refer to cautionary statement regarding the production target on Page 2 2Due to localised variances in forecast recovery rates of Indicated and Inferred material, the production target and forecast financial information referred to in this announcement (including attachments) is based on 65% Indicated Mineral Resources and 35% Inferred Mineral Resources over the 9-year life of mine. ~13.8 Mlbs U₃O₈ drummed1 - life-of-mine production under the NFS base case, with output peaking at 1.9 Mlbs a year. Nine-year mine life - a continuous production profile running through to FY2035 (with 8 full years to FY2034), on the wide-spaced design. 59 wellfields (8-pattern; 5-spot) - total planned including existing, with around eight new wellfields brought online each year and 16 active on average. 1,340 wells - total planned including existing, on 49 m injector-to-extractor spacing and roughly 45 days conditioning per wellfield. 65% Indicated, 35% Inferred2 - classification split of planned drummed production, of which 85% sits within ML6109 and 15% outside in EL6081.
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Process Plant and Infrastructure BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 24
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BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 25 Plant and Supporting Infrastructure Established Operation and Infrastructure Existing infrastructure Full ongoing utilisation of existing processing plant, trunklines and other infrastructure Proven processing performance More than 2.3 Mlbs of drummed U₃O₈ produced since restarting in April 2024, demonstrating proven processing performance and the effectiveness of the existing lixiviant chemistry and resin loading and unloading circuits. Targeted capacity upgrades NIMCIX Column 6 lifts nominal flow capacity from 2,450 to 2,940 m³/h (+20%) during FY30, alongside the Brooks Dam trunkline and HV extension and the staged Water Treatment Plant expansion. Production upside Earlier delivery of the Water Treatment Plant expansion, or continued optimisation of water treatment requirements, could accelerate ramp -up and exceed 1.9 Mlbs of drummed U₃O₈. Established operating facility - The NFS production schedule is supported by the existing facility plus committed capacity and reliability upgrades, with water treatment the key enabler of the wellfield development rate.
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Plant and Supporting Infrastructure Water Treatment Plant BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 26 Key enabler of wellfield development Supplies RO permeate for wellfield conditioning and process use; capacity and availability set the rate new wellfields come online. Eight wellfields per year The life-of-mine plan assumes around eight new wellfields annually, each conditioned over approximately 45 days. Established treatment process Neutralisation, softening and reverse osmosis; permeate is reused across the plant and wellfields, with RO reject sent to the Liquid Disposal Pond. Debottlenecking of Existing Plant Debottlenecking the existing plant through pumped clarifier transfers, dosing and RO manifold upgrades and a new CIP system, lifting treated water to about 130 m³/h (target completion – Q4FY27). Second Water Treatment Plant BLS bleed preconditioning plus a duplicate neutralisation and softening train lift RO feed to 300 m³/h, producing around 210 m³/h of permeate (target completion – Q3FY28). Optimisation of ramp-up - Wellfields have averaged around 0.7 pore volume equivalents of flushing against the 1 PVE assumed for NFS and options to accelerate development of the second water treatment plant.
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Life-of-Mine Plan and Cost BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 27
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Production schedule with the capacity upgrades that unlock each phase Supporting process facility upgrades to enable production increase BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 28 Honeymoon production only, as set out in the New Feasibility Study, U3O8 drummed, Mlbs1 1.3 1.5 1.7 1.9 1.9 1.9 1.9 1.4 0.3 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35 Flow, Mm³ 17 20 21 22 24 25 23 21 5 PLS, mg/L 36 36 39 41 38 37 39 33 22 Capacity 1 2 3 4 5 1 FY27 WTP Stage 1 2 FY28 WTP Stage 2 3 FY29 Build of NIMCIX Column 6 begins 4 FY30 Column 6 online: plant flow up 20 per cent to 2,940 m³/h. 5 FY31 Wellhouse re-use begins, lowering sustaining capital Optimise ramp -up FY2027–29 ramp-up, not yet optimised Steady State FY2030–33 steady state at ~1.9Mlbs Potential growth and / or LOM Extension Including from Gould’s Dam and Jasons Deposit, which are not included in NFS and are subject to separate studies 1Refer to cautionary statement regarding the production target on Page 2.
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Operating costs expected to reduce as production ramps up OperatingCosts BossEnergy . A global multi-mine Uranium producer FY26Results / Feasibility Presentation 29 C1 Cash Cost (A$/lb U₃O₈ drummed, FY2027–FY2034)1 40% 36% 15% 9% Reagents Labour & G&A Power & maint. Wellfield FY2027–29 ramp-up, not yet optimised FY2030–33 steady state at— C1 $47/lb - - - Life-of-mine average (to FY2034) $50/lb 53 FY27 54 FY28 49 FY29 46 FY30 47 FY31 48 FY32 47 FY33 56 FY34 FY2027–29 reflects a transition period while water treatment is improved C1 average of $50/lb (to FY2034). Initial years of FY2027 to FY2029 are higher as plant is continuing to ramp up with fixed cost base. ~$47/lb once at the 1.9Mlbs run rate From FY2030 production C1 settles between $46–48/lb through to FY2033. Reagents and fixed labour set the base Sulphuric acid and other consumables are around 40% of cost, with labour and general & admin a further 36%. Reagent use correlated to average PLS grade. 1Refer to cautionary statement regarding the production target on Page 2.
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Most capital relates to wellfields - 5 10 15 20 25 30 35 - 10 20 30 40 50 60 70 2027 2028 2029 2030 2031 2032 2033 2034 $/lb$M Plant Wellfield equipment First fill Production wells Processing facilities (non-sustaining) Sustaining Capital per pound (RHS) BossEnergy. Aglobal multi-mine Uranium producer FY26Results / Feasibility Presentation 30 Total capital by year, A$M Disciplined capital spend while continuing to invest in ongoing production 84% — Sustaining capital Wellfield development assumed to be spent in advance of wellfields coming online. Costs comprise approximately one third each on wellfield equipment, first fills and production wells. $58M — Processing facilities capital across LOM Non-sustaining capacity capital totals $58M across life-of-mine for Water Treatment Plant, Column 6, gypsum ponds and Brooks Dam trunkline / HV extension. A$5–7M — Per wellfield Committed as required. Costs are mostly based on actual costs and are expected to reduce as infrastructure is reused from the back half of the mine life. No ‘rescreening’ of wells has been assumed.
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Benefits of wide spacing Wide-spacing has materially improved unit economics of new wellfields Key Outcome: Transition to wide-spacing materially improves unit economics and overall value outcome Improvement 41 19Sustaining capital A$/lbs $22/lbs 53% 58 46C1 Cost A$/lbs $12/lbs 20% 107 74AISC A$/lbs $34/lbs 31% 16 48Revenue less AISC1 A$/lbs $33/lbs 209% 3 17Net Present Value1 $M $14M 510% 45 261IRR1 % 216pp Comparison of historical vs NFS design Wellfields B7 and B9Wellfield EKT1 BossEnergy. A global multi-mine Uranium producer FY26Results / Feasibility Presentation 31 B7 / part of B9EKT1 1Key assumptions: 10% real discount rate for NPV; production sold as produced at US$90/lb and 0.70 AUD:USD; real terms, excludes indirect capital allocation, corporate and exploration costs.
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Optimisation and Growth BossEnergy. Aglobal multi-mine Uranium producer FY26Results / Feasibility Presentation 32
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BossEnergy. A global multi-mine Uranium producer FY26Results / Feasibility Presentation 33 Value enhancement beyond the NFS Base Case The NFS base case provides clear optimisation upside Given the accelerated timeframe and defined scope, four workstreams could further enhance value and accelerate the ramp-up. 01 WATER TREATMENT & USAGE Increase capacity and reduce water intensity Accelerate WTP design, procurement and construction Reduce conditioning and flushing requirements using recent operating performance 02 WELLFIELD DELIVERY Bring new wellfields online earlier Accelerate drilling, construction and commissioning in step with WTP capacity Further optimise wellfield spacing and design 03 RECOVERY & REAGENTS Lift recovery and utilise spare plant capacity Increase PLS tenor and recovery to utilise back-end capacity Optimise reagent consumption and reuse first-fill reagent 04 PLANT & CAPITAL Improve availability and capital efficiency Pursue wellhouse capital-cost improvements Improve plant availability and deliver low-capital debottlenecking POTENTIAL OUTCOMES Subject to further technical work and execution Accelerate the production ramp-up Enhance long-term value and unit-cost performance
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GrowthBeyond Honeymoon A combined 65.9MlbsU₃O₈ across three deposits Deposit Ore (Mt) Grade (ppm) Mlbs U₃O₈ Goulds Dam1 38.7 388 33.1 Jasons1 13.3 410 12.0 Honeymoon 21.4 440 20.8 TOTAL 73.3 410 65.9 BossEnergy. A global multi-mine Uranium producer FY26Results / Feasibility Presentation 34 45 Mlbs U₃O₈1 of metal at Goulds Dam and Jasons, both considered highly prospective for ISR mining. Regional production hub leveraging Honeymoon’s existing processing plant, infrastructure and permitting framework. Capital-efficient growth Boss’s ISR capability and operating workforce provide a low- capital pathway to future production. A single-platform growth opportunity 65.9 Mlbs U₃O₈ across three deposits within the Honeymoon District, extending mine life and ramping up production beyond 1.9Mlbs pa with a low-capital-cost pathway 1Refer to Appendix 1 for further details of Mineral Resource classification for Gould’s Dam, Jasons Deposit
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FY27 Guidance BossEnergy. Aglobal multi-mine Uranium producer FY26Results / Feasibility Presentation 35
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FY27 Guidance 36 Disciplined reinvestment in wellfields and processing capacity to support future growth . A global multi-mine Uranium producerBossEnergy FY26Results / Feasibility Presentation 36 FY2027 guidance Unit A$ US$ Operations Production Mlbs 1.25 – 1.30 C1 cash cost $/lb 51 – 56 35 – 39 All-in sustaining cost $/lb 83 – 92 58 – 64 Capital expenditure Sustaining $M 33 – 37 23 – 26 Process facilities $M 25 – 28 18 – 19 Total capital expenditure $M 58 – 65 41 – 45 • FY2027 is a transition year as Honeymoon moves from legacy wellfield sp acing to the wide-spaced design confirmed by the New Feasibility Study. • Production of 1.25 – 1.30Mlbs is based on 8 wellfields operating by June 2027 across the Honeymoon and East Kalkaroo domains, with EKT1 and EKT2 online in Q2 and Q4 FY2027. • Costs higher vs FY2026 due to lower grades from maturing wellfields; reagents make up over half of C1 cost with higher fixed costs per pound produced. • Sustaining capital is split roughly evenly across drilling, wellfield equipment and first-fill, phased to the timing of water treatment capacity. • Process facilities capital covers Stage One debottlenecking of the Water Treatment Plant and progress on the Stage Two expansion, plus supporting infrastructure. • Disciplined decision to limit further investment in legacy wellfields has constrained near-term production but preserves capital for the value- accretive ramp-up.
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Summary BossEnergy. Aglobal multi-mine Uranium producer FY26Results / Feasibility Presentation 37
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Boss has a culture of collaboration and problem-solving Exceptional team effort delivered a rigorous NFS at pace BossEnergy. A global multi-mine Uranium producer FY26Results / Feasibility Presentation 38 Matt Dusci CEO & MD • 25+ years across technical studies, project development, operations, strategy and leadership • Joined September 2024; appointed Managing Director and CEO October 2025; previously IGO, Gold Fields & WMC Justin Laird CFO • Chartered Accountant; previously Manager Business Projects at Wesfarmers • Began career at EY; senior business development and finance roles Conrad Wilkins GM – Honeymoon • Chartered Engineer and Fellow of the AusIMM • 20+ years process engineering; joined from WGA as Process Technical Lead and Heathgate Resources Matt Williams Wellfields Superintendent • BSc Mineral Geoscience; Grad Dip Groundwater Hydrology, University of Adelaide • Joined Boss Energy in 2021; wellfield planning, optimisation and operations; previously Heathgate Ryan Gore Principal Wellfields Geologist • Honours degree in Geology; joined Boss Energy in 2022 from Heathgate Resources • ISR uranium resource development, geological modelling and contouring Olivier Regnault Head of Technical Services and Planning • PhD in Hydrogeology and Geochemistry; joined September 2025 • 15+ years across Kazakhstan, France, Canada and Africa; previously Orano; ISR technical expert Steve Telford Process Manager • 20+ years in mining and mineral processing; B.Eng (Chemical) • Joined September 2025; previously HeathgateResources and Olympic Dam Alex Baum Projects Superintendent • Masters degree in Engineering; joined April 2025 • Extensive engineering design, construction and project management experience Guillaume Lorilleux Principal Geologist (RSC) • Principal Geologist at RSC, New Zealand; 26+ years international mineral industry experience • PhD (Geology – Uranium); previously Orano Brendan Capi Study Manager (WGA) • Senior Mechanical Engineer, WGA; B.Eng (Mechatronics) • Multidisciplinary engineering packages in early development and feasibility Sara Avory Environment and Radiation Superintendent • Two decades in environmental and radiation management and regulatory reporting; BAppSc (Environmental Science) • Previously Heathgate Resources and Iluka’s Jacinth Ambrosia mine site Some of Our Technical Team on the NFS Some of Our Partners Kittiya Bushaway Hydrogeologist • Masters in Groundwater Hydrology, Flinders University • Groundwater modelling and operational hydrogeology; previously Rio Tinto West Angelas
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BossEnergy. A global multi-mine Uranium producer FY26Results / Feasibility Presentation 39 New Feasibility Study - Closing Summary Honeymoon NFS confirms a robust pathway forward Wider-spaced wellfields creates a lower-cost, capital-efficient life-of-mine plan underpinned by advanced ISR capability and established infrastructure. 13.8 Mlbs planned U₃O₈ production Eight full years operating period to 2034 A$50 / A$79 C1 / AISC per lb Life-of-mine averages to 2034 A$48M additional facilities capital Phased over the next three years 01 STEP-CHANGE IN ECONOMICS • ~A$30/lb lower like-for-like AISC • ~28% higher PLS grade • ~50% less wellfield infrastructure • Cost base enables a lower cut-off grade 02 ADVANCED TECHNICAL FOUNDATION • Data-rich environment with ISR o perating data • Implemented world-class ISR mine planning through RTM • Calibrated to past production • Favourable reservoir characteristics 03 ESTABLISHED OPERATING PLATFORM • >2.3 Mlbs drummed since restart • E xisting plant, trunklines and infrastructure • Operation significantly de-risked • Targeted WTP and Column 6 upgrades 04 OPTIMISATION AND GROWTH • Further wellfield optimis ation upside • Ability to improve on base case NFS through WTP and wellfield conditioning • Wide-spaced wellfield design applicable to Goulds Dam & Jasons Deposit • 45.1 Mlbs regional resource outside NFS Robust plan delieved for Honeymoon Continued production, with further value potential from optimisation and regional growth Advanced ISR capability • Operating experience • Integrated modelling Production target includes 65% Indicated and 35% Inferred Mineral Resources over the nine-year life of mine. Refer to the cautionary statement and material assumptions in the NFS announcement.
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BossEnergy. Aglobal multi-mine Uranium producer FY26Results / Feasibility Presentation 40 Our Priorities Deliver the base case, optimise performance and build the platform for growth 01 DELIVER THE PRODUCTION PLATFORM Safely establish the wide-spaced operating platform Commission new wide-spaced wellfields Safely commission EKT1 and EKT2, demonstrating performance Build the wellfield development pipeline Continue drilling, construction and commissioning new wide-spaced wellfields to support production ramp-up Deliver enabling capital projects Execute both stages of the Water Treatment Plant expansion and complete the associated process and supporting infrastructure 02 OPTIMISE PERFORMANCE Accelerate ramp-up, increase production, and continue to reduce unit costs Optimise wellfield performance Continue to optimise wellfield spacing and performance Water Treatment Accelerate both stages of improvements to the Water Treatment Plant, along with optimisation of assumptions on required water for wellfield conditioning 03 UNLOCKING REGIONAL GROWTH Establish Gould’s Dam and Jasons as low- capital pathways to increased production and an extended mine life Advance Gould’s Dam and Jasons Progress the technical studies, resource definition and approvals required to establish future development pathways. Leverage the wide-spaced ISR design Assess the application of Honeymoon’s wellfield design, modelling and operating approach across deposits with similar characteristics. Utilise existing infrastructure Pursue a potentially low-capital pathway to additional production and longer mine life by leveraging Honeymoon’s processing infrastructure, workforce and ISR expertise. ENABLING FOUNDATION Our People • Our Balance Sheet Strength • Our Technical Excellence • Our Culture • Our Plan Improve availability, throughput and efficiencies Continue to improve availability, throughput and cost structure across the business
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Positioned to Deliver Shareholder Value Key concluding points FY26Results / Feasibility Presentation 41Boss Energy . A global multi-mine Uranium producer Boss combines operating production, financial strength, advanced ISR capability and a portfolio of growth opportunities with increasing exposure to rising global uranium demand. Established uranium producer Operating production from Honeymoon, supported by existing infrastructure, an experienced workforce and a 30% interest in the producing Alta Mesa operation in the United States. Clear pathway at Honeymoon The NFS establishes a robust life-of-mine plan to at least FY34, with a materially improved cost structure and defined priorities for execution. Strong financial platform A debt-free balance sheet, significant cash and liquid assets and growing uranium inventory provide the capacity to fund the production ramp-up and pursue disciplined growth. Multiple opportunities to create value Further optimisation at Honeymoon and the potential development of Gould’s Dam and Jasons provide low-capital pathways to increase production, reduce unit costs and extend mine life by leveraging existing infrastructure, ISR capability and the operating workforce. Leveraged to a strengthening uranium market Existing production, uranium inventory and a strategically under-contracted position provide increasing exposure to rising global uranium demand and future price strength. Boss is producing uranium today, investing in a stronger and longer-life operating platform and building the production capacity required to supply a growing glo bal market.
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Appendices FY26Results / Feasibility Presentation 42BossEnergy. Aglobal multi-mine Uranium producer FY26Results / Feasibility Presentation 42
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Resource Classification Grade Metal Mt ppm U3O8 Kt U3O8 Mlbs U3O8 Gould’s Dam (March 2026) Indicated 7.5 465 3.5 7.7 Inferred 31.2 369 11.5 25.4 TOTAL 38.7 388 15.0 33.1 Table 1: Gould’s Dam Mineral Resource (March 2026)) Table 2: Jasons Deposit Mineral Resource (March 2026) BossEnergy. A global multi-mine Uranium producer FY26Results / Feasibility Presentation 43 Resource Classification Grade Metal Mt ppm U3O8 Kt U3O8 Mlbs U3O8 Jasons (March 2026) Indicated 4.8 464 2.2 4.9 Inferred 8.5 380 3.2 7.1 TOTAL 13.3 410 5.4 12.0 Notes (2025 MRE): • The model is reported unconstrained and above a 250ppm U3O8 lower cut-off grade and 100mD Ksdr permeability (unit millidarcy; mD) lower cutoff for all mineralisation subdomains in consideration of potential for recovery by ISR processing. • T he U3O8 lower cut-off grade reflects the assumed lower detection limit of the PFN tool. • A Ksdr permeability is assumed to be moderate permeable equivalent to a well-sorted sand/gravels which would be amenable for ISR mining. • T here is no historic depletion by production. • Estimation of the combined PFN data and disequilibrium factored gamma data with high-grade cuts is by ordinary kriging using dynamic anisotropy for the mineralised zones. • T he definition of the mineralised zones is refined by conditional indicator kriging (CIK) estimate based on a 250ppm U3O8 indicator and a resultant estimated 17% probability of being above the indicator cut-off gr ade. The subdomains are used as hard boundaries. • D ensity is for the Eyre Formation based on analyses of sonic core as 1.9 t/m3, which is consistent with s emi-consolidated quartz sandstone. • T he model assumes agglomeration of 10mE x 10mN x 1mRL parent blocks for definition of well fields for production in the Gould’s Dam area. The surrounding areas that are still at an early stage of resource def inition with less available data were modelled on larger 40mE x 40mN x 1mRL panels. • T he model does not account for dilution, ore loss, hydrogeology, or recovery issues. Continuity of high- grade U3O8 is expected to be locally erratic throughout the palaeovalley. These parameters should be c onsidered during the mining study as being dependent on the ISR treatment process. • C lassification is according to JORC Code Mineral Resource categories. • Estimated disequilibrium factors applied to the gamma data cannot fully mitigate the risk of assumptions about the tenor of uranium mineralisation based on that gamma data. The gamma data does not directly measure uranium. • A Mineral Resource requires technical and economic evaluation and consideration of modifying factors for conversion to an Ore Reserve. It is possible that not all Mineral Resource will convert to an Ore R eserve. • T otals may vary due to rounded figures. Notes (2025 MRE): • The model is reported unconstrained and above a 250ppm U3O8 lower cut-off grade and 100mD Ksdr permeability (unit millidarcy; mD) lower cutoff for all mineralisation subdomains in consideration of potential for recovery by ISR processing. • T he U3O8 lower cut-off grade reflects the assumed lower detection limit of the PFN tool. • A Ksdr permeability is assumed to be moderate permeable equivalent to a well-sorted sand/gravels which would be amenable for ISR mining. • T here is no historic depletion by production. • Estimation of the combined PFN data and disequilibrium factored gamma data with high-grade cuts is by ordinary kriging using dynamic anisotropy for the mineralised zones. • T he definition of the mineralised zones is refined by conditional indicator kriging (CIK) estimate based on a 250ppm U3O8 indicator and a resultant estimated 17% probability of being above the indicator cut-off gr ade. The subdomains are used as hard boundaries. • D ensity is for the Eyre Formation based on analyses of sonic core as 1.9 t/m3, which is consistent with s emi-consolidated quartz sandstone. • The Jasons model assumes agglomeration of 40mE x 40mN x 1mRL parent blocks for early-stage r esource definition with wide spaced fences, closer spaced drilling along the fences and good proportion of recent, quality data. The model is held on 10mE x 10mN x 1m sub blocks to accommodate a l ithological model generated by Boss. • T he model does not account for dilution, ore loss, hydrogeology, or recovery issues. Continuity of high- grade U3O8 is expected to be locally erratic throughout the palaeovalley. These parameters should be c onsidered during the mining study as being dependent on the ISR treatment process. • C lassification is according to JORC Code Mineral Resource categories. • Estimated disequilibrium factors applied to the gamma data cannot fully mitigate the risk of assumptions about the tenor of uranium mineralisation based on that gamma data. The gamma data does not directly measure uranium. • A Mineral Resource requires technical and economic evaluation and consideration of modifying factors for conversion to an Ore Reserve. It is possible that not all Mineral Resource will convert to an Ore R eserve. • T otals may vary due to rounded figures. Appendix 1 - Gould’s Dam and Jasons Deposit Mineral Resource (March 2026)
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