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1September 2026 Quarterly Report PresentationBoss Energy. A global multi-mine Uranium producer A global multi -mine Uranium producer. ASX: BOE OTCQX: BQSSFbossenergy.com 28 October 2026 September 2026 Quarterly Report Presentation
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2September 2026 Quarterly Report PresentationBoss Energy. A global multi-mine Uranium producer Solid start to FY27 as Boss advances the transition and growth Q1 FY27 Highlights Deliver & optimise Honeymoon Build the regional production hub Grow the resource & discovery pipeline Maximise & optimise existing portfolio Honeymoon Production Q1 FY27 Costs Other financial highlights 359 klbs U₃O₈ drummed 337 klbs IX production (0.8%) vs Q4 FY26 (9.2%) vs Q4 FY26 A$47/lb C1 cost A$79/lb AISC A$13M Capital spend A$117/lb (US$81.8/lb) Realised price A$194.9M Cash & liquid assets. No debt • 359 klbs drummed on record flow • NFS delivered early: ~13.8 Mlbs, mine life to at least FY341 • EKT1 flushing underway: early results support the wide-spaced design • Aspiration: 2.5 Mlbs pa at ~A$65/lb AISC by the early 2030s2 • Three deposits, one plant: Honeymoon, Jason's, Gould’s Dam • EPBC referral lodged: Mine Extension decision due Q2 FY27 • Updated Mineral Resource underpins the NFS mine plan • Jason’s: 137-hole, ~15.6 km delineation program from Q2 FY27 • Aircore: up to 80 holes testing greenfield targets near infrastructure • Alta Mesa (30%): 10 klbs (100% basis); Texas permitting delayed new wellfields • Under-contracted: 1.64 Mlbs inventory leveraged to rising prices • No debt: A$195M cash and liquid assets supports the wide-spaced wellfield transition +5.4% vs Q4 FY26 +13.3% vs Q4 FY26 1.641 Mlbs Total inventory FY27 guidance C1 A$51–56/lb AISC A$83–92/lb Total capex A$58–65M 1. Refer to ASX announcement dated 27 August 2026 “Honeymoon New Feasibility Study and MRE Update” 2. Refer to the "Disclaimer and Important Notices" section of this Presentation, in particular the “Aspirational Statements” for further information.
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3September 2026 Quarterly Report PresentationBoss Energy. A global multi-mine Uranium producer Record flow supported production Honeymoon Production Honeymoon quarterly production, U₃O₈ (klbs) Quarterly operating performance • Solid start to FY27, in line with expectations • Record flow offset the expected tenor decline in maturing wellfields • Drummed output supported by a drawdown of in-circuit inventory B6: first full quarter of production • Encouraging result from the last wellfield on the previous design • Low calcium levels and acid consumption observed Q2 FY27 outlook • Steady IX production, with higher flow offsetting declining tenor • Construction progressing at EKT2, EKT3 and HMT1 EKT1: first wide-spaced wellfield • Early flushing performance supports confidence in the NFS design • Final flushing and first leaching results due in the December quarter FY27 production guidance remains 1.25–1.30 Mlbs U₃O₈ 386 456 203 362 359376 406 221 371 337 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Drummed production IX production
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4September 2026 Quarterly Report PresentationBoss Energy. A global multi-mine Uranium producer Early EKT1 flushing supports confidence in the wide-spaced design Honeymoon Wellfield Transition *Wellfield spacing is the injector-to-extractor distance. All wellfields shown above (except for HMT1) are intended to operate with 16 five-spot patterns, transitioning to an injector to extractor spacing of 49 m, with 8 five-spot patterns as outlined in the NFS. Wide-spaced transition under way • Flushing commenced at EKT1, our first wide-spaced wellfield. • Early flushing performance supports confidence in the design. Some transition wellfields have a spacing wider than the NFS • EKT1 and HMT1 will test a spacing that’s wider than assumed in the NFS. • Final flushing and first leach results in Q2 FY27 will test NFS assumptions. Wellfield build-out on track • Construction progressing at EKT2, EKT3 and HMT1. • A rain event caused only a minor delay to EKT1 flushing and construction. Now (Q1 FY27) B6 producing 30 m wellfield spacing* EKT1 flushing 58 m wellfield spacing* Q2 FY27 EKT1 commences leaching 58 m wellfield spacing* Q3 FY27 HMT1 commences leaching 70 m wellfield spacing* 4 five-spot patterns Lowest grade area of the resource Q4 FY27 EKT2 commences leaching 49 m wellfield spacing* Q1 FY28 EKT3 commences leaching 49 m wellfield spacing* Transition to wide-spaced wellfields
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5September 2026 Quarterly Report PresentationBoss Energy. A global multi-mine Uranium producer Water Treatment Plant Upgrades Water treatment upgrades remain on track for the transition Stage 1 targets near-term plant optimisation. Stage 2 adds capacity for the life-of-mine production schedule. Stage 1: completion targeted Q4 FY27 • Specialist review of the existing plant completed • Focus on cleaning, softener settling and hydraulic constraints Stage 2: completion targeted Q3 FY28 • Expansion scoped at approximately 300 m³/h RO feed • Test work will establish design criteria Stage 1 and Stage 2 Delivery remains on track
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6September 2026 Quarterly Report PresentationBoss Energy. A global multi-mine Uranium producer Costs remain on track for FY27 guidance as the transition progresses Cost Performance and FY27 Guidance Full-year costs remain on track • Q1 performance was consistent with expectations. • Costs are expected to rise as average PLS tenor declines. Key metric Unit Q1 FY27 Q4 FY26 FY27 guidance C1 cash cost A$/lb 47 45 51–56 AISC A$/lb 79 70 83–92 Capital expenditure Sustaining A$M 9 7 33–37 Process / project¹ A$M 4 14 25–28 Total capital A$M 13 21 58–65 A$ Q1 AUD/USD: 0.6977. ¹ Q1 process facilities vs Q4 project/support infrastructure. Rain affected sustaining capital timing • Rain temporarily interrupted drilling and wellfield construction. • Spending focused on EKT1 first-fill and new wellfields. Wide-spaced design targets lower costs • The NFS provides a pathway to improve the cost structure. • Focus now is consistent delivery of the wide-spaced design. Process investment weighted to the second half • Water treatment upgrades remain on track to support the planned production ramp-up. Quarterly AISC and realised price (A$/lb) 50 49 93 70 79 115 114 106 107 117 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 AISC Realised price
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7September 2026 Quarterly Report PresentationBoss Energy. A global multi-mine Uranium producer A debt-free balance sheet supports the transition and uranium price upside Sales and Financial Position Exposure to improving uranium prices • Boss remains strategically under-contracted. • Preserves exposure to stronger uranium pricing. Sales and inventory Unit Q1 FY27 Q4 FY26 Sales revenue US$M 24.6 24.4 Sales revenue A$M 35.2 34.8 Realised price US$/lb 81.8 75.1 Realised price A$/lb 117.0 107.1 Sales volume klbs 301 325 Inventory held klbs 1,641 1,581 Cash held A$M 39.2 49.7 *Illustrative inventory value: 1.641 Mlbs at uranium price of US$90/lb at exchange rate of 0.70 AUD/USD. Cash and investments unchanged. Excludes selling costs and tax. Balance sheet supports the transition • A debt-free balance sheet supports organic funding for the wide-spaced wellfield transition. Pricing stronger in Q2 FY27 with legacy contract in H2 FY27 • Boss expects stronger realised pricing in the December quarter. • Legacy contract deliveries of ~250k lbs in second half FY27. Inventory continues to provide strategic benefit • Supports strong financial position and upside to stronger pricing. • Inventory is carried at the lower of cost and net realisable value. Cash and liquid assets: book vs market value (A$M) 39 39 31 31 211 124 Market value* A$281.6M Book value A$194.9M Cash Investments Inventory
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8September 2026 Quarterly Report PresentationBoss Energy. A global multi-mine Uranium producer One plant, three deposits Existing infrastructure provides the foundation for regional growth 1. Refer to the “Aspirational Statements” section in the "Disclaimer and Important Notices" section of this presentation. 2. Refer to Appendix 1 for further details of Mineral Resource classification for Gould’s Dam, Jason's Deposit and Honeymoon 33.1Mlbs Gould's Dam Central facility site plan; resin loaded on site Resin trucked ~75 km 20.8Mlbs Honeymoon hub Plant, utilities and workforce in place 13 km twin trunkline 12.0Mlbs Jason's Deposit Tanks, pumps and power only Mineral resource by deposit² Deposit Ore (Mt) Grade (ppm) Mlbs U₃O₈ Gould's Dam 38.7 388 33.1 Jason's Deposit 13.3 410 12.0 Honeymoon 21.4 440 20.8 Total 73.3 410 65.9 2.5Mlbs pa Hub rate aspiration by the early 2030s, on installed back-end capacity¹ A$65/lb AISC aspiration at hub scale, ~A$12/lb below the NFS¹
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9September 2026 Quarterly Report PresentationBoss Energy. A global multi-mine Uranium producer Hub development programme Approvals and drilling progress across the regional hub Project Progress and next steps Honeymoon Mine Extension • EPBC referral submitted. Decision expected Q2 FY27. • Mining Lease Application progressing, incorporating referral requirements. Jason's Deposit • Referral-stage technical work complete. • Environmental studies near completion. EPBC documents well advanced. • 15 diamond core holes to assess hydrogeology, mineralogy and mineralization. • 137 mud rotary holes from Q2 FY27 to improve resource confidence and test extensions. • Both drilling programmes: completion planned Q3 FY27. Gould’s Dam • Studies underway assessing preferred processing configuration via Honeymoon plant. Regional hub and catchment • Honeymoon NFS work supports satellite evaluation. • Up to 80 aircore holes in Q2–Q3 FY27 targeting proximate greenfield prospects. • Studies, field validation and approvals underway. Next decision point: HME referral outcome expected in Q2 FY27
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10September 2026 Quarterly Report PresentationBoss Energy. A global multi-mine Uranium producer Permitting delays constrained production and paused operations Alta Mesa JV: Boss 30% 206 143 97 45 10 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Drummed production Alta Mesa quarterly production (100%), U₃O₈ (klbs) Quarterly operating performance • 10 klbs drummed in Q1 FY27 compared with 45 klbs in Q4 FY26, on a 100% basis. Boss product receipts • Boss received no product during Q1 FY27, compared with 13 klbs in the previous quarter. Permitting and operations • State permitting delays prevented timely replacement of declining wellfields. Plant production has stopped pending new wellfields. Wellfield outlook • PAA3 expected in Q2 FY27 and PAA8 in Q3 FY27, subject to permitting.Production paused pending new wellfields
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11September 2026 Quarterly Report PresentationBoss Energy. A global multi-mine Uranium producer Boss Energy. A global multi-mine Uranium producer Focussed on consistent delivery to expectations FY27 Outlook Debt-free funding Uranium price upside Lower-cost growthGuidance unchanged Proving the design A$194.9M in cash, liquid assets and inventory supports the transition Under-contracted position retains exposure to stronger prices Regional hub strategy uses existing infrastructure to extend mine life 1.25–1.30 Mlbs C1 A$51–56/lb AISC A$83–92/lb First EKT1 leaching results expected in Q2
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12September 2026 Quarterly Report PresentationBoss Energy. A global multi-mine Uranium producer Appendix 1 -Gould’s Dam and Jason's Deposit Mineral Resource (March 2026) Resource Classification Grade Metal Mt ppm U3O8 Kt U3O8 Mlbs U3O8 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 (reported 19 March 2026) Table 2: Jason's Deposit Mineral Resource (reported 19 March 2026) Resource Classification Grade Metal Mt ppm U3O8 Kt U3O8 Mlbs U3O8 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: • Effective 31 December 2025 • 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. • The 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. • There 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. • The 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 grade. The subdomains are used as hard boundaries. • Density is for the Eyre Formation based on analyses of sonic core as 1.9 t/m3, which is consistent with semi-consolidated quartz sandstone. • The 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 definition with less available data were modelled on larger 40mE x 40mN x 1mRL panels. • The 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 considered during the mining study as being dependent on the ISR treatment process. • Classification 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 Reserve. • Totals may vary due to rounded figures. Notes: • Effective 31 December 2025 • 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. • The 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. • There 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. • The 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 grade. The subdomains are used as hard boundaries. • Density is for the Eyre Formation based on analyses of sonic core as 1.9 t/m3, which is consistent with semi-consolidated quartz sandstone. • The Jason's Deposit model assumes agglomeration of 40mE x 40mN x 1mRL parent blocks for early-stage resource 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 lithological model generated by Boss. • The 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 considered during the mining study as being dependent on the ISR treatment process. • Classification 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 Reserve. • Totals may vary due to rounded figures.
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13September 2026 Quarterly Report PresentationBoss Energy. A global multi-mine Uranium producer Resource Classification Grade Metal Mt ppm U3O8 Kt U3O8 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 Table 3: Honeymoon Mineral Resource (reported 27 August 2026) 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 Mlbs U3O8 (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. Honeymoon Project Mineral Resource Estimate — effective date 30 June 2026, reported net of ISR depletion of 3.3 Mlbs U3O8 to 30 June 2026. Appendix 1 - Honeymoon Mineral Resource
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14September 2026 Quarterly Report PresentationBoss Energy. A global multi-mine Uranium producer Disclaimer and Important Notices This investor presentation (“Presentation”) has been prepared by Boss Energy Limited (ACN 116 834 336) (“Boss Energy”, “Boss” 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 Investments Commission. This Presentation does not constitute investment advice and has been prepared by Boss Energy without taking into accountthe 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 on any 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 s lodged with the Australian Securities Exchange, which are available to download at www.asx.com.au. 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, unduereliance 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 bebeyond 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. 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 (express orimplied) 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 be of 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.
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15September 2026 Quarterly Report PresentationBoss Energy. A global multi-mine Uranium producer Disclaimer and Important Notices CURRENCY AND EFFECT OF ROUNDING All dollar (“$”) amounts are in Australian dollars unless otherwise stated. All cost forecasts are in real 2026 terms. 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 New Feasibility Study and MRE Update”. The information in this Presentation that relates to the Mineral Resource estimate for Gould’s Dam and the Jason's Deposit was reported in an announcement by the Company dated 19 March 2026 titled “Gould’s Dam and Jason's 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 the original market s referred to above and that all material assumptions and technical parameters underpinning the Honeymoon Deposit, Gould’s Dam and Jason's Deposit Mineral Resource estimates in the original market s 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 New Feasibility Study and MRE Update.” The Company confirms that all the material assumptions underpinning the production target and forecast financial information derived from the production target in that 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 as the Inferred Mineral Resources are not the determining factor in project viability (noting, most significantly that Honeymoon is already in production). Refer to Section 12 of the New Feasibility Study (attached to the Company’s dated 27 August 2026 titled “Honeymoon New Feasibility Study and MRE Update.”) for the material assumptions underpinning the production target and forecast financial information. ASPIRATIONAL STATEMENTS The statements which appear throughout this regarding the aspiration for the Honeymoon Processing Hub to produce 2.5M lbsU₃O₈ at an AISC of A$65/lb (US$45/lb) by the early 2030s are aspirational statements and not a Production Target. The Company does not yet have reasonable grounds to believe these statements can be achieved. In particular, the statements are aspirational because: 1. whilst the Company has undertaken various internal studies on the Gould's Dam deposit and Jason's Deposit, the Company has not yet completed a Scoping Study or a Feasibility Study or published a Production Target for Gould’s Dam or Jason's Deposit. Substantial further work is required before such a Scoping Study, Feasibility Study or Production Target could be completed or published; and 2. the aspiration is dependent on integrating the Gould’s Dam and Jason's Deposit with the existing Honeymoon Mine operations. This remains subject to a number of variables, including: further drilling and resource definition; hydrogeological, metallurgical and wellfield performance; success of the wide-spaced wellfield design which is still currently being tested at Honeymoon; ISR recovery assumptions; selection and implementation of transport and processing methods, including the proposed Jason's Deposit trunkline and Gould’s Dam resin or eluate trucking options; Honeymoon plant and infrastructure capacity and upgrades; and obtainment of applicable regulatory and environmental approvals. Accordingly, there is no certainty that the aspiration will be achieved.