Page 1

ERA Energy Resources of Australia Ltd Head office Level 3 , Energy House , 18-20 Cavenagh St , Darwin NT 0800 GPO Box 2394 , Darwin NT 0801 , Australia T +61 8 8924 3500 F +61 8 8924 3555 Ranger mine Locked Bag 1 , Jabiru NT 0886 Australia T +61 8 8938 1211 F +61 8 8938 1203 www.energyres.com.au ABN 71 008 550 865 A member of the Rio Tinto Group ASX Announcement 12 October 2021 September 2021 Quarter Operations Review ( unaudited ) • No production of uranium oxide occurred in the September 2021 quarter . Processing operations ceased on 8 January 2021 as required by the Ranger Authority . Energy Resources of Australia ( ERA ) will continue to sell down its stocks of uranium oxide , with expected contract sales of 1.37 million pounds in 2021 , and the balance of inventories progressively sold into the spot market . • ERA's focus is on the progressive rehabilitation activities on the Ranger Project Area . Key rehabilitation activities during the quarter are progressing the Tailings Storage Facility ( TSF ) final floor cleaning , continued water treatment and Pit 3 wicking final design completion . Following the successful granting of land and execution of the Section 19A township lease for Jabiru to the Mirarr Traditional Owners in June 2021 , ERA'S Jabiru housing refurbishment program continues to progress . ERA has commenced a major rehabilitation reforecast for both cost and schedule . While ERA is not yet in a position to provide estimates with an acceptable degree of confidence , it has become apparent that the cost and schedule overruns will be material . Q3 21 vs Q3 20 vs Q2 21 9 mths 21 vs 9 mths 20 Ore milled ( ' 000 tonnes ) -100 % 23 -99 % Mill head grade -100 % 0.07 % ( % uranium oxide ) Mill recovery ( % ) -100 % 86.1 % 2 % Production uranium oxide - tonnes -100 % 34 -97 % - 000 lbs 75