Good afternoon. My name is Judy, I will be your conference operator today. At this time, I would like to welcome everyone to the NexGen Energy Limited annual general meeting of shareholders. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question- and- answer session. If you would like to ask a question during this time, simply press star one on your telephone keypad. If you would like to withdraw your question, please press star two. Thank you. Mr. McFadden, you may begin your conference. Thank you very much. The meeting will now come to order. Good afternoon. My name is Christopher McFadden. I am a Director and Chairman of the Board of NexGen Energy. I'm pleased to welcome you to the annual general and special meeting of shareholders of NexGen Energy. I will act as Chair of this meeting, I shall ask Ryan Podrasky, CFO of NexGen Energy, to act as the Secretary of this meeting. With the consent of this meeting, I appoint Mita Garcia of Computershare Investor Services as scrutineer of this meeting. The Secretary has tabled for inspection by any shareholder or proxyholder a declaration that the notice calling this annual general and special meeting was mailed to shareholders in accordance with applicable law. I will dispense with calling for a reading of the notice of meeting and direct that a copy of the declaration be kept by the secretary with the records of the meeting. The scrutineer has submitted a report on attendance to the secretary. The secretary will now read the scrutineer's report. Thanks, Chris. The scrutineer's report reads as follows. There's 148 shareholders present in person or by proxy representing approximately 459 million shares. The total issued and outstanding shares as of the record date is 661 million, 909,000, 421. The percentage of outstanding shares represented at the meeting is 69.34%. Thank you. I adopt the scrutineer's report and declare subject to the special rights and restrictions attached to the shares of any class or series of shares. The quorum for the transaction of business at a meeting of shareholders is two persons who are or represent by proxy shareholders holding in aggregate at least 5% of the issued shares entitled to be voted at the meeting. Proper notice having been given and a quorum present, I declare this meeting to be properly constituted for the transaction of business. As a matter of procedure, I ask that shareholders present in person and wishing to speak at the meeting, please identify themselves by name and indicate that they are a registered shareholder. Or if a proxyholder, identify themselves and the name of the registered shareholder they represent by proxy. The last annual general and special meeting of NexGen Energy Limited. was held on June 17, 2025. The secretary has the minutes of the last meeting of shareholders of the corporation, which can be made available upon request and confirmed that the minutes taken be verified as correct. I will dispense with the reading of the minutes of such meeting. Voting today will be by a show of hands unless either a ballot is requested or more than 5% of the votes eligible to be cast by proxies are voted against the resolution. Voting for the election of directors will proceed by way of ballot. The corporation's articles under Section 11.15 provide that as chairman, I may propose a motion and that no motions need to be seconded. In the interest of expediting the business of the meeting, I will proceed on that basis. The financial statements of the corporation for the year ended December 31, 2025, and the report of the auditors were delivered to the shareholders prior to this meeting and are available on SEDAR+ and EDGAR, and I hereby place them before the meeting. Now, in order to determine the number of seats on the board of directors, I ask the secretary to read the proposed motion. Be it resolved that the number of seats on the board of directors of the corporation be set at nine. Is there any discussion on this motion? All those in favor of this motion, please signify by raising your right hand. Against? I declare this motion duly carried. We will proceed with the election of directors. The number of directors for the corporation has been set as nine, and it is anticipated that nine directors will be elected. In accordance with the corporation's advance notice policy contained in Section 26.1 of the corporation's articles, June 1, 2026, was the deadline for nominations for directors for this meeting. No nominations have been received by the corporation prior to the deadline other than those submitted by management. Accordingly, no further nominations for directors for the ensuing year will be accepted. I now ask the secretary to read the names of the persons nominated by management. The names of the persons nominated for directors for the ensuing year are Mr. Leigh Curyer, Mr. Christopher McFadden, Mr. Richard Patricio, Ms. Sharon Birkett, Mr. Warren Gilman, Ms. Sybil Veenman, Ms. Karri Howlett, Mr. Brad Wall, and Mr. Ivan Mullany. I declare the nominations closed and call for a motion to elect the directors. I now ask the secretary to read the proposed motion The management information circular contains a list and biographical profile of the nine nominees recommended for election to serve as the directors of the corporation to hold office until the next annual general meeting or until their successors are duly elected or appointed in accordance with the articles and bylaws of the corporation. Shareholders are entitled to vote in favor of or withhold from voting separately for each director nominee. As it is necessary to ensure that the number of shares voted in favor of or withheld from voting for each individual director is recorded, I direct that a poll be taken. The scrutineer distributed ballots at the beginning of the meeting. If you are a registered shareholder or a proxy holder and you do not have a ballot, would you please raise your hand? Please mark an X in the appropriate spaces on the ballots before returning them to the scrutineer. With respect to the motion to elect the director nominees, I am advised that a majority of the votes have been cast in favor of the election of each of the directors nominated. As a result, I declare that Leigh Curyer, Christopher McFadden, Richard Patricio, Sharon Birkett, Warren Gilman, Sybil Veenman, Karri Howlett, Brad Wall, and Ivan Mullany be elected as directors of the corporation to hold office until the close of business of the next annual meeting of shareholders of the corporation, or until their successors are elected or appointed. A copy of the final scrutineer's report on this motion will be kept by the secretary, along with the recorded minutes of this meeting. We will now proceed with the appointment of auditors. I now ask the Secretary to read the proposed motion. Be it resolved that PricewaterhouseCoopers be appointed as the auditors of the corporation at a fee to be fixed by the directors to hold office until the next annual general meeting of the corporation. Is there any discussion on this motion? All those in favor, please signify by raising your right hand. Against? I declare this motion duly carried. The last item of business is related to the continuation of the shareholder rights plan. I now ask the Secretary to read the proposed motion. Be it resolved that the continuation amendment and the restatement of the corporation shareholder rights plan, with the full text of the resolution being set forth on page 60 of the management information circular. The board believes that the rights plan is in the best interests of the corporation and its shareholders. The rights plan is intended to ensure that all shareholders are treated fairly in connection with any takeover bid and to provide the board with sufficient time to evaluate and respond to any proposal that may arise. The rights plan is not being proposed in response to, or in anticipation of, any specific transaction, and is not intended to prevent a takeover of the corporation. Rather, it is designed to protect shareholder interests by promoting the fair treatment of all shareholders. All those in favor, please signify by raising your right hand. Against? Accordingly, I declare that the resolution is carried that the corporation shareholder rights plan be amended and restated and be continued for a further term of three years. A copy of the resolution and the final scrutineer's report on this motion will be kept by the secretary, along with the recorded minutes of this meeting. I now propose a motion concluding the formal portion of the meeting. Is there any discussion on this motion? All those in favor of this motion, please signify by raising your right hand. Against? I declare this resolution duly carried and the formal meeting is to be concluded. I'd now like to open the meeting to questions from shareholders. Please identify yourself by name, and if you are a proxy holder, please indicate the shareholder you represent. I'm [Susan Pierce], and I'm a shareholder. I'm just curious as to what the benefits are to NexGen to have sponsors. This is Travis McPherson speaking, Chief Commercial Officer. They're really designed to support us in getting our approval ultimately. Some people have said post getting our approval, "How do you have such vote?" In the second part of the hearing, I don't know if you had a chance to watch it, but it was public, you got to see the very longstanding support that we have from all of the indigenous nations in the local area. It's unprecedented, the support that we've had from them and the trust that we've built. That's not done with just words, that's done with action. If we use the Vancouver Canucks as an example, we take 20 kids every year. They come down to Vancouver. They get mentored by the whole organization. It's not really about hockey, it's about mentorship. Showing them food and beverage service, showing them hockey operations, showing them marketing, all done in this two-day thing. That might seem like an innocuous, simple thing, for a lot of those kids, they've never even left northern Saskatchewan before. That's just one example. The Vancouver Canucks go up into La Loche, into the community and run these various programs up there with a lot of Vancouver Canucks alum. It just, you see the inspiration it creates, and it creates something that actually transcends just those two days or three days a year where the kids that got to go on it, and they're chosen based on not just academic performance, but leadership qualities that they show in their communities and how involved they are in being young leaders in the community. Those kids come back, explain what an amazing event it was and everything, and the experience. You get all these other kids wanting to get on the trip next year. It creates this flywheel effect really that happens. That's pretty much why we do a lot of those things. The Saskatchewan Roughriders is the same. Thanks. Yes. Yes. My name is [Bob T.C.] I'm a retail shareholder. I'm just curious to know what activities are happening on site now and when a construction schedule will be presented. Yep. It's under construction as we speak now. Such as? Well, the camp just got commissioned. We've got about 800 beds up there now. Road upgrade, the airstrip will be completed in the next couple of weeks. Then it's a lot of civil and earthworks. Really everything preparing for the shafts to be sunk, to commit sinking. In terms of more details around the plan and schedule and all of that, we have obviously disclosed that. We're going to, in the next few weeks, put out an investor webinar, which will go through it in a lot more detail, what we're doing, how it's going to be done, who's going to be doing what, and you'll be able to meet a lot of the team because we've built the best team in the business. Not everyone gets to see them all the time. We get to see them all the time, but not everyone gets to see them because they're busy doing what they need to be doing. Yes. The construction period is set at approximately 48 months. Four years, yeah. When does day one start? Now. Has it started? Now. Yeah. It's started. Exactly. Okay. One final question. Okay Regarding the construction. Yep. When do you start the temporary freezing of the two shafts? I'd say about 12 months from now. I know you have the equipment. We have the equipment, yep. When do they start the actual process? Yeah. Basically, we have to start excavating all of the area near the shafts, building the area where the temporary freeze plant will go, hooking it all up and then commencing the freezing. There's a bit of work that needs to be done to do all of that. You're exactly right. It's true for all of our procurement where we haven't waited to get permitted to basically say, "Okay, now we'll start buying equipment and signing contracts and everything," because we were confident we were going to get approved. We just didn't know exactly when, obviously, but we knew we were going to get approved. The freeze plant is a classic example that we got way ahead of that. That's obviously a critical path piece of equipment. We have to have that to start the shaft-sinking process. We just took that off the critical path by buying it a lot earlier than we otherwise would have. Depth? We freeze down to about 200 m. It's about 100 m of overburden that we need to get through, you get into the basement rock, you key into that. Okay. Yeah. Just one more. Yes. [John Graubak]. The processing plant, who's leasing first? Are you guys going to put up your own processing plant, or is it going to be transported elsewhere? Is it going to be you and Fission that do it, or Paladin and whoever else? Our plan is to build our own processing facility on-site. Yeah, to be determined whether there's toll milling agreements in the future or whatever. We're designing and building our own processing plant for the Arrow deposit and potentially PC in the future who knows. Thank you. Yes. Any more questions? Nope. I don't want to hog the table. No, you're fine. Richard, what progress are you making on financing? Short answer, a lot of good progress. We've got CAD 1 billion in the balance sheet. We did that raise in October of last year. Part of it was to enable us to run a lot of these processes for the balance of funding through with the right level of patience and be able to do it the right way. There's a number of avenues, some of which are just where you're more of a price taker. If you go in the market and you raise money, you optimize for the conditions that are in the market at the time, but there's only so much you can do. Those can be actioned pretty quickly. A lot of the ones that we're working on are more strategic in nature, where you're negotiating bilateral agreements with a counterparty that, in a lot of cases, you need to have a lot of confidence on, and you need to do your own due diligence. Are they going to be a good partner? Are they going to deliver what they say they're going to do? Do they understand what the big picture is here and all that sort of stuff. That's the kind of avenue that we're in now. Over the next 12 months, we will finalize the balance of funding because we have about 18 months' worth of all of the construction spending on the balance sheet today. We should hang on to our stock. I am. Since the approval on March the 5th, there's really been nothing relating to Arrow, which I think the market is waiting for. Well, that's what this investor webinar will do. It's all on Arrow. It's all on the detailed plan around exactly. When is the webinar? It's going to be in the next couple of weeks. We're just making some final tweaks to a lot of the animations and everything. Yeah, it'll be over the next couple of weeks, there'll be an announcement on when the date will be soon. Okay.