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PEL.NET.AU | 29 September 2026 ASX: PEN OTCQB: PENMF A US uranium platform with near-term operating leverage and district scale upside Mining Forum Americas | Colorado Springs George Bauk, Managing Director 1
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Important Disclosures and Disclaimers Summary This Presentation contains summary information about the current activities of Peninsula Energy Limited (the “Company”) as at the date of this Presentation. The information in this Presentation is of a general nature and does not purport to be complete. This Presentation does not purport to contain all the information that an investor should consider when making an investment decision nor does it contain all the information which would be required in a disclosure document or prospectus prepared in accordance with the requirements of the Corporations Act 2001 (Cth). It should be read in conjunction with the Company's other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at https://www.asx.com.au/. To the extent permitted by law, the Company, its representatives, affiliates, related bodies corporate, officers, employees, agents and advisers make no representation or warranty (express or implied) as to the currency, accuracy, reliability, relevance or completeness of the material contained in the Presentation and disclaim all responsibility and liability for the information (including, without limitation, liability for negligence). This Presentation is not intended to form the basis of any investment decision by a prospective investor, but simply to provide an overview to allow prospective investors to decide whether to carry out their own independent investigations and seek their own advice before making a decision whether to invest in the Company. In making an investment decision, investors must rely on their own examination of the Company including the merits and risks involved and should consult with their professional advisers – whether scientific, business, financial, tax or legal. Past performance information given in this Presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance. This Presentation is for information purposes only and is not a prospectus, disclosure document, product disclosure document, product disclosure statement or other offering document under Australian law or any law (and will not be lodged with the Australian Securities and Investments Commission). This Presentation is not and should not be considered an offer to sell or solicitation of an offer to buy securities of the Company, and the securities of the Company may not be offered or sold in any jurisdiction in which their offer or sale would be unlawful. Forward Looking Statements The Presentation contains “forward-looking statements provided by or on behalf of the Company with respect to potential future matters. All statements other than those of historical facts included in the Presentation are forward-looking statements. Forward-looking statements may include, but are not limited to, statements regarding the Company’s ability to fund its operations, exploration and production targets, estimates of resources, timing of wellfield development, completion of central processing plant and associated infrastructure commissioning activities, timing of permit and license amendments, timing of uranium production, and rates of uranium extraction and recovery. Forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, uranium price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. The Company does not undertake any obligation to release publicly any revisions to any “forward-looking statement” to reflect events or circumstances after the date of the Presentation, or to reflect the occurrence of unanticipated events, except as may be required under applicable laws or regulations (including the ASX Listing Rules). All persons should consider seeking appropriate professional advice in reviewing the Presentation and all other information with respect to the Company and evaluating the business, financial performance and operations of the Company. Neither the provision of the Presentation nor any information contained in the Presentation or subsequently communicated to any person in connection with the Presentation is, or should be taken as, constituting the giving of investment advice to any person. The Company believes it has a reasonable basis for providing the forward-looking statements and production targets included in this Presentation. JORC Compliance Statements It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Reserves Committee’s Australasian Code for Reporting of Mineral Resources and Ore Reserves (“JORC Code”). Investors outside Australia should note that while ore reserve and mineral resource estimates of the Company in this document comply with the JORC Code (such JORC Code-compliant ore reserves and mineral resources being "Ore Reserves" and "Mineral Resources" respectively), they may not comply with the relevant guidelines in other countries and, in particular, do not comply with (i) National Instrument 43-101 (Standards of Disclosure for Mineral Projects) of the Canadian Securities Administrators (the "Canadian NI 43-101 Standards"); or (ii) Item 1300 of Regulation S-K, which governs disclosures of mineral reserves in registration statements filed with the United States Securities and Exchange Commission. Information contained in this document describing mineral deposits may not be comparable to similar information made public by companies subject to the reporting and disclosure requirements of Canadian or US securities laws. You should not assume that quantities reported as “resources” will be converted to reserves under the JORC Code or any other reporting regime or that Company will be able to legally and economically extract them. This Presentation contains references to Mineral Resource estimates and exploration targets that have been extracted from the Company’s previous announcements. This Presentation also contains references to a production target which is based upon certain assumptions which have been extracted from previous Company ASX announcements as indicated below. The Company confirms that it is not aware of any new information or data that materially affects the information included in those ASX announcements, and in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant ASX announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcements. Mineral Resources The detailed assumptions regarding the Company’s JORC compliant Mineral Resource estimates are disclosed in the Company’s ASX announcements released on 25 September 2026 and 23 October 2023. Exploration Target Information regarding the Company’s exploration target is disclosed in the Appendix 2 of the Company’s Presentation released to the ASX on 9 October 2023. The exploration target does not include areas of the existing Mineral Resource and the potential quantity and grade reported are conceptual only in nature. Insufficient exploration has been conducted to estimate a Mineral Resource and it is uncertain whether future exploration will lead to the estimation of a Mineral Resource in the defined areas. 2
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Important Disclosures and Disclaimers Production Target The production guidance is based on the material assumptions set out in the Company’s ASX announcements relating to previous production targets, released 22 August 2025, 13 May 2024 and 31 August 2023. Peninsula confirms that it is not aware of any new information or data that materially affects the information included in this announcement and that all material assumptions and technical parameters underpinning the production target continue to apply and have not materially changed. Whilst the Company considers that all material assumptions underpinning the projected production and cash flows in this Presentation are based on reasonable grounds, there is no certainty that they will prove to be correct or that the outcomes indicated will be achieved. There is a low level of geological confidence associated with Inferred mineral resources and there is no certainty that further exploration and delineation work will result in the determination of Indicated mineral resources or that the production target itself will be realized. Financial information contained in this announcement is preliminary in nature and is in-part based on low- level technical and economic assessments and is insufficient to support the estimation of reserves or to provide assurance of economic development. In accordance with the relevant regulations governing the disclosure of mineral projects, readers are cautioned that mineable resources based on Inferred Resource material are considered too speculative geologically to enable them to be classified as reserves. Given the uncertainties involved, investors should not make any investment decision based solely on this Presentation. Disclaimers The totals in tables may not add due to rounding. The distribution of this Presentation in jurisdictions outside Australia may be restricted by law and any such restrictions should be observed. In particular, this Presentation may not be distributed or released in the United States. Any failure to comply with such restrictions may constitute a violation of applicable securities laws. This Presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States of America or in any other jurisdiction in which such an offer would be illegal. The offer and sale of the entitlements and New Shares referred to in this Presentation have not been, and will not be, registered under the U.S. Securities Act of 1933 (“Securities Act”) and the entitlements may not be taken up by, and the New Shares may not be offered or sold to, any person in the United States of America unless the securities have been registered under the Securities Act (which Peninsula has no obligation to do or procure) or are taken up, offered or sold in a transaction exempt from, or not subject to, the registration requirements of the Securities Act and any other applicable securities laws. Third party information This Presentation contains data and information sourced from independent third parties and government sources, and the Company makes no representation, whether express or implied, as to the accuracy of such data or information. Competent Person Statement The information in this Presentation that specifically relates to Exploration Targets, Exploration Results, Exploration Potential, Mineral Resources or Ore Reserves at the Lance Projects is based on information compiled by Mr Christopher McDowell. Mr McDowell is a Registered Member of the Society for Mining, Metallurgy & Exploration (Member No. 4311521). Mr McDowell is a Professional Geologist in the State of Wyoming and is employed by independent consultant Western Water Consultants, Inc. d/b/a WWC Engineering. Mr McDowell has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr McDowell consents to the inclusion in the Presentation of the matters based on his information in the form and context in which it appears. This Presentation was approved by the Board of Peninsula Energy Limited 3
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Investment Highlights A constructed US uranium platform moving from commissioning complexity toward repeatable wellfield performance 59Mlbs Lance JORC 2012 Mineral Resource 2.0Mlbs p.a. Installed CPP nameplate capacity 0.6Mlbs in Contracts Strengthened technical expertise through recent CTO appointment, Technical Committee and consultants A growing list of initiatives to improve cost profile including First Owner-Operator Drill Rig 4 1 - Please refer to ASX announcement 25 September 2026: “Mineral Resource Increases to 59.0Mlbs U 3O8 at the Lance Project”. Significant Exploration Upside Spot Price Climbing Stronger Long-Term Pricing Growing Demand (USA) 4
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5 Corporate Overview1 Market Cap2 US$104M (A$149M) Cash3 US$22.1M At 30 June, excluding US$30m drawdown in July Share Price2 US$0.18 (A$0.26) Debt4 US$30.0M Note (1) Corporate information as at 28 September 2026 Note (2) Exchange Rate AUD:USD 0.70 Note (3) Cash at 30 June 2026 – prior to drawdown of US$30m Soul Patts convertible note in July 2026 Note (4) Debt at 28 September 2026 Note (5) 12.07m warrants only exercisable if PEN enters administration Security code & description Securities on Issue PEN: Ordinary Shares 571,527,409 PENAAC: Options (Expiring 01-Oct-2028 / Ex $0.45) 4,043,467 PENAAD: Options (Expiring 01-Oct-2028 / Ex $0.60) 4,043,467 PENAAF: Warrants5 (Expiring 30-Sep-2030 / Ex $0.43) 24,148,664 PENAV: Options (Expiring 26-Nov-2027 / Ex $6.00) 205,000 PENAZ: Service Rights 2,715,608 PENAB: Performance Rights 11,840,037 PENAAE: Convertible Notes Convertible into ordinary shares of US$30M at A$0.35 per share 0.0 M 5.0 M 10.0 M 15.0 M 20.0 M 25.0 M 30.0 M 35.0 M $0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Volume (million) Share Price (A$) Volume Share Price
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6 Refreshed Board and Executive Leadership Mr George Bauk Managing Director / CEO Mr Bauk has over 30 years of global experience in uranium, rare earths, gold, lithium, and graphite. He has led companies and major projects from exploration to production, raising over A$920m in his career. Mr David Coyne Non-Executive Chairman Mr Coyne has over 30 years of global experience in mining, oil & gas, and construction. A CPA, he has held senior roles in listed and private companies, including former Finance Director with Spartan Resources. Mr Keith Bowes Non-Executive Director Mr Bowes, BSc (Chemical Engineering) and AICD graduate. 30 years’ experience in metallurgy, mining, project development and governance, including global roles with Anglo American and BHP. He was most recently MD of Lotus Resources, leading the Kayelekera development. Ms Tejal Magan Non-Executive Director Ms Magan, a Chartered Accountant with 15+ years’ experience in capital markets, M&A, governance, and compliance, was until recently CFO and Joint Company Secretary of Spartan. She played a key role in Spartan’s successful $2.4B merger with Ramelius. Mr Brian Booth Non-Executive Director Mr Booth is an experienced mining executive, who brings over 35 years of experience across the mineral exploration and mining sectors with major and junior mining companies. Mr Jitu Bhudia Chief Financial Officer Mr Bhudia is a Chartered Accountant and a seasoned CFO with over 25 years of experience in ASX-listed companies, bringing extensive expertise in capital management, debt and equity financing and corporate governance. Mr Willie Bezuidenhout VP Corporate Development Mr Bezuidenhout is an accomplished Chartered Accountant with a strong strategic focus having previously held the position of Interim CFO at Peninsula Energy. Mr Jonathan Whyte Company Secretary Mr Whyte is a Chartered Accountant and has extensive corporate, company secretarial and financial accounting experience across a number of listed and unlisted resource sector companies.
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Site Leadership Team – Deep In-Country ISR Experience 7 Mr Ralph Knode CEO – Strata Energy Inc Mr Knode has over 40 years of experience in uranium exploration, evaluation, construction, and operations across North America, Kazakhstan, and Australia. Mr Knode held senior roles at Uranium One and Cameco subsidiaries and has been directly involved in launching or operating five In Situ Recovery projects on three continents. Mr Brian Pile Interim SVP Operations and Development Mr Pile has over 25 years of professional experience, having worked directly on ISR projects in US states Nebraska and Wyoming, and in Kazakhstan (JV Inkai). As a consultant prior to joining Strata/Peninsula, Mr Pile worked on mining, water treatment, and environmental projects throughout western US. Mr Pile has worked directly on constructing and commissioning five major ISR projects. Mr Ken Milmine VP OH&S, Approvals Mr Milmine has almost 30 years of regulatory, environmental, health and safety experience in the mining industry including gold, molybdenum, coal, and uranium extraction in Idaho and Wyoming. Mr Milmine has managed uranium specific health, safety, and environmental regulatory programmes through his previous experience with Cameco, Energy Metals, and Uranium One. Mr Milmine joined Strata in August of 2021. Mr Jeramy Spicer Production Manager Mr Spicer has over 30 years of production and management experience in multiple chemical industries including sodium percarbonate, lactic acid, and soda ash. Mr Spicer’s experience also includes production planning, optimisation along with budget development and tracking. Mr Gary Birch Chief Technical Officer Mr Birch is a highly experienced low-pH ISR uranium executive with more than 20 years of operational experience at Heathgate’s Beverley and Four Mile mines. He brings deep expertise in wellfield performance, engineering, maintenance and operational leadership to support Lance’s production growth. Mr Jesse Self Geology Manager Mr Self has over 13 years of uranium-specific geology experience in Wyoming, having worked as a geologist for both Ur-Energy Inc. and Strata. Mr Self’s ISR- specific experience includes geology management services from development and delineation drilling to wellfield design and construction, drilling supervisor, wellfield operations, geophysical logging, and reclamation.
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8 Wyoming, USA Lance Project Central Processing Plant, constructed for 2Mlbs U3O8 p.a. and fully licensed for production up to 3Mlbs U3O8 p.a. The Top Uranium Jurisdiction in the USA LANCE IS STRATEGICALLY POSITIONED TO BECOME A CORNERSTONE URANIUM PRODUCER TO CLOSE THE URANIUM SUPPLY GAP NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES
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Production Status 9
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HH-14 & HH-16 were the first HHs in MU-4 to start-up HH-15 & HH-17 are in start-up phase now (HH-15 – production commenced, HH-17 – acidification commenced) HH-18 & HH-19 are in construction phase 8 Description DAF (Dissolved Air Flotation) Injection Filtration Co-Mingling Peroxide Addition During Soft Acidification3 Calcite Dissolution Control Measures HH-14 No Yes1 Yes2 Acidification No No HH-15 Yes Yes No Production No No HH-16 No Yes1 Yes2 Acidification No No HH-17 Yes Yes No Production Yes No HH-18 Yes Yes No Production Yes Yes4 HH-19 Yes Yes No Production Yes Yes4 1 were installed, but did not function correctly 2 HH-14 & HH-16 lixiviants were mixed (co-mingled) at different stages of acidification (i.e. pH levels) resulting in precipitation and flow issues 3 starting with low acid tenor and building up for calcite dissolution control measures 4 the option to remove calcium via soda ash precipitation as part of the DAF process is being considered WELLFIELD OPERATIONS Header House Operating Condition Summary 10
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Off-take Position 11 Highly leveraged to spot uranium prices with minimal contracted pounds One contract in place for 600,000lbs1 • 100,000lbs per annum 2028 – 2033 (post ramp-up) • Blend of base price (escalated) plus market price • Take or pay commitments remain in place Note (1) The figure of 600,000lbs represents a contractual offtake obligation under an existing agreement and is not a production targ et, forecast, or guidance. It does not represent a statement as to future production and should not be construed as such. Actual production may differ materially from the contracted quantity.
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Future Growth 12
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Largest known ISR project in Wyoming, USA – 59Mlbs Exploration Target of 104 – 163 Mlbs U3O8 based on a combination of past exploration results and proposed exploration programmes2 Lance – Already Very Large, But Still Lots of Potential to Grow 13 Permit Area Tonnage (Mt) Grade (ppm U3O8) U3O8 million lbs Ross Measured 1.9 520 2.2 Indicated 3.7 450 3.7 Inferred 1.7 400 1.5 Total 7.3 460 7.4 Kendrick Measured 1.2 540 1.4 Indicated 5.4 580 6.9 Inferred 10.2 510 11.5 Total 16.8 540 19.8 Barber Measured 0.7 480 0.7 Indicated 2.5 430 2.4 Inferred 26.6 490 28.7 Total 29.8 480 31.9 Total Measured 3.8 520 4.3 Indicated 11.7 510 12.9 Inferred 38.5 490 41.7 Total Lance 53.9 500 59.0 Note (1) JORC table included in an announcement to the ASX released on 25 September 2026: “Mineral Resource Increases to 59.0Mlbs U3O8 at the Lance Project”. Peninsula confirms that it is not aware of any new information or data that materially affects the information included in this announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented h ave not been materially modified from the original market announcement. Note (2) Please note that in accordance with Clause 17 of the JORC (2012) Code, the potential quantity and grade of the ”Exploration T arget” in this presentation must be considered conceptual in nature as there has been insufficient exploration to define a Miner al Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. Refer Appendix 2. Refer to Appendix 3 for mineral resource and grade details of deposits referenced in diagram above
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Kendrick is the next sequential production area following production at the Ross Area Project area is fully permitted to commence mining operations, with all approvals received from Wyoming Department of Environmental Quality (WDEQ) and EPA Project area spans approximately 7,992 acres Next Steps • Development of MU-5 • Further delineation and exploration drilling – beyond MU-5 • Workstreams will feed into updated production guidance from 2028 Kendrick Development Project 14 Please refer to ASX Announcement 25 September 2026: “Mineral Resource Increases to 59.0Mlbs U3O8 at the Lance Project” Peninsula confirms that it is not aware of any information or data that materially affects the information included in these announcements and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. Classification Tonnes (Mtonnes) Average Grade (ppm) U3O8 Metal (Mlbs) Measured 1.2 540 1.4 Indicated 5.4 580 6.9 Inferred 10.2 510 11.5 Total 16.8 530 19.8
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Kendrick • Fully-permitted • Development underway – 2026 • Optimisation studies to be reviewed • Plan to convert resources from inferred to indicated Barber • Large, under-delineated inferred resource • Plan to convert resources from inferred to indicated • Potential future satellite operation Dagger • Higher-grade resource (6.9Mlbs @ 1,037ppm) • Satellite ISR opportunity • Further exploration • Scoping Study underway These projects provide long-term growth optionality Regional and Satellite Growth Pipeline 15 Kendrick Development Area The next sequential production area, with an estimated resource of 19.8Mlbs U3O8 – Permit to Mine and Source Materials Licence in place. Barber Exploration Project Significant upside in production growth and life of mine extension adjacent to Lance, with an estimated Resource of 31.9Mlbs1 U3O8. Please refer to ASX Announcement 25 September 2026: “Mineral Resource Increases to 59.0Mlbs U3O8 at the Lance Project”
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The Strategic Context 16
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The uranium market is entering a structurally undersupplied phase, requiring new primary production Demand Growth • Global uranium demand forecast to increase materially to 2040 • Nuclear increasingly recognized as critical for: • Energy Security • Decarbonisation • AI / data center power demand Supply Constraints • Limited new projects coming into production • Long lead times (10-15 years) • Declining secondary supply Market Implications • Structural supply deficit expected to widen • Incentivising new primary production and restarts Uranium Demand Growth Outpacing Supply 17 The US operates 94 nuclear reactors across 54 plants, generating about 20% of the nation’s electricity
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Positioned to be a Meaningful USA Uranium Supplier 18 US Demand CY 2024 US Production CY 2025 2.2Mlbs56Mlbs Mlbs per year vs. Existing production platform • Fully permitted ISR operation in Wyoming • CPP constructed and largely commissioned • Production already underway Scalable growth • Clear pathway • CY2027 0.5 – 0.6Mlbs p.a. Leverage to market • Uncontracted production (exposure to pricing) • Positioned to benefit from rising US demand Strategic location • US jurisdiction • Existing infrastructure + resource base Peninsula offers a rare opportunity to invest in a near- term, scalable US uranium producer Source: U.S. Energy Information Administration, “Uranium Marketing Annual Report” released September 30, 2025 and “Domestic Uranium Production Report Fourth-Quarter 2025” released March 2026
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Summary 19
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Peninsula is moving from commissioning complexity toward repeatable wellfield performance supported by a constructed US production platform, a large resource base, and a disciplined approach to growth 20
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ASX: PEN OTCQB: PENMF 21 CONTACT Email info@pel.net.au Phone +61 8 9380 9920
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Appendices 22
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Appendix 1 – Resources 23 Classification Tonnes (million) Grade (ppm U3O8) U3O8 Metal (Mlbs) Measured 3.8 520 4.3 Indicated 11.7 510 12.9 Inferred 38.5 490 41.7 Total 53.9 500 59.0 Classification Tonnes (million) Grade (ppm U3O8) U3O8 Metal (Mlbs) Inferred 3.0 1,037 6.9 Total 3.0 1,037 6.9 Lance Project Resource Estimate as at 31 December 20251 Dagger Resource Estimate as at 23 October 20232 Note (1) Updated Lance Projects Mineral Resource Estimate and JORC Table 1 included in an announcement to the ASX released on 25 September 2026: “Mineral Resource Increases to 59.0Mlbs U3O8 at the Lance Project”. (2) ASX Announcement released on 23 October 2023: “Peninsula Establishes Significant New Uranium Development Project”. Peninsula confirms that it is not aware of any information or data that materially affects the information included in these announcements and that all material assumptions and technical parameters underpinning the estimates continue to apply and have n ot materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially mo dified from the original market announcements.
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Appendix 2 – Lance Exploration Project (Additional Disclosure) 24 Exploration Target1 The Lance Project covers a significant proportion of the Powder River Basin. Cretaceous sandstones of Wyoming, which are believed to represent an Exploration Target of between 104Mlbs and 163Mlbs eU3O8 Lance Project Exploration Target (excluding the existing JORC (2012) Code Compliant Resource)2 Exploration Target Tonnes (million) Grade eU3O8 (ppm eU3O8) (Mlbs) Range From To From To From To Total 118 145 426 530 104 163 Note (1) Please note that in accordance with Clause 17 of the JORC (2012) Code, the potential quantity and grade of the ”Expl oration Target” in this Presentation must be considered conceptual in nature as there has been insufficient exploration to defin e a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. Basis of Exploration Target: Exploration Target is based on a combination of Exploration Results and on proposed exploration programmes. Exploration Results: Approximately 7,500 drillholes, of which over 2,500 have been drilled and PFN logged since 2009. The data from these holes ha s been used to determine a JORC (2012) Code compliant resource and to extrapolate between areas of limited drilling but still w ithin the mineralised trends. Proposed Exploration Programmes The Company has minerals rights to 122.2 square kilometres. This package covers the most prospective mineralised redox /roll front trends that have a cumulative strike length of over 300km. The Company intends to continue exploration over this ground wi th drilling in order to validate the exploration target and convert to resources .
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Appendix 3 – Resource references 25 Measured MLBS Measured Grade Indicated MLBS Inferred Grade Inferred MLBS Inferred Grade Source Cameco North Butte - Brown Ranch 1.1 0.08 8.4 0.07 0.4 0.07 2024 mineral reserves and resources https://www.cameco.com/sites/default/files/documents/202 4-mineral-reserves-and-resources.pdf Smith Ranch-Highland 7.9 0.1 0.05 17 7.7 0.05 Gas Hills - Peach 1.7 0.11 11.6 0.15 6 0.08 Ruby Ranch 4.1 0.08 0.2 0.14 UEC Reno Creek 12.9 0.043 13.1 0.039 1.5 0.039 S-K 1300 Technical Report Summary Wyoming ISR Hub and Spoke Project https://www.sec.gov/Archives/edgar/data/1334933/0001437 74922022435/ex_423213.htm https://www.uraniumenergy.com/projects/wyoming/ Willow Creek 0 0 15.5 0.74 0.14 0.068 Moore Ranch 3.2 0.06 0 0 0.043 0.047 Nine Mile Lake 0 0 0 0 4.3 0.036 Allemand Ross 0.42 0.085 0.042 0.066 2.5 0.098 Charlie 0 0 3.1 0.123 0.99 0.12 Clarkson Hill 0 0 0 0 1.1 0.058 Red Rim 0 0 1.4 0.17 1.5 0.163 Ludeman 5 0.094 4.7 0.088 1.3 0.073 Barge 0 0 4.4 0.051 0 0 Jab/West Jab 2.3 0.072 0.39 0.077 1.7 0.06 Ur-Energy Lost Creek 8.4 0.049 4.2 0.044 6.1 0.043 Lost Creek ISR Uranium Property, Sweetwater County, Wyoming, USA https://d1io3yog0oux5.cloudfront.net/_6fb08984f6450fb3553 d43a0c92c5ddd/urenergy/db/697/5519/file/20231231+Lost+ Creek+TRS+v3+%283.1%29_REDUCED+SIZE.pdf Shirley Basin 7.5 0.275 1.3 0.118 0 0 Shirley Basin ISR Uranium Project Carbon County, Wyoming, USA https://d1io3yog0oux5.cloudfront.net/_6fb08984f6450fb3553 d43a0c92c5ddd/urenergy/db/697/5523/file/20231231+SB+T RS+as+amended.pdf Energy Fuels Nichols Ranch Combined M+I resources 7 0.106 1.3 0.097 https://energyfuels.com/wp-content/uploads/2025/01/SLR- Energy-Fuels-Nichols-Ranch-FINAL-Technical-Report- Amended-8-Feb-2023.pdf Jane Dough 0 0 3.6 0.11 0.3 0.11 Hank 0 0 0.9 0.1 0.8 0.1 enCore Gas Hills 1 0.1 2.8 0.1 0.4 0.05 Technical Report on the Gas Hills Uranium Project Fremont and Natrona Counties, Wyoming, USA https://encoreuranium.com/wp- content/uploads/2025/05/2025_2_4-Technical-Report-Gas- Hills_FINAL_ROpt.pdf Juniper Ridge (non-isr) 0 0 6 0.058 0.2 0.085 Juniper Ridge Uranium Project Carbon County, Wyoming, USA https://encoreuranium.com/wp- content/uploads/2023/06/JUNIPER-RIDGE-URANIUM- PROJECT-Final-6-13-2017-AMENDED-AND-RESTATED.pdf Aladdin 0 0 1 0.11 0.1 0.12 Technical Report on the Aladdin Uranium Project Crook County, Wyoming https://encoreuranium.com/wp- content/uploads/2023/06/FinalAladdin43-101.pdf American Uranium Lo Herma 0 0 2.78 0.063 5.79 0.063 December 2024 Press Release https://wcsecure.weblink.com.au/pdf/GTR/02895186.pdf