Deep Yellow (DYL) investor relations material

Corporate and market overview

• Holds a globally diversified asset portfolio with two advanced uranium assets and a high-value exploration pipeline in Australia and Namibia.

• Development strategy targets production exceeding 10 million pounds per annum within the next decade through sequential project development.

• Team has extensive uranium industry experience, including building and operating major mines and innovating with membrane technology for reagent recycling.

• Market cap stands at $1.6 billion with $217 million in cash as of June 30, and is included in the ASX 200.

• Leadership team collectively brings over 500 years of uranium experience, with key roles in major global projects.

Project updates and development plans

• Tumus project in Namibia completed a revised DFS, targeting 3.6 million pounds per annum over 30 years, with an IRR of 19% and NPV of $577 million.

• FID for Tumus deferred until uranium prices reflect structural supply deficit; detailed engineering and early works continue.

• Malga Rock in WA is one of Australia’s largest undeveloped uranium mines, with a granted mining lease and 105 million pound resource.

• Alligator River project in NT covers 3,895 sq km of highly prospective ground.

• Mulga Rock project acquired with Vimy, focusing on Eastern Zone with significant resource and economic upgrades.

Industry trends and uranium market outlook

• Uranium prices saw significant increases in 2021 and 2023 due to inventory depletion and supply shortfall recognition.

• Recent price volatility linked to policy changes, executive orders, and market recognition of production challenges.

• Global pivot to nuclear power is accelerating, with governments and tech companies driving new build programs and policy shifts.

• Major commitments include a fourfold increase in US reactor fleet and 31 countries aiming to triple nuclear capacity by 2050.

• Over 90 SMR designs in development, expected to impact demand in the near future.