Energy Resources of Australia (ERA) investor relations material

Executive summary

• Net loss after tax for the half-year ended 30 June 2025 was $35 million, a significant improvement from a $146 million loss in the same period in 2024, mainly due to lower impairment and changes in rehabilitation estimates.

• Revenue for the half-year was $31.5 million, up from $17.5 million year-over-year, primarily from interest income on higher cash and term deposit balances.

• The company remains focused on the rehabilitation of the Ranger Project Area, with ongoing legal proceedings regarding the Jabiluka Mineral Lease and no exploration expenditure during the period.

• No interim dividend was declared for the half-year, and no final dividend was paid for 2024.

Financial highlights

• Cash flow from operating activities was negative $100 million, compared to negative $89 million in the prior year period.

• Rehabilitation costs for the half-year were $106 million, up from $85 million year-over-year.

• Total cash resources, term deposits, and securities receivables at 30 June 2025 were $1,239 million, with $231 million in cash and $460 million in term deposits.

• Net tangible assets per share remained negative as of 30 June 2025.

Outlook and guidance

• Funding from the 2024 entitlement offer is expected to support rehabilitation activities until Q3 2027; additional funding will be required beyond that point.

• The company expects to continue operating at a loss due to ongoing rehabilitation work, with interest income as the only significant revenue source.

• Strategic priorities include executing the rehabilitation scope, progressing technical studies, negotiating to extend the Ranger authority, and preserving undeveloped resources.