Nexgen Energy (NXE) investor relations material

Market context and uranium demand

• Global nuclear capacity is set to grow from 400 GW to over 1,200 GW by 2050, with 38 countries pledging to triple nuclear output, driving unprecedented uranium demand.

• Uranium prices have surged from $17/lb a decade ago to $97/lb, yet supply response remains limited, resulting in a growing annual deficit of about 60 million pounds.

• Existing uranium mines are depleting, and new supply faces long lead times, with meaningful new production not expected until the 2040s.

Project overview and execution

• Rook I is on track to become the largest uranium producer in the Western world within four years, with a phased capital plan and clear milestones.

• The project is 75% through the journey from discovery to production, with the final 25% focused on construction and value creation.

• Integrated project teams and milestone-driven execution ensure accountability and efficient capital deployment.

Construction and operational milestones

• Major construction activities include shaft pad preparation, shaft sinking, underground development, and completion of the underground tailings facility.

• By Q3 2030, all surface and underground features will be completed, with first ore delivered for commissioning and production.

• The project uses proven mining and milling methods, with automation and remote operations integrated from inception.