Aura Energy (AEE) Investor presentation summary

Strategic positioning and market context

• Focused on near-term uranium production in Mauritania, leveraging Africa's established uranium sector and supportive investment climate.

• Mauritania offers a stable government, clear mining legislation, and a history of successful resource projects.

• Global uranium demand is rising due to nuclear energy's role in decarbonization and supply deficits, with China and the US driving reactor growth.

• Africa is geopolitically neutral and well-positioned to supply major uranium consumers.

Tiris uranium project highlights

• Tiris project in Mauritania has 91.3Mlbs U3O8 Mineral Resources and 33.6Mlbs Ore Reserves as of June/Dec 2024.

• Project economics: post-tax NPV of US$499M, IRR 39%, payback in 2.25 years, and AISC of US$35.7/lb.

• 25-year mine life with average production of 1.8Mlbspa, scalable with significant exploration upside.

• Fully licensed, with all permits secured and production targeted for 2027.

Operational and technical advantages

• Simple shallow open-pit mining with low strip ratio and no need for crushing or grinding.

• Wet screening upgrades ore 6–8 times, generating high-grade leach feed (2,217ppm U3O8 first 5 years).

• Central processing facility uses conventional alkaline leaching at 0.52Mtpa.

• No waste dumps or tailings dams; waste is backfilled into pits.