Deep Yellow (DYL) Company Presentation summary

Strategic positioning and market context

• Operating two advanced uranium projects in Tier-1 jurisdictions, providing supply diversity and security for stakeholders.

• Near-term uranium production targeted, with Tumas aiming for FID in March 2025 and production by late 2026.

• Global uranium demand is surging, driven by nuclear expansion in China, India, EU, North America, and data center growth, while supply remains constrained.

• Nuclear energy is essential for meeting zero-emission targets and rising electricity needs, with fossil fuels still dominating global energy supply.

• Positioned as a top ASX200 performer in FY24, supported by a strong financial base and no debt.

Project portfolio and development updates

• Holds one of the largest uranium resource bases among ASX-listed peers, with 430 Mlb across multiple projects.

• Tumas Project in Namibia has a 20-year mining license, 79.5 Mlb ore reserves, and a 30-year LOM, with potential extension to 35-40 years.

• Tumas FID deferred to March 2025 due to cost and optimization reviews; early works and infrastructure contracts progressing.

• Mulga Rock in Western Australia is being advanced as a polymetallic project, with significant upgrades in uranium and critical minerals resources.

• Alligator River (NT) and Omahola (Namibia) offer substantial exploration upside, with high-grade resources and large prospective zones.

Production outlook and timelines

• Two advanced projects (Tumas and Mulga Rock) are scheduled to deliver over 7 Mlb annual uranium production.

• Tumas targets first production in 2H 2026, while Mulga Rock aims for 2028 after a revised DFS.

• Alligator River and Omahola exploration programs are ongoing, with production potential beyond 2030.

• Key workstreams include project finance, grade control, and infrastructure for Tumas, and mining/metallurgical studies for Mulga Rock.

• Ongoing M&A focus to expand the asset base and scale.