Deep Yellow (DYL) H2 2026 earnings summary

Executive summary

• Advanced development of flagship Tumas Project in Namibia, with key milestones including completion of bulk earthworks, execution of power and water supply agreements, and progress toward a Final Investment Decision (FID) anticipated in Q4 2026, subject to market conditions.

• Mulga Rock Project in Western Australia advanced through pilot programs and feasibility studies, targeting uranium, base metals, and rare earths recovery.

• Exploration activities expanded in Namibia and Australia, with significant drilling results at S-Bend, Tinkas, and Alligator River projects.

• Leadership transition with appointment of new MD/CEO Greg Field and board changes to strengthen governance and execution capability.

Financial highlights

• Net profit after tax for FY2026 was $13.3 million, up from $7.2 million in FY2025.

• Cash and at-call deposits at year-end totaled $159.6 million, down from $217.4 million in FY2025.

• Net assets increased to $660.8 million from $633.2 million year-over-year.

• Earnings per share rose to 1.37 cents from 0.74 cents year-over-year.

• No dividends declared or paid for the year.

Outlook and guidance

• FID for Tumas Project targeted for Q4 2026, with construction readiness advanced and major contracts awarded.

• Mulga Rock Project expected to deliver first product approximately two years after Tumas commences production.

• Continued focus on disciplined capital management, project de-risking, and advancing exploration pipeline.