Deep Yellow (DYL) Q4 2025 TU earnings summary

Executive summary

• Advanced engineering, procurement, and operational planning at the Tumas Project, with 92% of direct capital procurement well-advanced and early site works largely completed.

• Mulga Rock Project completed a successful 3-month resin mini-pilot study, confirming effective separation of uranium and critical minerals, supporting a revised DFS now underway.

• Group cash balance stood at A$217.4M at quarter end, reflecting a strong financial position.

Financial highlights

• Group cash balance at 30 June 2025 was A$217.4M.

• Expected receipts of approximately A$9.5M in FY26 from R&D refund, VAT refunds, and loan repayments.

• Quarterly development spend: A$6.5M at Tumas; A$2.9M on exploration at Mulga Rock and Alligator River.

• Payments to related parties and associates totaled approximately A$685K for the quarter.

Outlook and guidance

• Tumas Project progressing toward final investment decision, with operational readiness and major contracts advancing.

• Mulga Rock revised DFS expected to complete in Q3 CY2026, incorporating updated process flowsheet and ORE.

• Alligator River Project field programs and government co-funding grants to support exploration in H2 CY2025.