Nexgen Energy (NXE) Corporate presentation summary

Strategic project overview

• Rook I is under construction and will be the largest single uranium source under development, capable of supplying ~20% of global primary and over 50% of western uranium supply, with robust after-tax cash flow and expansion potential.

• The Arrow deposit features ultra-high grades (2.37% reserves, 239.6M lbs), simple geology, and allows for efficient, low-cost, conventional underground mining with minimal environmental impact.

• Construction milestones include federal approval in March 2026 and major construction commencement in June 2026, with key infrastructure like a 3,000-ft airstrip and expanded camp completed.

• The project is supported by formal Indigenous Benefit Agreements and strong local partnerships, with 94% of 2024 procurement spend going to local suppliers.

• Rook I’s impact includes powering up to 46 million homes annually and displacing over 300 million tonnes of CO₂ per year.

Uranium market dynamics

• Global nuclear capacity is set to grow 20% by the early 2030s, with 38 countries pledging to triple capacity by 2050, driving uranium demand to unprecedented levels.

• By 2040, the uranium supply gap is projected to reach 335M lbs annually, requiring mine supply to more than triple from today’s levels.

• 85% of all uranium mined since 1945 will be consumed in the next 25 years, with supply unable to respond quickly due to long development timelines.

• Over 90% of western uranium supply is tied to long-term contracts below market pricing, and less than 1% of demand is met by domestic production in the US, UK, and Europe.

• Uranium is the bottleneck for nuclear energy growth, with fuel supply being the key limiting factor for the clean energy transition.

Investment case and financials

• Contracting strategy is designed to maximize leverage to rising uranium prices, with 11.7M lbs in sales commitments at market-related pricing.

• Projected after-tax free cash flow (FCF) positions the company among the top 10 global mining companies, with significant sensitivity to uranium price increases.

• The project is a $37 billion economic engine for Canada, generating $3B in federal and $8B in provincial taxes, and supporting 1,400 annual jobs in Saskatchewan.

• Strong balance sheet with C$930M cash, strategic uranium inventory, and supportive shareholder alignment, enabling a fully funded path to production.

• Efficient capital allocation with the highest ratio of exploration/development spend to G&A among uranium peers.