Peninsula Energy (PEN) Corporate Presentation summary

Project overview and assets

• Advancing the Lance uranium ISR project in Wyoming, a fully licensed operation with a central process plant and significant remaining resources across Ross, Kendrick, and Barber areas.

• Total JORC (2012) resources of 58.0 Mlbs U3O8, with exploration targets of 104–163 Mlbs eU3O8, positioning the project among the largest uranium ISR assets in the US.

• Scalable asset base with multiple growth avenues, including the Dagger Project, which holds 6.9 Mlbs U3O8 inferred resources at more than double the grade of Lance.

Financial position and market context

• Market capitalization of A$280 million and a cash balance of US$99.9 million as of June 2024, supporting operations through to sustainable free cash flow.

• Favourable uranium market dynamics, with US policy shifts and global supply constraints supporting higher prices and robust demand.

• Six offtake contracts cover about 40% of planned production over the next decade, providing price protection and sales flexibility.

Project development and operational progress

• Transitioned to low-pH ISR recovery, with field-scale demonstrations showing improved recovery rates and plant upgrades underway to expand capacity to 2 million lbs per annum.

• Construction for Phase II plant expansion is progressing rapidly, with major equipment ordered and wellfield development on schedule.

• Preconditioning of wellfields and process optimization testing are ongoing, with first production targeted for late 2024.