Peninsula Energy (PEN) Investor Presentation summary

Strategic positioning and market context

• Positioned to capitalize on US and global nuclear energy growth, with Lance Project in Wyoming as a cornerstone uranium asset.

• US policy shifts, including executive orders and funding, are driving a nuclear revival and boosting domestic uranium supply.

• Lance Project benefits from strong fundamentals, significant resource base, and is fully licensed for in-situ recovery operations.

• US uranium consumption far exceeds domestic production, creating a favorable market for new producers.

• Policy support includes a US ban on Russian uranium and $2.72B in Department of Energy funding for domestic supply.

Project execution and operational reset

• Central Processing Plant (CPP) fully constructed with 2Mlbs/year capacity; commissioning underway and first production expected in September quarter 2025.

• Previous operational gaps addressed by redesigning wellfield patterns, improving flow rates, and refreshing management.

• Reset production plan phases: commissioning in 2025 (up to 50,000 lbs), ramp-up in 2026–27 (400,000–600,000 lbs/year), targeting full-scale 1.2–1.5Mlbs/year from 2028.

• Wellfield design and maintenance optimized, with tighter patterns and improved acid injection practices.

• Contract book reset, eliminating 5.14Mlbs of legacy contracts and providing full exposure to spot uranium prices for 2026–27.

Resource base and growth pipeline

• Lance Project holds 58Mlbs JORC-compliant U3O8 resources, with significant upside at Kendrick (19.8Mlbs), Barber (31.9Mlbs), and Dagger (6.9Mlbs at higher grade).

• Exploration target for Lance Project estimated at 104–163Mlbs eU3O8, highlighting long-term growth potential.

• Kendrick and Barber projects fully permitted or advancing, with ongoing drilling and optimization studies to support future production expansion.

• Dagger Project offers high-grade satellite development potential, with scoping study commencing October 2025.

• CPP is capable of processing up to 3Mlbs/year with minimal expansion, supporting future growth.