Nexgen Energy (NXE) investor relations material

Project overview and strategic positioning

• Advancing a high-grade, large-scale uranium project (Rook I) in Saskatchewan, Canada, with potential to supply over 20% of global uranium from a single mine based on feasibility study projections.

• Project is fully permitted for construction, with major construction set to begin in summer 2026 following final federal approval in March 2026.

• Rook I features conventional hard-rock mining, ultra-high grades, and robust after-tax cash flow potential, positioning Canada as a leading uranium supplier.

• The Arrow deposit is among the world’s most robust, with reserves grade of 2.37% for 239.6 million lbs and over 65% of measured & indicated resource at 15.9% U3O8.

• Project economics remain based on the 2021 Feasibility Study, with strong NPV and IRR across a range of uranium price scenarios.

Market dynamics and uranium demand

• Global nuclear capacity is set to increase by 18% by 2030, with over 30 countries pledging to triple capacity by 2050, driven by AI and electrification trends.

• Uranium supply is projected to fall short, with a 319 Mlbs annual deficit by 2040, requiring global supply to more than double.

• OECD countries rely on foreign sources for 70% of uranium demand, with less than 1% produced domestically in the US, UK, and Europe.

• Rook I is positioned as a critical supply source, helping diversify away from geopolitically risky suppliers.

Operational and environmental advantages

• Arrow’s geology allows for conventional, efficient, and safe underground mining, with low operating costs and minimal surface tailings exposure due to underground storage.

• Industry-leading underground tailings management eliminates surface disturbance and sets a new global standard for environmental mine management.

• High-grade ore enables low material movement: only 3 trucks per day feed the mill, reducing infrastructure and environmental impact.