U92 Energy Corp. · TSXV:UTWO
U92 Energy — Investor Presentation (October 2026)
34 slides from U92 Energy's investor presentation, October 2026
Slide 1: Investor Presentation - October 2026
ENERGY CORP. INVESTOR PRESENTATION - OCTOBER 2026 - REV O An Blvanicen Uranium resource in the Americas U92 Energy Corp. | TSXV: UTWO
Slide 2: Disclaimer
Disclaimer ‘This presentation, as supplemented or amended from time to time, is for information purposes only and does not constitute an offer 10 sell or a solicitation of an offer to buy securities. The information contained herein has been prepared for the purpose of providing interested parties w
Slide 3: Opportunity
Opportunity ESTABLISHED RESOURCE 20.6 mio usce (Indicated 10.59 Mib at 0.072% and Inferred 10.05 Mlb at 0.067% U20s) Historical resource estimate, at a 0.03% cut-off. Source: NI 43-10] Technical Report, 4 August 2025 U92 Energy Corp. : TSXV: UTWO MINERALISED TARGETS +10) LICENCE AREA oS km? 129,000
Slide 4: Guyana: An economy driven by natural resources
Guyana An economy driven by natural resou Hydrocarbons, gold and bauxite drive the econo investment reached US$83 billion in 2024’. EXXONMOBIL CONSORTIUM G MINING VENTURES ZIJIN MINING FAST-GROWING ECONOMY +US$60B’ +US$3B’ » US$238M’ > GDP ylelerc Stabroek project. Reunion Gold, G2 Goldfields and «
Slide 5: An Established Mining Jurisdiction
An Established Mining Jurisdiction Four mining companies within 190 km Atlantic Ocean G Mining Ventures Oko West Pas @zisin aN Cuyuni River ‘ 3 vee Georgetown Ory i= cota 10) 130kME —uNndER ConsTRUCTION ® Aurora =e — ARIS MINING a i nina Aris Mining i} VENTURES Toroparu 7 it \ Bartica C _ Toroparu I
Slide 6: Uranium Market
Uranium Market Uranium demand that supply can’t meet Nuclear power contributes approximately 9% of the world's electricity, and every reactor runs on uranium’. The number of reactors is growing, with governments and the largest technology companies signing up for more. 44] _ 80 ,| 123 Operating reac
Slide 7: Investment Highlights
Investment Highlights An established uranium resource with a clear path to development 20.6 Mlb U3Os 0.59 Mlb at ¢ 10.05 Mlb at 0. TOTAL CORE ON SITE 88,000 m Diamond drill core, stored on the property. 92 Energy Corp. TSXV: UTWO INDICATED GRADE 0.072 « Indicated category of the historical resource
Slide 8: Board and Independent QP
Board and Independent QP Over 150 years of experience in natural resources, building companies from discovery to develooment eo o ® EXECUTIVE CHAIRMAN AND CEO Adam Clode Adam brings over 25 years’ experience across the resources sector, capital markets and project development, with a focus on strate
Slide 9: The Kurupung Project
The Kurupung PrOjeeL In the Cuyuni-Mazaruni region of Guyana.
Slide 10: A Geological Model Unlocked
A Geological Mode! Unlocked 20.6 million pounds, and ten additional mineralised targets already drilled 20.6 Mib UsOg (Indicated 10.59 Mlb at 0.072% and Inferred 10.05 Mlb at 0.067% Ue). Historical resource estimate, 0.03% cut-off. 129,000m drilled Cogema (Orano) and U308 Corp., 1979 to 2012, 88,000
Slide 11: Historical Resource Estimate
Historical Resource Estimate 20.6 Mib UsOs, at a 0.03% cut-off (Indicated 10.59 Mib at 0.072% and Inferred 10.05 Mlb at 0.067% UsOe) INDICATED INFERRED DEPOSIT TONNES GRADE POUNDS TONNES GRADE POUNDS TOTAL Aricheng West 1,338,000 0.064% 1,902,000 4,022,000 0.061% 5,376,000 7.28 Mib Aricheng South 3,
Slide 12: The Objective
he Objective Increase the mineral resource to support an initial ten-year life of mine (+3 Mlb per annum) The licence areas host large-scale, extensively mineralised magnetic low corridors, open at depth and along strike. 01 Mineralisation Open Along Strike The deposits are extensively open along st
Slide 13: A Clear Path to Grow the Resource Base
A Clear Path to Grow the Resource Base Fewer holes, more pounds DISCOVERY COST REDUCED BY 61% 28,000 Aricheng West 7.28 Mib 106 holes :24,941m, fit ASE! Aricheng South Resuineats 4 5.74 MIb ene = 100 holes 18877 3.41 Mib oO 106 holes -18,036m 14,000 Drilled first a iW 4 fe Accori North C Aricheng C
Slide 14: Mineralisation Open in All Directions
Mineralisation Open in All Directions Over 15,000 metres (82 holes) in 10 additional mineralised targets, already drilled * Accori North C — 5.209 24 Aricheng West 7.28 mb ee Accos _— ese * Aricheng Alpha eee) 1,613 8 Aricheng South 5.74 mb Meamu —— 1,572 8 ey Aricheng A — 1227 - Aricheng Sigma = 96
Slide 15: Discovery Cost per Pound
Discovery Cost per Pound Unlocking the geological model has reduced the discovery cost per pound by 61% DISCOVERY COST TO FIND A POUND OF U30s Aricheng North Drilled first - 106 holes - 18,036m - 3.41 Mlb. US$0.82/ir ic Aricheng C Drilled fourth - 34 holes - 8,709m - 4.21 Mib US$0.32/p OQ) reduction
Slide 16: Discovery Cost per Pound by Deposit
Discovery Cost per Pound by Deposit Unlocking the geological model has significantly reduced the cost of discovery DEPOSIT HOLES METRES COST AT US$155/m POUNDS COST PER Ib usr asus 106 18,036 US$2.80M 3.41 Mlb US$O.82 Aricheng West 106 24,941 US$3.87M 7.28 Mlb 0s Aricheng South 100 18,877 US$2.93M 5
Slide 17: Work Programme
Work Programme Our path to development THE OBJECTIVE Increase the mineral resource to support an initial ten-year life of mine (+3 MIib per annum). Phase 1 exploration plan finalised Camp construction and infrastructure Core logging and sampling Mobilise the drilling contractor Phase 1 drilling, 5,0
Slide 18: Peer Production
Peer Production Namibian open pits run at 3.5 to 5 million pounds a year ANNUAL PRODUCTION GRADE CASH OPERATING COST MINE AND OWNER MLB Us00 % U208 US$ PER POUND Etango-8 3.5 0.024% US$35.80 Bannerman Energy -In development Sudy seis year ike Reserve grade 2024 study estimate Tumas 3.6 Deep Yellow:
Slide 19: Grade and Cost Comparison
Grade and Cost Comparison Grade and cost are not a straight line Grade against cash cost per pound for two Athabasca Basin mines and two Namibian PROJECT GRADE, % U30g CASH COST, US$ PER POUND open pits. KURUPUNG 0.072% 1 CIGAR LAKE AGAINST ETANGO-8 Cigar Lake e135» [EE ussi70 68 O x richer arade Ca
Slide 20: An Undervalued Opportunity
An Underva lu Opportunity U92 Energy Corp. shows significant value against its peers, on value per pound in the groundand market capitalisation. 92 Energy Corp, -TSXv: UTWO
Slide 21: Peer Valuation
Peer Valuation US$0.70 EV per pound against a US$1.32 EV per pound peer average Verdera Energy Elevate Uranium Frontier Nuclear & Minerals American Uranium Global Atomic Aura Energy Blue Sky Uranium Premier American Uranium U92 Energy Corp. * Asarian Energy Laramide Resources Berkeley Energia Penins
Slide 22: Market Capitalisation
Market Capitalisation C$26.1 million against a C$245 million average American Uranium ff C$8 Blue Sky Uranium [Ml CS20 us2 Energy Corp. [lll c$26 Verdera Energy [ C$27 Western Uranium [i C$36 Frontier Nuclear & Minerals [I C337 Jaguar Uranium [i C34) Premier American Uranium [i C342 Aura Eneroy I C5
Slide 23: Uranium Peers and Valuation
Uranium Peers and Valuation Peer listed advanced exploration uranium companies — KEY ASSET ATTRIBUTABLE RESOURCE VALUATION company TICKER MARKETCAP ENTERDRISE VALUE JURISDICTION Kev ASSET STAGE TYPE Mai INFERRED Mais HISTORIC MAIvi HIST. GRADE EV/Malsl EV/MBIOI + HIST cs csi to Mb ib wit Min. ust ‘A
Slide 24: What we have achieved
What we have achieved HISTORIC RESOURCE 20.6 Mlb U3sOs Indicated: 10.59 Mlb at 0.072% UsOs Inferred: 10.05 Mlb at 0.067% UsOe At a 0.03% cut-off. GEOLOGICAL MODEL Unlocked Mineralisation is open at depth and along strike in extensively mineralised magnetic low corridors. Where we are going THE OBJEC
Slide 25: Thank You
ENERGY CORP. hank You Adam Clode Executive Chairman and CEO EMAIL LISTING info@u92corp.com TSXV: UTWO. 92 Energy Corp. TSXV: UTWO WEBSITE u92corp.com
Slide 26: Technical Appendix
APPENDIX Technical Appendix What sits behind the numbers in this deck. Al Interpretation of Magnetic Low Corridors A2 Long Sections AZ Ore Shoots Below Aricheng South 192 Energy C XV: UTWO
Slide 27: Interpretation of Magnetic Low Corridors
Al nteroretation of Magnetic Low Corridors Mineralised targets are identified utilising airborne geophysics and soil geochemistry oe s A cm ji (@)Aricheng North Aroka Aricheng C Accori North A ‘Accori North)B Accori North C Wild Cow Aécori South @ Drill Collar Prospecting licences Deposit in the his
Slide 28: Long Sections
Long Sections Mineralisation is open at depth and along strike in extensively mineralised magnetic low corridors Aricheng North Aricheng South 130 m 3.41 mio 130 m 5.74 mip AVERAGE HOLE DEPTH FROM SURFACE HISTORICAL ESTIMATE AVERAGE HOLE DEPTH FROM SURFACE HISTORICAL ESTIMATE SW Southern Extension S
Slide 29: Ore Shoots Below Aricheng South
Ore Shoots Below Aricheng South Mineralisation is open at depth and along strike in extensively mineralised magnetic low corridors Long Section Through the Mineralised Vein Mineralisation splits into ———————— Ww 2 subparallel structures E eooceee The long section, left, shows the mineralised vein at
Slide 30: Source Appendix
APPENDIX Source Appendix Where the peer and production figures in this deck come from Sito s3 Peer Resource Sources $4 Production and Cost Sources 92 Energy C XV: UTWO 30
Slide 31: Peer Resource Sources
sl Peer Resource Sources Attributable resources are calculated on the expected ownership of the applicable property by its owner, taking into account any third- party interests. Attributable resources include historical resource estimates, which may not be compliant with NI 43-101 standards. Resourc
Slide 32: Peer Resource Sources (2)
s2 Peer Resource Sources (2) Bannerman Energy Ltd. ASX release, “Etango-8 Definitive Feasibility Study”, 6 December 2022 (November 2021 Mineral Resource, JORC 2012). bannermanenergy.com. “Etango-XP and Etango-XT Scoping Study”, 18 March 2024. Berkeley Energia Ltd. ASX release, Salamanca Mineral Reso
Slide 33: Peer Resource Sources (3)
s3 Peer Resource Sources g) IsoEnergy Ltd., continued “Technical Report on the Mineral Resource Update for the Matoush Project, Central Québec, Canada”, 12 February 2012. “Technical Report on the Dieter Lake Property, Quebec, Canada”, 7 October 2011. “Technical Report on the Mining Leases Covering t
Slide 34: Production and Cost Sources
S4 Production and Cost Sources Figures used on the Peer production and Grade and cost pages. Costs are in US$ per pound. Cameco figures are average operating costs over the remaining mine life, Tumas is a Cl cash cost after by-product credit, and the others are cash operating costs excluding royalti