Slide 1: Definitive Feasibility Study Completed for Lance
DEFINITI V E FE A SIBILIT Y ST UDY COMPLETED FOR L ANCE A u g u s t 2022 PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 1 INVESTOR PRESENTATION
Slide 2: Disclaimer & Competent Person
D i s cl a im e r & Co m p et e nt P e r s o n This Presentation contains summary information about the current activities of the Company as at the date of this Presentation. The information in this Presentation is of a general nature and does not purport to be complete. This Presentation does not p
Slide 3: Cautionary & Inferred Resources Notice
Ca u t i o n a r y & In fe r re d R e s o u rc e s N o t i c e The Definitive Feasibility Study completed for the Lance Projects includes measured and indicated resources and an assumed resource conversion of 61% (inferred to indicated or greater). The purpose of the Definitive Feasibility Study is
Slide 4: The Peninsula Proposition
T h e P e ni n s ul a P ro p o s i t i o n “Uranium Extraction for a Green Energy Future” Strong Proven Detailed Near- Long Life Balance Team DFS Term FID Project Sheet Significant Highly Up-to-date FID expected PEN is cashflow experienced DFS for in H2 CY2022 perfectly from long- team in Lance with
Slide 5: Corporate Overview
Co rp o ra t e O v e r v i e w 997m A$0.20 A$204m Nil US$7.6m US$15.6m U3O8 Inventory Shares on issue Share Price Market Term Debt Cash (as of 30 Jun 22) (12 August 2022) Capitalisation (as of 30 Jun 2022) (@ US$50.50/lb) Management Team Board of Directors Mr Wayne Heili Chief Executive Officer Mr J
Slide 6: ESG Is In Our DNA
ES G Is In O ur D N A ESG principles have always been core values for Peninsula. The Company is committed to being a responsible member of our local and global communities. We foster a safe, healthy and diverse workplace culture with a strong emphasis on environmental stewardship. Business Ethics
Slide 7: The Lance Uranium In-Situ Recovery Project
T HE L A N CE UR A NIUM IN - SIT U R EC OV ER Y PR OJECT PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 7 INVESTOR PRESENTATION
Slide 8: Lance – A Premier Uranium Production Project
La n c e – A P re mi e r Ura ni um P ro d u c t i o n P ro j e c t Powder River Basin WYOMING, USA Lance Regional Setting Located in Wyoming USA, a leading US uranium extraction jurisdiction PENINSULA ENERGY ASX:PEN; OTCQB:PENMF INVESTOR PRESENTATION 8
Slide 9: The Lance Projects
T h e La n c e P ro j e c t s 53.7 Mlb of JORC (2012) Resources1 - One of the largest US uranium projects • Ross – Fully licensed Uranium ISR production facility • Constructed in 2015 • 2 complete Mine Units with Processing Plant • Kendrick – Adjacent to Ross • The next sequential production area
Slide 10: The Ross Project Process Plant
T h e R o s s P ro j e ct P ro c e s s Pl a nt A Modern, Long-Life Uranium ISR Asset • Licensed to produce up to 3Mlbs U3O8 per annum • Current plant capacity of 0.82Mlbs U3O8 per annum PENINSULA ENERGY ASX:PEN; OTCQB:PENMF DFS PRESENTATION 10
Slide 11: Applying the Industry Leading Low-pH ISR Process
A p p ly i n g t h e In d u s t r y Le a di n g Lo w - p H ISR P ro c e s s Low pH ISR is a proven • Over 50% of global uranium produced in 2020 was via low method of uranium pH ISR production • All of the lowest quartile cash cost uranium mines Technically De-risked • MU1A Field Demonstration and D
Slide 12: 2022 Definitive Feasibility Study
2022 D EFINITI V E FE A SIBILIT Y ST UDY PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 12 INVESTOR PRESENTATION
Slide 13: Strong DFS Economic Outcomes
St ro n g D FS Ec o n o mi c O u t c o m e s Highlights Lance as a Globally Competitive Uranium Production Centre • Focused on low-risk and well-defined Ross and Kendrick Area Resources • Conclusions supported by: • very low capital intensity • low operating costs • competitive all-in sustaining c
Slide 14: Definitive Feasibility Study Key Results
D ef i ni t i v e Fe a s i b ili ty St u d y Key R e s ul t s Excellent Economic Outcomes KEY DFS RESULTS Supported by a Quality Resource Estimated Life of Mine (LoM) 14 years and Detailed Technical Evaluations LoM Project Revenue (real) (US$ M) 895.2 • 14-year Life-of-Mine generating 14.4 Mlb U3O
Slide 15: Capital Efficient Two-Stage Project
Ca p i t a l Eff i ci e nt Tw o - St a g e P ro j e ct Stage 1 converts facility to low-pH and ramps up production to a sustainable rate of 820,000 lbs./year Stage 2 expands the process plant and wellfield capacities to 2 Mlbs/year and constructs the plant processes to make yellowcake onsite Cap
Slide 16: Robust Production & OPEX Metrics
R o b u s t P ro d u ct i o n & O PEX M et ri c s Over the Life-of-Mine at Ross and Kendrick, key Production and OPEX metrics: Production Metrics Total Operating Expenditures US$M Life-of-Mine Production (Mlbs U3O8) 14.35 C1 Direct Operating Cost (excluding Restoration) 234.4 Steady State Producti
Slide 17: Key DFS Updates from 2018 Low-pH Feasibility Study
Key D FS Up d a t e s f ro m 2018 Lo w - p H Fe a s i b ili ty St u d y 1. Project focused on Ross & Kendrick • A targeted resource base with compelling economics • Incorporates 40% of the 2018 Resource with 58% of Resources either Measured or Indicated • Preserving the larger Barber Resource Area f
Slide 18: DFS Resources
D FS R e s o u rc e s 2022 DFS limited to Ross & Kendrick Production Areas Commence Estimated Resources Estimated Production Project Area Production (lbs U3O8) (1) (lbs U3O8) (2) Ross Year 0 5,882,000 4,104,000 Kendrick Year 2 15,930,000 10,247,000 DFS Area Sub-Total 21,812,000 14,351,000 Barber R
Slide 19: Uranium Market Assumptions
Ura ni um M a r k et A s s u m p t i o n s TradeTech was Contracted to Generate the DFS Forward Market Price Model and Report • Nuclear power gaining momentum and support, as a critical part of the green energy mix • Provides high capacity-factor, carbon-free, base-load electricity • Small Modular
Slide 20: Next Steps At Lance
NEX T ST EPS AT L A N CE PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 20 INVESTOR PRESENTATION
Slide 21: Systematically Progressing Toward Restart FID
Sy s t e m a t i c a lly P ro g re s s i n g To wa rd R e s t a r t FID • INSTALL TRANSITION 6 MONTHS FACILITIES COMPLETE COMPLETE 2H2022 • URANIUM PRODUCTION (OLD FIELD AREAS) • DEVELOPMENT OF NEW AREAS TECHNICAL PROJECT EVALUATE FOR OPTIMISATION ECONOMICS FUNDING > 12 MONTHS PRODUCTION ACTIVIT
Slide 22: Aggressively Advancing Lance
A g g re s s i v e ly A d va n ci n g La n c e 2022 is a pivotal year, with key activities being completed and advanced ahead of FID 1. Definitive Feasibility Study completed • Impressive results re-affirm Lance as a globally competitive and significant long-life ISR operation 2. Peninsula Team now
Slide 23: Sales, Marketing And Inventory
S A LES , M A R K ETIN G A ND IN V EN TO R Y PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 23 INVESTOR PRESENTATION
Slide 24: Peninsula's Uranium Sales Contract Book
P e n i n s u l a ’ s Ura ni um S a l e s Co nt ra ct B o o k “A Key Differentiator” A junior uranium company with a track record of meeting delivery requirements since 2016 Current contracts in place for up to 4.8 Mlb at US$56-$58/lb U3O8, with major utilities in both the United States and Euro
Slide 25: Strategic Physical Uranium Inventory
St ra t e gi c P h y s i c a l Ura ni um In v e nto r y • Uncommitted physical inventory of 310,000 pounds of uranium concentrate • Enhances flexibility in meeting customer requirements • Opens the door for on-market transactions like sales to US Government • 300,000 pounds of uranium concentrate ac
Slide 26: A Compelling Uranium Proposition
A C O MPELLIN G UR A NIUM PR O P OSITIO N PENINSULA ENERGY ASX:PEN; OTCQB:PENMF 26 INVESTOR PRESENTATION
Slide 27: The Peninsula Advantage
T h e P e ni n s ul a A d va nt a g e Idled US uranium projects that are sufficiently advanced may have a unique opportunity to capture emerging US demand in a Western-focused nuclear fuel market Most uranium developers face significant staffing, technical, regulatory, operational and market-related
Slide 28: Contact Details
Co nt a ct D et a il s REGISTERED OFFICE Units 32/33, Level 3 22 Railway Road Subiaco, Western Australia 6008 Australia Phone: +61 8 9380 9920 www.pel.net.au info@pel.net.au FURTHER INFORMATION Wayne Heili Managing Director/CEO +1 (307) 467-9401 28
Slide 29: Appendix 1 – Resource Estimate
A p p e n di x 1 – R e s o urc e s Lance Projects Resource Estimate as at 31 December 20211 Tonnes Classification U3O8 (kg) Grade (ppm U3O8) U3O8 (lbs) (million) Measured 3.4 1.7 491 3.7 Indicated 11.1 5.5 496 12.1 Inferred 36.2 17.2 474 37.8 Total 50.7 24.3 480 53.7 1) JORC Table 1 included in an a