Slide 1: Equity Raising Presentation
Building a Global Uranium Company Strongly Placed and Perfectly Timed Equity Raising Presentation John Borshoff – Managing Director/CEO 11 March 2024 DYL: ASX / NSX (Namibia) DYLLF: OCTQX Not for release to US wire services or distribution in the United States www.deepyellow.com.au
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Deep Yellow Limited contained in the presentation. No responsibility or liability is Forward Looking Statements ABN 97 006 391 948 (Company or Deep Yellow) for general assumed by the Company or their respective subsidiaries, This presentation contain
Slide 3: Disclaimer (continued)
Disclaimer (continued) This list is not exhaustive of the factors that may affect the Namibia are extracted from the Company’s announcements to underpinning the estimates in the relevant market Company’s forward-looking information. These and other ASX dated 29 July 2021 ‘Drilling at Tumas 3 Deliver
Slide 4: Equity Raising Overview
01 Equity Raising Overview www.deepyellow.com.au
Slide 5: Equity Raising Overview
Equity Raising Overview Page 1 of 2 • A$250 million equity raising comprising of: • A$220 million placement (Placement) in two tranches: • Tranche 1 to raise approximately A$140.5M using the Company’s Listing Rule 7.1 placement OFFER STRUCTURE capacity (Tranche 1). AND SIZE • Tranche 2 to raise appr
Slide 6: Use of Funds
Use of Funds Use of Funds1 A$M Funds raised will be utilised: Tumas Development Capital 220 • To advance development of the flagship Mulga Rock Project 5 Tumas Project (Namibia), including the commencement of construction post-Final Exploration 5 Investment Decision (FID), which is expected to Worki
Slide 7: Indicative Timetable
Indicative Timetable Key Event Indicative Date SPP Record Date 7.00pm AEST Friday, 8 March 2024 Announcement of Placement and SPP Monday, 11 March 2024 Trading Halt lifted Settlement of Tranche 1 Placement Thursday, 14 March 2024 Allotment of Tranche 1 Placement Shares Friday, 15 March 2024 Dispatch
Slide 8: Deep Yellow – Well Positioned
02 Deep Yellow – Well Positioned www.deepyellow.com.au
Slide 9: Global Uranium Sector Market Cap Recovery (2011-2024)
Global Uranium Sector Market Cap Recovery (2011-2024) - Fukushima: Heavy Impact on Supply Sector Combined Market Cap: Top 20 Listed Uranium Companies (US$ bn)(1) Total Market Value with Annual Uranium Spot Price Post-Fukushima: Sector Turnaround Underway Recent Spot Price ranging US$95-US$106/lb 50
Slide 10: Capital Structure – ASX300 Company - Performance FY23/Early FY24
Capital Structure – ASX300 Company - Performance FY23/Early FY24 1.80 120 Market Cap Range A$450M - A$1.06B 1.60 FY23 FY24 1.40 - 100 1.20 80 A$/Share1 1.00 60 0.80 0.60 Tumas Re-costed DFS 40 December 2023 0.40 Vimy Merger 20 Completion August 2022 Tumas DFS Completion 0.20 February 2023 Share Pric
Slide 11: Best Positioned Uranium Mid-Cap Company Globally
Best Positioned Uranium Mid-Cap Company Globally Deep Yellow has global diversity, which is seen as a necessity by off-takers, with long-life projects located in two Tier-1 mining jurisdictions Significant production capability - once in production, Deep Yellow will be the largest pure-play uranium
Slide 12: Uranium is Critical for a Clean Energy Future
03 Uranium is Critical for a Clean Energy Future www.deepyellow.com.au
Slide 13: Demand - Governments Pivoting Increasingly Towards Nuclear
Demand - Governments Pivoting Increasingly Towards Nuclear Increasing Inability for Global footprint Never such a top-down global concern renewables to expanding with ever- resurgence since the for energy deliver increasing number of 1970s oil shock security governments turning to nuclear power • Ea
Slide 14: Supply Under Major Pressure - Uranium Price Primed for Recovery
Supply Under Major Pressure - Uranium Price Primed for Recovery Degradation of Limited Long period of stagnation Exposes huge challenges to uranium supply greenfield creating concerns industry meet newPage demand 1 of 2 even industry over developments unable to respond to future with a major uranium
Slide 15: Nuclear Fuel Cycle Under Severe Pressure - Greenfield projects needed!
Nuclear Fuel Cycle Under Severe Pressure - Greenfield projects needed! • Increasing demand for conversion and enrichment services causing extraordinary price increases SWU trading at a 10-year high – US$155/SWU Fabrication • Inevitable pricing pressure is moving uranium price, as high demand works d
Slide 16: Strong Team and Well-Positioned for Further Growth
04 Strong Team and Well-Positioned for Further Growth www.deepyellow.com.au
Slide 17: Best-in-Class Board and Team
Best-in-Class Board and Team Executive Leadership Team Chris Salisbury** Non-Executive Chairman A HIGHLY EXPERIENCED TEAM WITH A PROVEN TRACK John Borshoff* Page 1 of 2 CEO / MD RECORD Gillian Swaby * Executive Director • Proven and successful track record of exploring, Victoria Jackson Non-Executiv
Slide 18: Globally Diversified with Two Advanced, Long-Life Projects
Globally Diversified with Two Advanced, Long-Life Projects • Project portfolio provides diversity by asset, stage of Advanced-stage development and geographic location Early-stage to continue organic pipeline • Largest uranium resource base of any Omahola Alligator River ASX-listed company Namibia N
Slide 19: Diversified and Advanced Project Pipeline
05 Diversified and Advanced Project Pipeline www.deepyellow.com.au
Slide 20: Flagship Tumas Project, Namibia - Overview
Flagship Tumas Project, Namibia - Overview • Uranium and mining friendly jurisdiction. 20–year Mining Licence granted, effective September 2023 Page 1 of 2 • Allows the Project to progress towards production, establishing Tumas as the 4th uranium mine in Namibia • Ore Reserves of 67.3Mlb increased b
Slide 21: Tumas Project Analysis (US$), Re-Costed December ‘23
Tumas Project Analysis (US$), Re-Costed December ‘23 Project Financials (Ungeared): Real 3 Unit 75/lb 81/lb1 90/lb Key Commentary2 Project operating life Years 22 22 22 • Head grade of 340ppm U3O8 Produced Mlb 64 64 64 U3O8 (av) Gross revenue: total $M 4,950 5,314 5,908 • Annual production (max) Ope
Slide 22: Mulga Rock Project, Western Australia – 100% DYL
Mulga Rock Project, Western Australia – 100% DYL • Project acquired through Vimy Resources Page 1 of 2 merger in August 2022 • Located in the Tier-1 mining jurisdiction of Western Australia, with granted Mining Leases • Globally significant Mineral Resource of 115.1Mt @ 410ppm for 104.8Mlb U3O8, pos
Slide 23: Mulga Rock East – Strong Resource Upgrade
Mulga Rock East – Strong Resource Upgrade • Extensive resource/reserve upgrade and ore variability Page 1 of 2 drilling programs completed August 2023 Princess • Significant uranium, critical minerals (Cu, Ni, Co, Zn) and magnetic rare earth elements (notably Nd/Tb/Dy/Pr) resources identified Ambass
Slide 24: Exceptional Exploration Upside
Exceptional Exploration Upside ALLIGATOR RIVER PROJECT, NORTHERN TERRITORY - 100% OMAHOLA BASEMENT PROJECT, NAMIBIA - 100% Page 1 of 2 • Located in the world-class uranium province of Alligator • Measured, Indicated and Inferred Resource base of 125Mlb River, which hosts some of the highest-grade ur
Slide 25: Looking Ahead - A Differentiated Company
06 Looking Ahead - A Differentiated Company www.deepyellow.com.au
Slide 26: Two Substantial, Advanced Uranium Projects to Produce +7Mlb
Two Substantial, Advanced Uranium Projects to Produce +7Mlb Page 1 of 2 Initial Investment Production Mulga Rock Project 1 Tumas Project 2028 3.5 3.5 2026 2.0 3.0 3.6 3.6 3.6 1.5 Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Tumas − 22.25YR LOM Mul
Slide 27: Key Workstreams and Anticipated Timing
Key Workstreams and Anticipated Timing Page 1 of 2 TUMAS PROJECT MULGA ROCK ALLIGATOR RIVER M&A • Mid 2024 – 6-year Proven • 26 Feb 2024 – Strong • Q2 2024 - Desktop • Ongoing - Continued focus Reserve drill-out and results from new resource prospectivity appraisal to on accretive consolidation reso
Slide 28: Best Positioned Pure-Play Uranium Investment
Best Positioned Pure-Play Uranium Investment Page 1 of 2 Deep Yellow is successfully establishing the right platform at the right time Uranium market backdrop creates exceptional opportunities in the post- Fukushima supply reconstruction era and taking advantage of a bifurcated market Experienced Bo
Slide 29: Appendices
07 Appendices www.deepyellow.com.au
Slide 30: Appendix 1(a) Namibian Mineral Resources
Appendix 1(a) Namibian Mineral Resources Notes: • Figures have been rounded and totals may reflect small rounding errors. • XRF chemical analysis unless annotated otherwise. • # Combined XRF Fusion Chemical Assays and eU3O8 values. • eU3O8 - equivalent uranium grade as determined by downhole gamma l
Slide 31: Appendix 1(b) Australian Mineral Resources
Appendix 1(b) Australian Mineral Resources Notes: • Figures have been rounded and totals may reflect small rounding errors. • XRF chemical analysis unless annotated otherwise. • eU3O8 - equivalent uranium grade as determined by downhole gamma logging. • # Combined XRF Fusion Chemical Assays and eU3O
Slide 32: Appendix 1(c) Ore Reserves
Appendix 1(c) Ore Reserves Notes: Figures may not add due to rounding. 1 ASX Release 2 Feb 2023 ‘Strong Results From Tumas Definitive Feasibility Study’ and ASX Release 12 Dec 2023 ‘DFS Review Strengthens Tumas Project’s Flagship Status as a Long-Life, World-Class Uranium Operation’. 2 ASX Release 4
Slide 33: Appendix 2 - Foreign Offer Restrictions
Appendix 2 - Foreign Offer Restrictions This presentation does not constitute an offer of New Shares in any jurisdiction in which it would be unlawful. In particular, this presentation may not be distributed to any person, and the New Shares may not be offered or sold, in any country outside Austral
Slide 34: Appendix 2 - Foreign Offer Restrictions (continued)
Appendix 2 - Foreign Offer Restrictions (continued) Page 1 of 2 European Union (excluding Austria) This document has not been, and will not be, registered with or approved by any securities regulator in the European Union. Accordingly, this document may not be made available, nor may the New Shares
Slide 35: Appendix 2 - Foreign Offer Restrictions (continued)
Appendix 2 - Foreign Offer Restrictions (continued) Page 1 of 2 New Zealand This document has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (New Zealand) (the FMC Act). The New Shares are not being offered or sold in
Slide 36: Appendix 2 - Foreign Offer Restrictions (continued)
Appendix 2 - Foreign Offer Restrictions (continued) Page 1 of 2 Switzerland The New Shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange or on any other stock exchange or regulated trading facility in Switzerland. Neither this document nor any other offe
Slide 37: Appendix 2 - Foreign Offer Restrictions (continued)
Appendix 2 - Foreign Offer Restrictions (continued) Page 1 of 2 United Kingdom Neither this document nor any other document relating to the offer has been delivered for approval to the Financial Conduct Authority in the United Kingdom and no prospectus (within the meaning of section 85 of the Financ
Slide 38: Appendix 3 - Uranium Equivalents
Appendix 3 - Uranium Equivalents (refer Mulga Rock East slide 23) U3O8Eq grades are calculated as follows: Page 1 of 2 U3O8Eq = U3O8 + 0.093xCo + 0.028xCu + 0.074xNi + 0.118xREO + 0.009xZn • Those factors were calculated using the assumptions presented in the table below and, based on testwork compl
Slide 39: Appendix - Key Risks
Appendix 4 - Key Risks Page 1 of 2 Deep Yellow is an exploration company, with the aim of developing uranium mining operations for the sale of uranium oxide via customer sales agreements. The price of uranium is determined by an independent market and outside of the Company’s control. Movements in t
Slide 40: Appendix - Key Risks (continued)
Appendix 4 - Key Risks (continued) Page 1 of 2 Exploration and development of the various mineral properties in which Deep Yellow holds interests depends on Deep Yellow’s ability to obtain funding. The Company does not have adequate funding available to develop the Tumas Project or the Mulga Rock Pr
Slide 41: Appendix - Key Risks (continued)
Appendix 4 - Key Risks (continued) Page 1 of 2 Deep Yellow strives to conduct its activities to the highest standard of work health and safety. Work health and safety, whilst always a risk, is at the forefront of operational focus to ensure it remains a top priority in all areas of the Health and bu
Slide 42: Appendix - Key Risks (continued)
Appendix 4 - Key Risks (continued) Page 1 of 2 All tenements in which Deep Yellow has an interest are subject to renewal conditions or are yet to be granted, which will all be at the discretion of the relevant Ministries in Namibia, Western Australia and the Northern Territory. The maintenance of te
Slide 43: Appendix - Key Risks (continued)
Appendix 4 - Key Risks (continued) Page 1 of 2 Deep Yellow is subject to litigation risks. Deep Yellow may be subject to legal action, where the action may be with or without merit. Defence and settlement costs of legal claims can be substantial, even where the claims have no merit. Litigation Due t
Slide 44: Appendix - Key Risks (continued)
Appendix 4 - Key Risks (continued) Page 1 of 2 The Placement is being undertaken in two tranches. The second tranche is subject to shareholder approval. There is a risk that the second tranche will not be able to proceed if the required shareholder approval is not obtained. There is also a risk that
Slide 45: For further information
For further information: T: +61 8 9286 6999 E: info@deepyellow.com.au W: www.deepyellow.com.au : @deepyellowltd : deep-yellow-limited 45