Bannerman Energy Ltd · ASX:BMN
Bannerman Energy — Global Uranium Conference 2025
24 slides from Bannerman Energy's conference presentation, Oct 21, 2025
Slide 1: Global Uranium Conference 2025 Presentation
ASX ANNOUNCEMENT 21 October 2025 Global Uranium Conference 2025 Presentation Bannerman Energy Ltd (ASX:BMN, OTCQX:BNNLF, NSX:BMN) (Bannerman or the Company) is pleased to release a copy of the presentation to be provided by Mr Brandon Munro to delegates at the Global Uranium Conference being held fr
Slide 2: Discipline and Flexibility Driving Long Term Value
For personal use only Discipline and Flexibility Driving Long Term Value: Stage Gate Execution of the Etango Uranium Project GLOBAL URANIUM CONFERENCE, 21 OCTOBER 2025 ASX:BMN, OTCQX:BNNLF AND NSX:BMN
Slide 3: Cautionary Statement
CAUTIONARY STATEMENT Important notices Of the Mineral Resources scheduled for extraction and recovery in the Etango-8 Definitive Feasibility Study (DFS) and Etango-XP / XT Scoping Study (Scoping Study), 100% are classified as Measured or Indicated. Bannerman Energy Ltd (Bannerman, the Company) confi
Slide 4: Forward Looking and Competent Person Statements
FORWARD LOOKING AND COMPETENT PERSON STATEMENTS Important notices Forward Looking Statements Competent Person Statement This presentation includes various forward looking statements which are identified by the use of forward looking words such as Mineral Resources For personal use only “may”, “could
Slide 5: The leading greenfield uranium proponent
ABOUT BANNERMAN ENERGY The leading greenfield uranium proponent For personal use only Our flagship Etango Project is one of the world’s largest, most advanced uranium development assets. Scale and scalability initial production of 3.5Mlbs pa, expandable to 6.7Mlbs pa, from 225Mlbs U3O8 Resource* Ben
Slide 6: Licence to operate in Namibia, a stable, highly established uranium jurisdiction
ABOUT BANNERMAN ENERGY Licence to operate in Namibia, a stable, highly established uranium For personal use only jurisdiction Recognised tier-one supplier to global utilities Rossing 45-years of uranium production and export Husab Etango Langer Heinrich Three large-scale uranium mines; Top 3 global
Slide 7: Large-scale, long-life, technically simple
ABOUT ETANGO Large-scale, long-life, technically simple For personal use only Site layout from Crushing & Screening to Heap Leaching. 6
Slide 8: Etango-8 a strong technical and commercially viable project
ABOUT ETANGO Etango-8 a strong technical 15 years 113.5 Mt Initial mine life Total ore throughput and commercially viable For personal use only project 8 Mtpa 240 ppm • Conventional open pit mining and heap leach Throughput capacity Average U3O8 head grade processing at 8Mtpa throughput • Informed b
Slide 9: Proven management team with deep in-country and uranium operating experience
ABOUT ETANGO Proven management team with deep in-country and uranium operating experience For personal use only Gavin Chamberlain | Chief Executive Officer Melvin Yeo | Chief Legal Counsel • 30+ years in project development/construction & contracting • 25+ years’ experience in various legal roles •
Slide 10: The Etango Processing Flow Sheet, de-risked through Heap Leach Demonstration Plant
ABOUT ETANGO The Etango Processing Flow Sheet, de-risked through operation of the For personal use only Heap Leach Demonstration Plant The Etango Heap Leach Demonstration Plant has been operational since 2018. 9
Slide 11: Etango Uranium Project designed for expansion and longevity
ABOUT ETANGO Etango Uranium Project designed NORTH PIT for expansion and longevity For personal use only PRIMARY CRUSHING Etango-XP design CRUSHING & SOUTH PIT shown in red SCREENING AGGLOMMERATION HEAP LEACHING SATELLITE PIT PROCESSING PLANT RIPIOS DUMP 10
Slide 12: Expanding Contractor Workforce
ABOUT ETANGO Expanding Contractor Workforce For personal use only NAMIBIA 14 Swakopmund Etango Uranium 297* Project Johannesburg SOUTH 62* AFRICA 1 Cape Town * Contractors
Slide 13: Etango LTI-free for years
ABOUT ETANGO Etango LTI-free for 16 years For personal use only Bannerman Mining Resources Namibia celebrating onsite at Etango the achievement of 16 years LTI-free. 12
Slide 14: Roadmap to production
PROXIMATE, LOW RISK, LONG TERM, EXPANDABLE, SOCIALLY RESPONSIBLE Roadmap to production Contracting Development Offtake Preliminary offtake discussions Initial offtake executed For personal use only Production ❑ Further offtake contracts signed Expansion Ongoing contract portfolio optimisation Financ
Slide 15: Key contracts continuing to advance Etango
WHAT’S NEXT Key contracts continuing to advance Etango For personal use only 2024 2025 2026 2027 2028 CONSTRUCTION MGMT DETAILED DESIGN SITE ACCESS ROAD CONSTRUCTION WATER CONSTRUCTION POWER BULK EARTHWORKS HL DRAINAGE AGGREGATE CONCRETE PHASE 1 PERMANENT WATER PHASE 1 14
Slide 16: Our stage gate approach to project execution
THE STRATEGY Our stage gate approach to project execution. Multiple development pathways for different market scenarios For personal use only Assess timing benefits, cost stability vs. cash balance Contract commitment - secure price by issuing entire contract Stage gated phases control capital expen
Slide 17: Financial discipline and expenditure controls
THE STRATEGY Financial discipline and expenditure controls (A$ Million) 140 For personal use only 120 100 80 60 40 20 0 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Cash and liquid assets Early works commitments Early works expenditure Corporate and admin (net of interest) *Cash, liquid assets and commit
Slide 18: Excavation of heap leach ponds has commenced
ETANGO SITE PROGRESS Excavation of heap leach ponds has commenced For personal use only Setting out of the heap leach pad area is complete, enabling excavation to commence. Blasting and crushing contract for the heap leach drainage material placed and contractor currently on-boarding and establishin
Slide 19: Live power now on site
ETANGO SITE PROGRESS Live power now on site For personal use only Construction power facilities has been completed and the 33kV reticulation has been commissioned. The first three mini sub-stations have been installed and commissioned. 18
Slide 20: Primary crusher site ready for Phase 1 concrete works
ETANGO SITE PROGRESS Primary crusher site ready for Phase 1 concrete works to begin For personal use only The Phase 1 concrete contract has been placed for the construction of the primary crusher structure. Inset: 3D model of primary crushing building and retaining wall. 19
Slide 21: HPGR tertiary crusher Factory Acceptance Test completed
ETANGO SITE PROGRESS Factory Acceptance Test of High Pressure Grinding Rolls (HPGR) tertiary crusher successfully completed. For personal use only Blasting of the stockpile tunnel and terracing for the secondary and tertiary crushers has been completed. Inset: 3D model of secondary and tertiary scre
Slide 22: Contact Details
CONTACT DETAILS Brandon Munro For personal use only Executive Chairman Emma Culver Investor Relations and Communications Manager Phone: +61 8 9381 1436 Email: info@bmnenergy.com @BannermanEnergy @Brandon_Munro 21
Slide 23: One of the world's largest, most advanced uranium development assets
APPENDIX One of the world’s largest, Mineral Resource Estimate (55ppm U3O8 cut-off)1,3 Tonnes Grade Contained most advanced uranium Resource category For personal use only (Mt) (ppm U3O8) U3O8 (Mlb) Measured 32.4 201 14.3 development assets Indicated 345.7 195 148.5 Inferred 140.6 200 62.0 Total 518
Slide 24: Etango-8 DFS and Etango-XP / XT Scoping Study
APPENDIX Etango-8 DFS and Etango-XP / XT Scoping Study Incorporating completion of the Front-End Engineering and Design (FEED) and Control Budget Estimate (CBE) processes Key Metrics Unit Etango-8 Etango-XP (second phase to 16 mtpa) Etango-XT (extended life at 8Mtpa) For personal use only Physicals