Peninsula Energy Limited · ASX:PEN
Peninsula Energy — Resources Rising Stars Summer Series Conferences 2026
35 slides from Peninsula Energy's conference presentation, Feb 10, 2026
Slide 1: Peninsula Energy to present at RRS Summer Series Conference, February 2026
ASX ANNOUNCEMENT (ASX: PEN) 10 February 2026 Peninsula Energy to present at RRS Summer Series Conference, February 2026 Peninsula Energy Limited (“Peninsula” or “the Company”) (ASX: PEN, OTCID: PENMF) advises that its Managing Director/CEO, Mr George Bauk, will be presenting at the Resources Rising
Slide 2: Reset for Sustainable Uranium Production
RESET FOR SUSTAINABLE URANIUM PRODUCTION Positioned to become a meaningful domestic uranium supplier in the USA at a time of accelerating demand PEL.NET.AU | Resources Rising Stars Investor Conferences, 10-12 February 2026 ASX: PEN OTCID: PENMF
Slide 3: Important Disclosures and Disclaimers
Important Disclosures and Disclaimers Summary The Company believes it has a reasonable basis for providing the forward-looking statements and production targets included in this Presentation. This Presentation contains summary information about the current activities of Peninsula Energy Limited (the
Slide 4: Important Disclosures and Disclaimers
Important Disclosures and Disclaimers Production Target Given the uncertainties involved, investors should not make any investment decision based solely on this Presentation. The production target contained in this Presentation is underpinned by wellfield designs containing measured and indicated Di
Slide 5: Investment Highlights
Investment Highlights EXECUTING A PRODUCTION RESET FOR A SUSTAINABLE FUTURE US-based uranium producer with Lance Project hosts the largest Fully licensed ISR operation first dried yellowcake produced at the uranium resource in Wyoming with a commissioned Central Lance Uranium Project in Wyoming in (
Slide 6: Corporate Overview
Corporate Overview Shares on Issue1 Share Price1 Market Cap1 Cash2 Debt2 407.6M US$0.47 US$191.2M US$31.8M US$12.6M (A$0.67) (A$273.1M) Share Price ($A) Share Register with Strong International Institutional & Strategic Presence2 1.20 Australia 24.3% Institutional 32.6% 0.84 1.00 United Kingdom 47.4
Slide 7: Refreshed Board and Executive Leadership
Refreshed Board and Executive Leadership Mr George Bauk Mr David Coyne Mr Keith Bowes Ms Tejal Magan Managing Director / CEO Non-Executive Chairman Non-Executive Director Non-Executive Director Mr Bauk has over 30 years of global Mr Coyne has over 30 years of global Mr Bowes, BSc (Chemical Engineeri
Slide 8: Site Leadership Team – Deep In-Country ISR Experience
Site Leadership Team – Deep In-Country ISR Experience Mr David Hofeling Mr Ken Milmine GM Operations VP OH&S, Approvals Mr Hofeling has over 30 years’ experience in operational management and Mr Milmine has almost 30 years of regulatory, environmental, health and safety finance specific to the minin
Slide 9: The Top Uranium Jurisdiction in the USA
The Top Uranium Jurisdiction in the USA LANCE IS STRATEGICALLY POSITIONED TO BECOME A CORNERSTONE URANIUM PRODUCER TO CLOSE THE URANIUM SUPPLY GAP Wyoming, USA Lance Project Central Processing Plant, fully licensed for production up to 3Mlbs U3O8 p.a. 8
Slide 10: Key Asset – Lance Uranium Project, USA
Key Asset – Lance Uranium Project, USA • Location: Powder River Basin, Wyoming – premier US ISR jurisdiction • Ownership: 100% Peninsula Energy (via 100% owned US subsidiary Strata Energy Inc.) • Mining Method: In-Situ Recovery (low-pH) • Status: Ramping up production 9
Slide 11: Lance – Strong Fundamentals, Significant Potential
Lance – Strong Fundamentals, Significant Potential • 58Mlbs U3O8 of JORC (2012) Lance Resources Globally significant resource & largest in Wyoming • Initial focus on Ross Production Area Comprising Mine Units 1-4 (MU 1-4), with estimated remaining resources of 6.4Mlbs of U3O8 • Production Reset Plan
Slide 12: ISR Mining – Low-Cost, Scalable Production
ISR Mining – Low-Cost, Scalable Production Underground extraction using wells, not open pits or tunnels • Proven ISR mining method widely used in Wyoming. 52% of global uranium production from ISR mining in CY2024 (World Nuclear Association – World Uranium Mining Production) • Low capital intensity
Slide 13: Central Processing Plant – A Major De-Risking Milestone
Central Processing Plant – A Major De-Risking Milestone The CPP provides operational independence and scalability • US$79m invested: Fully constructed and licensed CPP including Phase 1 • Nameplate capacity: 2Mlbs per annum of dry yellowcake • Licensed capacity: Up to 3Mlbs per annum • Commissioning
Slide 14: An Unfolding Turnaround Story
An Unfolding Turnaround Story New MD Suspension Regulatory Key personnel US$15m $70m equity New NED’s Key operational appointed from ASX approval for changes, debt facility raise appointed to milestone at Kendrick sales secured the PEN board Mine Unit 4 contracts terminated Dec Apr May Jun Jul Aug S
Slide 15: Production Reset Plan
Production Reset Plan 14
Slide 16: Transitioning from Commissioning to Commercial Production
Transitioning from Commissioning to Commercial Production • First dried yellowcake produced in September 2025 Significant milestone on commissioning pathway • Comprehensive review by new leadership Full re-evaluation of near-term production schedule, wellfield development, CAPEX & OPEX completed • A
Slide 17: Wellfield Development Strategy
Wellfield Development Strategy Progress Update • 8 drill rigs working to develop new Mining Unit-4 (MU-4), 50% complete • MU-3 and MU-4 are the first wellfields at Lance specifically designed for the low-pH in-situ recovery method • MU-4 HH-14 and 16 completed and acidification commenced • MU-4 HH-1
Slide 18: Production Ramp-Up Pathway
Production Ramp-Up Pathway Transitioning from commissioning to sustainable commercial production Commissioning Horizon 3 Operations CY2025 Full Scale Production Focus on acidification of wellfields Ramp-Up Horizon 2 Ramp-Up 400,000 – 600,000lbs pa 400,000 – 600,000lbs pa Production CY2026 & CY2027 F
Slide 19: Funding & Off-take Position
Funding & Off-take Position Production to Cash1 Debt1 ~0.6Mlbs p.a. fully funded ~US$31.8M ~US$12.6M Fully leveraged to capitalise on spot price over next two years with no commitments in place One contract in place for 600,000lbs • 100,000lbs per annum 2028 – 2033 (post ramp-up) • Blend of base pri
Slide 20: Future Growth
Future Growth 19
Slide 21: Lance – Already Very Large, But Still Lots of Potential to Grow
Lance – Already Very Large, But Still Lots of Potential to Grow Largest known ISR project in Wyoming, USA Permit Area Tonnage (Mt) Grade (ppm U3O8) U3O8 million lbs Exploration Target of 104 – 163 Mlbs U3O8 based on a combination Ross Measured 1.5 510 1.7 of past exploration results and proposed exp
Slide 22: Regional and Satellite Growth Pipeline
Regional and Satellite Growth Pipeline Kendrick • Fully-permitted • Next sequential development area • Optimisation studies underway Barber • Large, under-delineated inferred resource • Potential future satellite operation Dagger • Higher-grade resource (6.9Mlbs @ 1,037ppm) • Satellite ISR opportuni
Slide 23: Kendrick Development Project
Kendrick Development Project Kendrick is the next sequential production area following production at the Ross Area Project Area is fully permitted to commence mining operations, with all approvals received from Wyoming Department of Environmental Quality (WDEQ) and EPA Project Area spans approximate
Slide 24: The Strategic Context
PENINSULA, ENERGY Ze) The Strategic Context
Slide 25: USA – A Premier Address for Uranium Production
USA – A Premier Address for Uranium Production Right place, Right time to be a domestic US uranium producer… • Mature, stable domestic nuclear market • Current reactor fleet of 94-gigawatt large scale reactors consume ~50Mlbs of uranium per annum • Less than 10% of uranium consumed in the US is dome
Slide 26: Uranium – A key to US energy security
Uranium – A key to US energy security • US annual demand 50Mlbs vs 1Mlbs domestic production • From 2020-2024, the US imported 94% of its yellowcake – including 67Mlbs 1Mlbs 45% from Russia, Kazakhstan and Uzbekistan Future by 2035 • Q4 2024 saw the highest US uranium concentrate production in six y
Slide 27: Uranium – A key to US energy security
Uranium – A key to US energy security US boosting the Domestic Supply Chain • Uranium added to Critical Minerals List – Department of Energy has in October 2025 added Uranium to the Critical Minerals list • US ban on Russian sourced uranium – unlocked US$2.72 billion of Department of Energy funding
Slide 28: Summary
PENINSULA, ENERGY. “ Summary
Slide 29: Summary – Why Peninsula Re-rates
Summary – Why Peninsula Re-rates ✓Exposure to scarce domestic US uranium production ✓Transition from alkaline ISR production to industry leading low pH ISR production ✓Clear pathway to growing production ✓Uncontracted uranium leveraged to strong pricing ✓Strong policy and energy security tailwinds P
Slide 30: Key Investment Takeaways
Key Investment Takeaways ASX-listed uranium Globally significant resource Fully constructed Central Processing producer with established of 58Mlbs1 at Lance with Plant currently in commissioning, operations in USA exploration upside plus with nameplate capacity to produce 6.9Mlbs at Dagger 2Mlbs p.a
Slide 31: Appendices
Appendices 30
Slide 32: Appendix – Resources
Appendix 1 – Resources Lance Project Resource Estimate as at 31 December 20231 U3O8 Metal Classification Tonnes (million) Grade (ppm U3O8) (Mlbs) Measured 3.3 510 3.8 Indicated 11.0 510 12.4 Inferred 38.3 490 41.7 Total 52.6 500 58 Dagger Resource Estimate as at 23 October 20232 U3O8 Metal Classific
Slide 33: Appendix – Lance Exploration Project (Additional Disclosure)
Appendix 2 – Lance Exploration Project (Additional Disclosure) Exploration Target1 The Lance Project covers a significant proportion of the Powder River Basin. Cretaceous sandstones of Wyoming, which are believed to represent an Exploration Target of between 104Mlbs and 163Mlbs eU3O8 Lance Project E
Slide 34: Appendix – Resource references
Appendix 3 – Resource references Measured MLBS Measured Grade Indicated MLBS Inferred Grade Inferred MLBS Inferred Grade Source Cameco North Butte - Brown Ranch 1.1 0.08 8.4 0.07 0.4 0.07 Smith Ranch-Highland 7.9 0.1 0.05 17 7.7 0.05 https://www.cameco.com/sites/default/files/documents/202 2024 mine
Slide 35: Contact
CONTACT Email info@pel.net.au Phone +61 8 9380 9920 ASX: PEN OTCID: PENMF 34
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