Boss Energy Limited · ASX:BOE
Boss Energy — FY2026 Earnings Presentation
44 slides from Boss Energy's earnings presentation, Aug 27, 2026
Slide 1: FY26 Results and New Feasibility Study Presentation
27 August 2026 FY26Resultsand New Feasibility StudyPresentation ASX: BOE A global multi-mine Uranium producer. bossenergy.com OTCQX: BQSSF
Slide 2: Disclaimer and Important Notices
Disclaimer and Important Notices This investor presentation (“Presentation”) has been prepared by Boss Energy Limited (ACN 116 834 336) (“Boss Energy” or “Company”). Boss makes no representations as to the accuracy or completeness of any forward-looking statements or projections or that any forecast
Slide 3: Boss Energy – Major Achievements
Boss Energy – Major Achievements 1 2 3 FY26 Financial New Feasibility FY27 Results Study Guidance Honeymoon NFS FY27 transition builds the Doubled revenue, foundations for recorded positive confirms continued Honeymoon’s production cashflow and economic uranium ramp-up and long-term strengthened our
Slide 4: FY26 Results
FY26 Results Boss Energy . A global multi-mine Uranium producer FY26 Results / Feasibility Presentation 4
Slide 5: FY26 Results: significant progress with a strong, debt-free balance sheet
A year of significant operational and technical progress, with a strong, debt-free balance sheet FY26 Results Sales Revenue Net Profit After Tax Uranium Inventory Reinvestment Balance Sheet $151.1M in sales $2.5M net profit after 1.581Mlbs of $65.9M invested at $207.3M in cash and revenue, doubled t
Slide 6: FY26 – Results Highlights
Net profit for the year while maintaining a strong balance sheet FY26 – Results Highlights FINANCIAL OPERATIONS Revenue Production FY26 $151 M FY26 1,407 klbs FY25 $76 M FY25 872 klbs Profit / (loss) after tax Realised price FY26 $3 M FY26 US$74 /lbs FY25 ($34 M) FY25 US$78 /lbs Operating cashflow C
Slide 7: FY2026 Financial Summary
Revenue doubled, a return to profit and a strong debt-free balance sheet FY2026 Financial Summary $000’s FY2026 FY2025 Profit & loss • Revenue doubled to $151.1 million on the sale of 1,400klbs of U₃O₈ at an Revenue 151,072 75,596 average realised price of $111/lb, delivering a net profit of $2.5 mi
Slide 8: New Feasibility Study (NFS)
New Feasibility Study (NFS) Boss Energy . A global multi-mine Uranium producer FY26 Results / Feasibility Presentation 8
Slide 9: Honeymoon NFS confirms economic production
World-class ISR capability, operating experience and advanced modelling underpin the pathway Honeymoon NFS confirms economic production Economic production Wider spacing lowers Favourable deposit Benchmarked World-class mine Capital-light facilities confirmed` costs characteristics globally planning
Slide 10: Wider-spaced wellfield design addresses the cost challenge
Honeymoon Review to NFS Pathway Wider-spaced wellfield design addresses the cost challenge 01 02 03 THE CHALLENGE1 THE COST RESET THE PATHWAY FORWARD The EFS design assumptions no Incremental savings could not Wider spacing changes the longer reflected the orebody unlock the lower-grade resource eco
Slide 11: The Honeymoon NFS Journey
Resource redefinition and the pathway to a wide-spaced wellfield design The Honeymoon NFS Journey PROBLEM IDENTIFIED HONEYMOON REVIEW NEW FEASIBILITY STUDY JUL 2025 S E P 2025 D E C 2025 Q1 C Y 26 Q2 C Y 26 Q3 C Y 26 Deviation flagged Review and drilling underway EFS withdrawn, new Resource and grow
Slide 12: Mineral Resource Estimate Update
Mineral Resource Estimate Update Boss Energy . A global multi-mine Uranium producer FY26 Results / Feasibility Presentation 12
Slide 13: Honeymoon Deposit Updated Mineral Resource Estimate
Mineral Resource Estimate Honeymoon Deposit Updated Mineral Resource Estimate Grade Metal Metal Resource Classification Mt 20.8 Mlbs U3O8 (ppm U3O8) (Kt U3O8) (Mlbs U3O8) Of metal at 440 ppm — 66% Indicated and 34% Inferred Indicated 12.1 510 6.2 13.7 Inferred 9.3 350 3.2 7.1 Change of cut-off to 10
Slide 14: Data rich environment
2026 Mineral Resource Estimate Data rich environment 86,670 additional metres 685 additional drillholes for 86,670 m of drilling within the MRE model area — a 34% increase in drill metres since 2019 97% rotary mud of the MRE dataset, with diamond core, sonic drilling completing the database Increase
Slide 15: Honeymoon Deposit Updated Mineral Resource
Mineral Resource Estimate Honeymoon Deposit Updated Mineral Resource 6-km strike length - mineralisation extends along the palaeovalley, up to 650 m wide, at depths of approximately 80 m to 120 m below surface. Continuous mineralisation - reaching thicknesses of up to 34 m at a 100-ppm U₃O₈ cut-off
Slide 16: Change against the 2019 Mineral Resource
2026 Mineral Resource Estimate Change against the 2019 Mineral Resource U₃O₈ Metal (Mlbs, depleted pre-2019) What has changed 2019 MRE 35.9 More drilling and data 716 holes for 90,651 m drilled since the 2019 MRE — a 34% increase in drill metres Add back depletion 2026 MRE 20.8 −42% −35% ISR permeab
Slide 17: Wellfields
Wellfields Boss Energy . A global multi-mine Uranium producer FY26 Results / Feasibility Presentation 17
Slide 18: Honeymoon Deposit Characteristics
Deposit characteristics that enable wide-spaced wellfield design Honeymoon Deposit Characteristics High permeability and Strong lateral Laterally extensive Favourable vertical Favourable mineralogy Effective confinement flow capacity hydraulic conductivity mineralisation continuity and hydraulic con
Slide 19: Advanced ISR Mine Planning
Advanced ISR Mine Planning RTM links the resource model directly to wellfield performance and the life-of-mine schedule A time-dependent, three-dimensional framework replaces generic recovery factors with wellfield-specific production responses. 3D RESOURCE RECOVERY Grade, thickness and uranium Timi
Slide 20: Wider-spaced wellfields are a more appropriate design
The wider-spaced wellfields are a more appropriate design based on the Honeymoon Deposit characteristics Preferred balance Rapid breakthrough; high development Sub-optimal intensity; Sub-optimal recovery Improved residence time & leaching efficiency Preferred balance with controlled operability Slow
Slide 21: Wider spacing lifts recovery and cuts development intensity
RTM quantifies the spacing trade-off Wider spacing lifts recovery and cuts development intensity The analysis tested spacing, geometry, flow and kinetics across the full planned wellfield inventory. 35 m 49 m 70 m HISTORICAL NFS BASE CASE LARGER SPACING Wells (injection and extraction) 2,480 Wells (
Slide 22: Benchmarked Against Global ISR Operations
Wider spacing, stronger well flow and lower acid demand than peer ISR operations Benchmarked Against Global ISR Operations Injector-to-extractor well spacing Extraction well flow average per extraction well, cubic metres per hour Honeymoon sits within the band adopted at large ISR operations globall
Slide 23: Wellfields plan
The wellfields have been planned on a well-by-well basis Wellfields plan ~13.8 Mlbs U₃O₈ drummed1 - life-of-mine production under the NFS base case, with output peaking at 1.9 Mlbs a year. Nine-year mine life - a continuous production profile running through to FY2035 (with 8 full years to FY2034),
Slide 24: Process Plant and Infrastructure
Process Plant and Infrastructure Boss Energy . A global multi-mine Uranium producer FY26 Results / Feasibility Presentation 24
Slide 25: Established Operation and Infrastructure
Plant and Supporting Infrastructure Established Operation and Infrastructure Existing infrastructure Full ongoing utilisation of existing processing plant, trunklines and other infrastructure Proven processing performance More than 2.3 Mlbs of drummed U₃O₈ produced since restarting in April 2024, de
Slide 26: Water Treatment Plant
Plant and Supporting Infrastructure Water Treatment Plant Key enabler of wellfield development Supplies RO permeate for wellfield conditioning and process use; capacity and availability set the rate new wellfields come online. Eight wellfields per year The life-of-mine plan assumes around eight new
Slide 27: Life-of-Mine Plan and Cost
Life-of-Mine Plan and Cost Boss Energy . A global multi-mine Uranium producer FY26 Results / Feasibility Presentation 27
Slide 28: Production schedule with capacity upgrades
Production schedule with the capacity upgrades that unlock each phase Supporting process facility upgrades to enable production increase Potential growth and / or LOM Extension Optimise ramp-up Steady State Including from Gould’s Dam and Jasons Deposit, which are not included FY2027–29 ramp-up, not
Slide 29: Operating Costs
Operating costs expected to reduce as production ramps up Operating Costs C1 Cash Cost (A$/lb U₃O₈ drummed, FY2027–FY2034)1 FY2027–29 reflects a transition period while water treatment is improved 40% 36% 15% 9% C1 average of $50/lb (to FY2034). Initial years of FY2027 to Reagents Labour & G&A Power
Slide 30: Most capital relates to wellfields
Disciplined capital spend while continuing to invest in ongoing production Most capital relates to wellfields Total capital by year, A$M 84% — Sustaining capital $M $/lb Wellfield development assumed to be spent in advance of wellfields coming online. Costs comprise approximately one 70 35 third eac
Slide 31: Wide-spacing materially improved unit economics of new wellfields
Wide-spacing has materially improved unit economics of new wellfields Benefits of wide spacing Comparison of historical vs NFS design EKT1 B7 / part of B9 Improvement 19 Wellfields B7 and B9 Sustaining capital $22/lbs A$/lbs 41 53% C1 Cost 46 $12/lbs A$/lbs 58 20% AISC 74 $34/lbs A$/lbs 107 31% Reve
Slide 32: Optimisation and Growth
Optimisation and Growth Boss Energy . Aglobal multi-mine Uranium producer FY26 Results / Feasibility Presentation 32
Slide 33: The NFS base case provides clear optimisation upside
Value enhancement beyond the NFS Base Case The NFS base case provides clear optimisation upside Given the accelerated timeframe and defined scope, four workstreams could further enhance value and accelerate the ramp-up. 01 02 03 04 WATER TREATMENT & USAGE WELLFIELD DELIVERY RECOVERY & REAGENTS PLANT
Slide 34: Growth Beyond Honeymoon
A combined 65.9Mlbs U₃O₈ across three deposits Growth Beyond Honeymoon 45 Mlbs U₃O₈1 of metal at Goulds Dam and Jasons, both considered highly prospective for ISR mining. Regional production hub leveraging Honeymoon’s existing processing plant, infrastructure and permitting framework. Capital-effici
Slide 35: FY27 Guidance
FY27 Guidance Boss Energy . Aglobal multi-mine Uranium producer FY26 Results / Feasibility Presentation 35
Slide 36: FY27 Guidance
Disciplined reinvestment in wellfields and processing capacity to support future growth FY27 Guidance • FY2027 is a transition year as Honeymoon moves from legacy wellfield FY2027 guidance Unit A$ US$ spacing to the wide-spaced design confirmed by the New Feasibility Study. Operations • Production o
Slide 37: Summary
Summary Boss Energy . Aglobal multi-mine Uranium producer FY26 Results / Feasibility Presentation 37
Slide 38: Exceptional team effort delivered a rigorous NFS at pace
Boss has a culture of collaboration and problem-solving Exceptional team effort delivered a rigorous NFS at pace Some of Our Technical Team on the NFS Some of Our Partners Matt Dusci Olivier Regnault CEO & MD Head of Technical Services and Planning • 25+ years across technical studies, project devel
Slide 39: Honeymoon NFS confirms a robust pathway forward
New Feasibility Study - Closing Summary Honeymoon NFS confirms a robust pathway forward Wider-spaced wellfields creates a lower-cost, capital-efficient life-of-mine plan underpinned by advanced ISR capability and established infrastructure. 13.8 Mlbs A$50 / A$79 A$48M planned U₃O₈ production C1 / AI
Slide 40: Our Priorities
Our Priorities Deliver the base case, optimise performance and build the platform for growth DELIVER THE PRODUCTION UNLOCKING REGIONAL 01 02 OPTIMISE PERFORMANCE 03 PLATFORM GROWTH Accelerate ramp-up, increase production, Establish Gould’s Dam and Jasons as low- Safely establish the wide-spaced oper
Slide 41: Positioned to Deliver Shareholder Value
Key concluding points Positioned to Deliver Shareholder Value Boss combines operating production, financial strength, advanced ISR capability and a portfolio of growth opportunities with increasing exposure to rising global uranium demand. Established uranium Clear pathway at Honeymoon Strong financ
Slide 42: Appendices
Appendices Boss Energy . Aglobal multi-mine Uranium producer FY26 Results / Feasibility Presentation 42
Slide 43: Gould's Dam and Jasons Deposit Mineral Resource (March 2026)
Appendix 1 - Gould’s Dam and Jasons Deposit Mineral Resource (March 2026) Table 1: Gould’s Dam Mineral Resource (March 2026)) Table 2: Jasons Deposit Mineral Resource (March 2026) Grade Metal Grade Metal Resource Classification ppm Mlbs Resource Classification ppm Mlbs Mt Kt U3O8 Mt Kt U3O8 U3O8 U3O
Slide 44: Contact Information
Contact Information +61 (8) 6263 4494 boss@bossenergy.com ASX: BOE | OTCQX: BQSSF ASX: BOE OTCQX: BQSSF