• Contracted volumes double to more than 10 million pounds.
• Market related pricing mechanisms providing the most significant leverage to future prices at time of delivery.
• Ongoing negotiations with multiple entities for additional offtake contracts.

NexGen Energy Ltd. (TSX: NXE) (NYSE: NXE) (ASX: NXG)  is pleased to announce it has secured a new uranium offtake contract with another major US based utility for the delivery of 1 million pounds of uranium per year over a five-year period. Commencing in the first year of commercial production, this latest uranium sales agreement follows the Company’s first sales contracts announced in December 2024 (link NR December 4, 2024). This contract reflects the significant materiality of NexGen’s Rook I Project in the future supply of uranium at a time when sovereign and technical risk surrounding current production sources is at unprecedented levels worldwide.

This contract doubles NexGen’s existing contracted volumes incorporating significant leverage to the future pricing of uranium. In addition, NexGen’s Arrow Deposit currently has 229.6M lbs of uncontracted reserves to be sold optimally in the future.

Market-related pricing mechanisms at the time of delivery is a key element of NexGen’s offtake strategy.

Leigh Curyer, Founder & Chief Executive Officer, commented: “NexGen’s stated strategy simply optimizes the value and return on each pound produced. It reflects Rook I’s relative technical simplicity and high production volume certainty, which provides our utility clients confidence in the delivery of their future fuel requirements. At the same time, it provides NexGen shareholders unprecedented industry leading leverage to prices at the time of those deliveries.

The team is managing a substantial increase in offtake activity and negotiation, reflecting NexGen as a future cornerstone of the global nuclear energy market.

In an era defined by the intersection of energy security and national security combined with surging demand for electrification, NexGen’s role in enhancing energy security and independence for its power utility clients has never been more critical.”

About NexGen

NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future. The Company’s flagship Rook I Project is being optimally developed into the largest low cost producing uranium mine globally, incorporating the most elite standards in environmental and social governance. The Rook I Project is supported by a NI 43-101 compliant Feasibility Study which outlines the elite environmental performance and industry leading economics. NexGen is led by a team of experienced uranium and mining industry professionals with expertise across the entire mining life cycle, including exploration, financing, project engineering and construction, operations and closure. NexGen is leveraging its proven experience to deliver a Project that leads the entire mining industry socially, technically and environmentally. The Project and prospective portfolio in northern Saskatchewan will provide generational long-term economic, environmental, and social benefits for Saskatchewan, Canada, and the world.