Swedish nuclear legislation enacted

Aura Energy Limited (ASX: AEE, AIM: AURA) ("Aura" or the "Company") is pleased to announce that on 15 July 2026 legislation to amend the country's Nuclear Activities Act was enacted as planned. This enactment confirms that uranium mining will no longer be regulated as a nuclear facility and that consequently uranium extraction will no longer require explicit municipal consent.

KEY DETAILS

§ On 15 June, the Swedish Parliament voted to update the Nuclear Activities Act (Sw. lagen 1984:3 om kärnteknisk verksamhet) as well as associated legislation. The vote was a part of this government's larger Swedish energy policy overhaul, clearing the way for an expansion of nuclear power in Sweden.

§ The effect of the legislation is that uranium mining will no longer be regulated as a nuclear facility, removing the need for explicit municipal consent for the development of a uranium mine.

§ On 15 July the legislative changes to the Nuclear Activities Act were enacted as expected.

§ This is the second piece of legislation intended to facilitate the development of uranium mines in Sweden and follows the removal of the ban on uranium exploration and mining, effective January 2026.

§ It also follows the Geological Survey of Sweden ("SGU") April 2026 proposal to designate the Häggån deposit as a deposit of national interest (riksintresse) for valuable substances or materials.

Authorisation for release

This announcement is authorised for release by the Board of Aura Energy Limited.

The Häggån Project Mineral Resource estimate referred to in this report was originally reported in accordance with the JORC Code (2004 Edition) (see ASX Release dated 22 August 2012 "Outstanding Häggån Uranium Resource Expands to 800 Million Pounds" and ASX Release dated 10 October 2019 "Häggån Battery Metal Project Resource Upgrade Estimate Successfully Completed") and has not been reported in accordance with the JORC Code (2012 Edition). The uranium Mineral Resource comprises an Inferred Mineral Resource of 2.35 billion tonnes at a grade of 155 ppm U3O8 (at a cut-off grade of 100 ppm U3O8), for contained U3O8 of approximately 800 million pounds. A Competent Person has not undertaken sufficient work to classify the historical estimate as a Mineral Resource in accordance with the JORC Code (2012 Edition), and it is uncertain that future conversion work will result in the estimate being reported as a Mineral Resource in accordance with the JORC Code (2012 Edition). Nothing has come to the Company's attention since the original reporting that causes it to believe the historical estimate is materially misleading or inaccurate. However, the estimate should not be relied upon until conversion under the JORC Code (2012 Edition) is complete. The uranium Mineral Resource is currently in the process of being converted in accordance with the JORC Code (2012 Edition) and to incorporate uranium assay information from exploration drilling subsequent to the ASX Release dated 22 August 2012. No reinterpretation or re-estimation has been completed during the conversion process to date. A full summary of the Resource methodology and validation, which is currently being independently reviewed by the Competent Person, will be included in the relevant JORC Table 1 attached to the future announcement of the JORC 2012-compliant Häggån resource estimate.

The Company confirms that the material assumptions underpinning the Häggån Project Production Targets and the associated financial information derived from the Häggån production target as outlined in the Aura Energy ASX Announcement dated 5 September 2023 "Scoping Study Confirms Scale and Optionality of Häggån" continue to apply and have not materially changed. The Company further confirms that it is not aware of any new information or data arising from the ongoing JORC Code (2012 Edition) conversion process that materially affects the Häggån Mineral Resource estimate referred to above.