Change in South African Transfer Secretary

Neo Energy, the near-term, low-cost uranium developer, advises that the Company is currently in the process of finalising the appointment of Strate Proprietary Limited, ("Strate"), in its role as a licensed central securities depository, to enable faster removals between the South African and UK registers and who will act as the effective transfer secretary for these transactions.

The main benefit of this appointment is, inter alia, the high-speed electronic transfer of shares between the United Kingdom and South Africa within hours, removing the lengthy re-materialisation and de-materialisation process, which can take between two to four weeks.

Strate will facilitate the establishment of a South African share register under Strate's nominee company, PLC Nominees (Pty) Ltd. This will enable the trading and settlement of the Company's shares by South African investors on South Africa's A2X Markets and also on the Johannesburg Stock Exchange, once the Company completes its recently announced proposed fast-tracked listing application later this year.

Strate will provide custody, administrative, and cross-border transfer services for the Company's shares held by South African investors through a Foreign Securities Account and in compliance with the regulatory requirements of both jurisdictions. The Company will facilitate the initial transfer or deposit of the relevant securities into the account.

The imminent appointment of Strate aligns the Company's broader strategy of enabling direct participation from South African investors in the Company's future growth as well as the ability for the seamless transfer of securities between the UK and South Africa.

The appointment will follow the resignation of JSE Investor Services Proprietary Limited as transfer secretary on 30 June 2025.