Update on Audit Progress and Trading Resumption

Neo Energy, the near-term, low-cost uranium developer, provides a comprehensive update on the status of its annual report and accounts for the year ended 30 September 2024 (the "Accounts"), regulatory timelines, and strategic initiatives.

Further to the Company's announcement on 3 September 2025, the Company confirms that it continues to make substantive progress towards the completion of its annual audit and accounts. The Company remains in active and constructive dialogue with its auditors and the relevant regulatory bodies.

Work on the audit is ongoing, with the accounts of key operating subsidiaries in South Africa expected to be finalised and signed off next week. The UK audit process is continuing in parallel and is also expected to be concluded in the near term.

The Board is focused on resolving all outstanding administrative matters and remains committed to the resumption of trading of its ordinary shares on the London Stock Exchange at the earliest opportunity.

Operational Progress

Alongside audit and listing preparations, the Company continues to progress the regulatory approval processes for the projects acquired in 2024. These efforts remain a strategic priority and form the foundation for near-term development activity.

Investor Presentation

Mr Jason Brewer, Neo's Chairman, will be in London during October and anticipates hosting an Investor Presentation on Tuesday, 14 October 2025. Further details on the time and location will be advised in due course.

The Company extends gratitude to its shareholders for their continued patience and support. Further updates will be provided as the Company advances through the final stages of this process.