Update on Publication of Annual Accounts

Neo Energy, the near-term, low-cost uranium developer, provides an update on publication of its annual report and audit of its accounts for the year ended 30 September 2024 (the "Annual Accounts") and publication of its interim accounts for the six-month period ending 31 March 2025 ("Interim Accounts"), and likely timing of resumption in trading of the Company's shares on the London Stock Exchange.

The Board has been pleased with the progress made over past weeks by its financial team in the United Kingdom and in South Africa and its independent auditors, Moore Kingston Smith. The Company now expects the Annual Accounts to be published within the next two weeks, subject to any last-minute adjustments, which are not expected.

Publication of the Interim Accounts, which are also currently being finalised, will proceed very shortly after the Annual Accounts are published.

Upon the Annual and Interim Accounts being published, the Company will request that the current suspension from trading is lifted.

In parallel with the audit work, the Company continues to progress its mine and project related activities in South Africa and anticipates that the regulatory approval processes for the projects acquired in 2024 will be received in the current quarter.

The Company's United Kingdom based directors and Neo's Chairman, Mr Jason Brewer, will hold a number of meetings in London over the next two weeks in anticipation of the resumption of trading in the Company's shares and this will include an investor presentation for shareholders. The details on the time and location will be advised shortly.

The Company appreciates the ongoing support and patience of its shareholders.

Further updates will be provided.