Non-Executive Director Share Purchase

Neo Energy Metals plc (LSE: NEO; A2X: NEO), the uranium and gold development company focused on South Africa, announces that the Company was notified on 19 May 2026 that, Sajjad Sabur, one of the Company's non-executive directors, has purchased 982,349 Neo Energy ordinary shares of £0.0001 each ("Shares") at a purchase price of 1.0125 pence per Share and 780,023 Shares at a purchase price of 1.02 pence per Share. The Shares were purchased on the open market on 15 May 2026 and 18 May 2026 respectively.

Following these purchases, Sajjad Sabur holds 2,192,372 shares in the Company, representing 0.1% of the Company's issued share capital.

New Beisa Node - Free State Goldfields

The asset carries more than US$500 million in historical capital investment and benefits from existing surface infrastructure including a headgear and winding systems, a gold processing plant with 120,000 tonne-per-month milling capacity, primary ventilation, a tailings storage facility and all major utilities. Underground development is in place, with the Beisa Reef accessible from the existing shaft at depths of 300 to 1,000 metres.

Initial annual production is targeted at approximately 810,000lb uranium and 52,000 ounces of gold, at an all-in sustaining cost below US$30 per pound uranium equivalent after gold credits, with an estimated mine life of 17 years on current Measured and Indicated resources.

Henkries Node - Northern Cape

The process route - conventional acid leach to yellowcake - has been proven through an Anglo-American pilot plant that processed more than 200 test pits at a cost of over US$30 million.

A 2024 Feasibility Study for the Henkries project indicates annual production of approximately 580,000lb of uranium at a cash cost of approximately US$33/lb, with an NPV (8%) of US$60 million and an IRR in excess of 25% at US$85/lb. Total initial capital requirement is approximately US$65 million