Implementation of Strate’s Cross-border Removals

NEO Energy plc, the uranium and gold developer with assets in South Africa, is pleased to announce that it has partnered with Strate to utilise their cross-border removals process, effective 1 July 2026, enabling cross-border removals through its direct CSD link with Euroclear Bank.

Primary listed on the London Stock Exchange and dual listed on A2X Markets, Neo is advancing uranium development projects in South Africa, supporting the future supply of a mineral that remains critical to the global energy transition.

As one of South Africa's licenced exchanges, A2X Markets continues to broaden listing opportunities for issuers and investors, contributing to the depth and competitiveness of our capital markets.

Through Strate's removals capability, issuers and investors benefit from:

• T+0 removals settlement
• Automated trade matching and settlement finality
• Reduced operational risk
• Efficient corporate actions processing
• Greater liquidity and cross-border investment opportunities

Neo Energy enjoys high liquidity on the LSE and it is expected that this will benefit shareholders of Neo Energy and also lead to improved liquidity on A2X Markets.

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 810,000lbs 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 580,000lbs 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.