£1.75 Million Placement

Neo Energy Metals plc (LSE: NEO; A2X: NEO), the uranium and gold developer, is pleased to announce that it has successfully raised gross proceeds of £1.75 million through a placing (the “Placing”) of 269,230,769 new ordinary shares of £0.0001 each in the capital of the Company ("Placing Shares") at a price of 0.65 pence per share ("Issue Price").

The Issue Price represents a discount of approximately 18.75% to the closing mid-market price of 0.8 pence per existing ordinary share on 24 September 2026, being the latest practicable date prior to the publication of this announcement.

The net proceeds of the Placing will be used to support the Company's strategy and to complete the Section 11 consent process and fulfilment of the remaining condition precedent at the Beatrix 4 Shaft Mining Area ("New Beisa Node") for the acquisition of the New Beisa Node from New York Stock Exchange-listed Sibanye-Stillwater Limited ("Sibanye-Stillwater").

Following receipt of the Sibanye-Stillwater Section 11 consent on 17 August, the regulatory process has now progressed to the Section 102 applications currently under review by the DMPR. Upon grant of those approvals, Neo Energy intends to submit its own Section 11 application to acquire the New Beisa Node Mining Right. The Section 11 consent at New Beisa will become the focus of the Company.

As a result, the Company continues to advance some technical, operational and project planning activities in parallel with the regulatory approval process. The proceeds of the Placing will be used to support these activities and provide working capital while the remaining conditions precedent to completion of the acquisition are satisfied. The Company will provide further updates as the Section 102 applications progress and upon submission of Neo Energy's Section 11 application. Following completion of the acquisition, the Company will hold two uranium projects in South Africa with a combined JORC- and SAMREC-compliant resource of 31.6 million pounds ("Mlb") of uranium and 1.2 million ounces ("Moz") of gold.

Theo Botoulas, CEO of Neo Energy, commented:

"We are pleased to announce a fundraise to strengthen our financial position as we work at pace and in partnership with Sibanye-Stillwater to advance our technical and operational readiness and ultimately secure regulatory transfer of the New Beisa mining right, a world-class asset targeting near-term gold and uranium production".

Director Placing participation

Neal Froneman, Non-Executive Chairman of Neo Energy, intends to participate in the Placing, subscribing £100,000 for 15,384,615 Placing Shares.

Admission

Application has been made for the Placing Shares to be admitted to trading on the Main Market of the London Stock Exchange on or around 1 October 2026 ("Admission") and will rank pari passu with the ordinary shares of the Company in issue.

CMC Markets UK Plc ("CMC"), trading as CapX, acted as the Company's placing agent in respect of the Placing.

Total Voting Rights

Following Admission, the Company's issued share capital will comprise 3,091,858,792 ordinary shares of 0.01 pence each, with each share carrying the right to one vote, therefore the total number of voting rights in the Company will be 3,091,858,792. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

This announcement contains information which is considered to be inside information for the purposes of the UK Market Abuse Regulation. Upon the publication of this announcement via Regulatory News Service, this inside information is now considered to be in the public domain.