An anonymous director reports

NEXGEN UPDATES AT-THE-MARKET EQUITY PROGRAM

NexGen Energy Ltd. has provided an update to its at-the-market equity program (the ATM program) to offer and sell up to $500-million of common shares from treasury.

Sales of common shares, if any, will be made pursuant to the terms of an equity distribution agreement dated Dec. 11, 2023, among the company, Virtu ITG Canada Corp., as Canadian agent, and Virtu Americas LLC, as United States agent, on the Toronto Stock Exchange and/or the New York Stock Exchange, and/or any other marketplace for the common shares in Canada or the United States or as otherwise agreed between the agents and the company. The volume and timing of sales under the ATM program, if any, will be determined in the company's sole discretion, and at the market price prevailing at the time of each sale, and, as a result, sale prices may vary.

The ATM program is being made pursuant to a prospectus supplement dated Dec. 11, 2023, to the company's final short form base shelf prospectus filed in all provinces and territories of Canada dated Dec. 8, 2023, and pursuant to a prospectus supplement dated Dec. 11, 2023, to the company's U.S. base prospectus included in its registration statement on Form F-10 (file No. 333-275839) filed with the United States Securities and Exchange Commission on Dec. 8, 2023.

As outlined in the offering documents, the company intends to use the net proceeds from the ATM program, if any, to finance the continued development and further exploration of its mineral properties, and for general corporate purposes.

The ATM program will be effective until the earlier of the sale of all of the common shares issuable pursuant to the ATM program and Jan.uary 8, 2026, unless terminated prior to such date by the company or the agents. Concurrent with the entering into of the sales agreement, the company's previously announced at-the-market equity distribution agreement dated Jan. 6, 2023, was terminated.

Potential investors should read the offering documents, sales agreement and other documents the company has filed for more complete information about the company and the ATM program.

About NexGen Energy Ltd.

NexGen is a British Columbia corporation focused on the development of the Rook I project located in the southwestern Athabasca basin, Saskatchewan, Canada, into production.

We seek Safe Harbor.