Mr. Leigh Curyer reports

NEXGEN ANNOUNCES FIRST URANIUM SALES CONTRACTS FOR 5 MILLION POUNDS WITH MAJOR US UTILITIES

NexGen Energy Ltd. has been awarded the first uranium sales agreements with multiple leading U.S. nuclear utility companies.

These inaugural awards all incorporate market-related pricing mechanisms at the time of delivery. They reflect NexGen's long-stated focus of maximizing leverage to future uranium prices and the company's positioning as a new reliable Western-world source of nuclear fuel incorporating the highest standards of technical, environmental and social inclusion from the Tier 1 jurisdiction of Saskatchewan, Canada.

The table below sets out the aggregate delivery quantities of uranium contemplated in the sales agreements, together with the expected gross sales revenue based on various assumed spot prices.

Uncommitted pounds of probable mineral reserves remaining (as per National Instrument 43-101 Rook I project feasibility study):  231.66 million pounds U3O8 (triuranium octoxide)

Leigh Curyer, chief executive officer, commented: "These offtake awards with premier U.S. utilities represents a pivotal moment for NexGen. They underscore the premier quality and scalability of the Rook I project, whilst offering diversification of supply from existing centralized sources. Further, the terms of these awards reflect market-related pricing mechanisms at the time of delivery, reflecting NexGen's long-term stated strategy of optimizing the value of each pound produced.

"Energy demand from reliable sources is increasing by the week with the need to expand existing nuclear energy infrastructure and the construction of power consuming data centres at a time the security of uranium supply is under significant technical and sovereign risk.

"The contract awards are in parallel to ongoing discussions and negotiations with additional U.S., European and Asian utilities, which further complement NexGen's strong financial position and construction-ready status at Rook I. The project is poised to become one of the largest and most environmentally sustainable uranium operations globally. This milestone is another reflection of NexGen's ability to execute on its strategic vision in advancing its position as a global leader in the nuclear fuel supply chain."

About NexGen Energy Ltd.

NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future. The company's flagship Rook I project is being optimally developed into the largest low-cost producing uranium mine globally, incorporating the most elite standards in environmental and social governance. The Rook I project is supported by an NI 43-101 compliant feasibility study, which outlines the elite environmental performance and industry-leading economics. NexGen is led by a team of experienced uranium and mining industry professionals with expertise across the entire mining life cycle, including exploration, financing, project engineering and construction, operations and closure. NexGen is leveraging its proven experience to deliver a project that leads the entire mining industry socially, technically and environmentally. The project and prospective portfolio in Northern Saskatchewan will provide generational, long-term economic, environmental and social benefits for Saskatchewan, Canada and the world.

NexGen is listed on the Toronto Stock Exchange and the New York Stock Exchange under the ticker symbol NXE and on the Australian Securities Exchange under the ticker symbol NXG, providing access to global investors to participate in NexGen's mission of solving three major global challenges in decarbonization, energy security and access to power. The company is headquartered in Vancouver, B.C., with its primary operations office in Saskatoon, Sask.

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