Mr. Leigh Curyer reports

NEXGEN RELEASES 2024 SUSTAINABILITY REPORT

NexGen Energy Ltd. has released its 2024 sustainability report, which covers the period from Jan. 1, 2024, to Dec. 31, 2024. The report marks the fifth year that NexGen has reported on the company's robust environmental, social and governance profile. In addition to reporting in accordance with the Global Reporting Initiative (GRI) standards, the report demonstrates alignment with the Task Force of Climate-related Financial Disclosures (TCFD).

Leigh Curyer, chief executive officer, commented: "Two thousand twenty-four proved to be a landmark year for NexGen -- one defined by major achievements that bring us to the final stages of delivering the world's largest high-grade uranium project while delivering the most elite standards of health and safety, environmental protection, and social well-being for all of our stakeholders. The exciting new discovery at Patterson Corridor East, further underscores the exceptional prospectivity of our land package and the long-term growth potential for the company. With each milestone, we are not only advancing the Rook I project but also shaping the landscape of responsible resource development. As we move toward becoming one of the most strategic mining companies, our steadfast commitment to sustainable development, elite environmental stewardship and genuine community partnerships remains at the core of everything we do."

Key highlights from the report

Completion of federal environmental assessment technical review and setting of hearing dates

NexGen achieved a historic regulatory milestone, successfully completing the Canadian Nuclear Safety Commission (CNSC) environmental assessment (EA) technical review in November, 2024 -- a first for a greenfield uranium mine and mill in Canada in 20 years. This follows the completion of the provincial EA in November, 2023. The company is now preparing for the CNSC commission hearing currently scheduled to be complete in February, 2026, and, pending a positive EA decision, is ready to immediately commence construction.

2024 ABEX Community Involvement Award

NexGen was honoured with the 2024 ABEX Community Involvement Award from the Saskatchewan Chamber of Commerce for its genuine approach to building strong resilient communities through innovative and inclusive programs that are delivering a positive impact in the region.

Expanded training and education programs

Expansion of the company's education and training initiatives included the launch of NexGen's Pathways to Your Future career development program. This, alongside other NexGen-initiated-and-financed programs, has equipped over 500 local participants in the local priority area (LPA) with essential technical and workplace skills for careers in uranium mining since 2023.

Local employment and procurement opportunities

Prioritizing communities within the LPA, NexGen exceeded its aspirational employment and procurement targets, with 82 per cent of Rook I site employees being LPA residents and 94 per cent of Rook I cash expenditure awarded to LPA suppliers.

Environmental performance through energy efficiency

NexGen optimized power generation at the Rook I project through the implementation of a centralized power generation system and the installation of a pilot 24-kilowatt solar power system.

Active environmental management during exploration

NexGen minimized its environmental footprint during exploration activity through a single-area-focused drill program, resulting in a 73-per-cent reduction in overall land disturbance. Additionally, the company reclaimed 83 per cent of land disturbed by exploration activity in 2024.

Economic impact update

Building on the updated initial capital and sustaining and operating costs released during 2024, an economic impact study of the Rook I project points to the significant scale of its potential positive effects. The forecasted total economic impact to the province of Saskatchewan and Canada over the development and 11-year production period is $37-billion, with an average of 1,400 annual total jobs. Importantly, the project is being permitted for a 24-year mine life, underscoring the opportunity for potentially greater long-term benefits, both economically and socially, well beyond the initial forecast.

Climate-related disclosure alignment (TCFD)

NexGen completed a comprehensive TCFD gap analysis, followed by a climate-related risk assessment that evaluated physical and transition risks over short-term, medium-term and long-term time horizons, ensuring that climate-related risks and opportunities are effectively integrated into NexGen's broader risk management and strategic planning.

The 2024 report has been prepared in accordance with the GRI Standards, in alignment with the TCFD, and has been reviewed and approved by NexGen's executive team, the sustainability committee, as well as the full board of directors. NexGen will continue to optimize its sustainability reporting in line with the company's focus on accountability and transparency.

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 a National Instrument 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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