Mr. Leigh Curyer reports

NEXGEN ANNOUNCES CLOSING OF STRATEGIC PURCHASE OF 2.7 MILLION POUNDS OF URANIUM

NexGen Energy Ltd. has closed its previously announced purchase of 2,702,410 pounds natural uranium concentrate (U3O8) for an aggregate purchase price of $250-million (U.S.), which was satisfied through the issuance of $250-million (U.S.) aggregate principal amount of five year, 9.0 per cent per annum (payable two-thirds cash and one-third common shares) unsecured convertible debentures, in accordance with the previously disclosed terms including entering into investor rights agreements with the holders of debentures containing voting alignment, standstill, anti-hedging, and sale and transfer restriction covenants.

Leigh Curyer, chief executive officer, commented: "This transaction further optimizes the advancement of the offtake negotiations which are under way and progressing well. This transaction is designed to ultimately maximize the value of the significant uranium inventory that we will have as we look ahead to production and sales. Further, having access to 2.7 million pounds of uranium at surface in inventory will no doubt prove to be increasingly strategic given the recent passing of the Prohibiting Russian Uranium Imports Act into U.S. law. The current offtake discussions tie into the project financing process which is progressing in anticipation of full project approvals. With the responses to the final 49 aspects of the technical review process submitted to the Canadian Nuclear Safety Commission on May 21, 2024, we are advancing the project through final detailed designs and procurement activities in line with our objectives and schedule."

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.

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