Update on Audit Progress and Trading Resumption

Neo Energy Metals plc / LSE: NEO, A2X: NEO / Market: Main Market of the London Stock Exchange

19 September 2025

Neo Energy Metals plc

('Neo Energy' or 'the Company')

Update on Audit Progress and Trading Resumption

Neo Energy, the near-term, low-cost uranium developer, provides a comprehensive update on the status of its annual report and accounts for the year ended 30 September 2024 (the "Accounts"), regulatory timelines, and strategic initiatives.

Further to the Company's announcement on 3 September 2025, the Company confirms that it continues to make substantive progress towards the completion of its annual audit and accounts. The Company remains in active and constructive dialogue with its auditors and the relevant regulatory bodies.

Work on the audit is ongoing, with the accounts of key operating subsidiaries in South Africa expected to be finalised and signed off next week. The UK audit process is continuing in parallel and is also expected to be concluded in the near term.

The Board is focused on resolving all outstanding administrative matters and remains committed to the resumption of trading of its ordinary shares on the London Stock Exchange at the earliest opportunity.

Operational Progress

Alongside audit and listing preparations, the Company continues to progress the regulatory approval processes for the projects acquired in 2024. These efforts remain a strategic priority and form the foundation for near-term development activity.

Investor Presentation

Mr Jason Brewer, Neo's Chairman, will be in London during October and anticipates hosting an Investor Presentation on Tuesday, 14 October 2025. Further details on the time and location will be advised in due course.

The Company extends gratitude to its shareholders for their continued patience and support. Further updates will be provided as the Company advances through the final stages of this process.

ENDS

About NEO Energy Metals Plc

Neo Energy Metals plc is a uranium developer and mining company listed on the main market of the London Stock Exchange (LSE: NEO).

The Company and its South African subsidiaries, namely Neo Uranium Resources Beisa Mine (Pty) Limited and Neo Uranium Resources South Africa (Pty) Ltd, have continued to strengthen the uranium portfolio through conditional agreements for the acquisitions of 100% interest in the Beisa North and Beisa South Uranium and Gold Projects and 100% interest in the Beatrix 4 mine and shaft complex, the processing plant complex and associated infrastructure in the Witwatersrand Basin, located in the Free State Province of South Africa. The combined projects' total SAMREC Code compliant resource base comprises 117 million pounds of U₃O₈ and over 5 million ounces of gold.

Additionally, the Company holds up to a 70% stake in the Henkries Uranium Project, an advanced, low-cost mine located in South Africa's Northern Cape Province and a 100% interest in the Henkries South Uranium Project, extending the Henkries Project's strike length by 10km to a total of 46km of shallow paleo-channels proven to host uranium mineralisation through extensive drilling and feasibility studies backed by US$30 million in historic exploration and development expenditure.

The Company is led by a proven board and management team with experience in uranium and mineral project development in Southern Africa. Neo Energy's strategy focuses on an accelerated development and production approach to generate cash flow from Henkries while planning for long-term exploration and portfolio growth in the highly prospective uranium district of Africa.

The Company's shares are also listed on the A2X Markets (A2X: NEO), an independent South African stock exchange, to expand its investor base and facilitate strategic acquisitions of uranium projects, particularly within South Africa.

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