Appointment of CFO and Senior Management Change

NEO ENERGY METALS PLC

("Neo Energy" or the "Company")

Appointment of Chief Financial Officer and Senior Management Change

10 September 2026

Neo Energy Metals plc (LSE: NEO; A2X: NEO), the uranium and gold developer, is pleased to announce the appointment of Ms Elmarié Maritz CA(SA) (“Elmarié”) as Chief Financial Officer ("CFO").

Ms Maritz is a Chartered Accountant with over two decades of CFO and senior finance leadership experience in the mining sector, with a particular depth of experience in the PGM industry. She spent close to a decade at Sedibelo Resources Group, latterly as Group CFO (2016 to 2025).

At Sedibelo, she was responsible for the financial and funding strategy alongside the Chief Executive Officer ("CEO") and Board. Her achievements include the preparation for a proposed New York Stock Exchange listing up to F-1 filing, negotiating USD100 million in metal stream agreements, and securing combined debt facilities of R1 billion with Nedbank and the Industrial Development Corporation.

She holds a B.Comm (Acc) from the University of Pretoria and a B.Compt (Hons) Acc, CTA and Post Graduate Diploma in Auditing from UNISA, and qualified as a CA(SA) in November 2001.

The Company also announces that Mr Martin Westerman, who served as Acting Chief Financial Officer since 8 June 2026, has moved to the newly created role of Group Head – Operations and Project Delivery.

In this role, Mr Westerman will act as a strategic and operational extension of the CEO, with a primary focus on the execution of the Company's mining, technical and project-development strategy. He will co-ordinate delivery across Neo Energy's project portfolio, including the Beisa and Henkries projects, integrating mining, geology, metallurgy, engineering, project controls, operations, health and safety, environmental, regulatory, financial and commercial workstreams into clear, decision-ready programmes.

Mr Westerman will support the CEO with visibility over technical progress, project schedules, budgets, critical-path activities, operational-readiness requirements and material execution risks, and will strengthen co-ordination between corporate and site-based teams to ensure that approved technical and project priorities move from decision to disciplined implementation.

Theo Botoulas, Chief Executive Officer of Neo Energy, commented:

“Elmarié brings two decades of CFO and senior finance leadership experience in the mining sector, including deep exposure to the platinum industry and a strong track record on major funding transactions. Her appointment strengthens our finance function at a pivotal time as we advance our two projects, and the Board and I are confident she is the right person for the role of CFO. I would like to thank Mr Martin Westerman for the excellent contribution he has made as Acting Chief Financial Officer, and I am delighted that his deep knowledge of our projects and operations will now be applied in his new role as Group Head – Operations and Project Delivery.”

This announcement contains information which is considered to be inside information for the purposes of the UK Market Abuse Regulation. Upon the publication of this announcement via Regulatory News Service, this inside information is now considered to be in the public domain. The person responsible for arranging the release of this announcement on behalf of the Company is Frederik Brand, Chief Governance and Legal Officer.

ENDS

About Neo Energy Metals plc

Neo Energy Metals plc is a uranium and gold company listed on the London Stock Exchange Main Market (LSE: NEO) and the A2X Markets (A2X: NEO), with a JSE Main Board listing targeted for 2026. The Company has secured two uranium projects in South Africa with a combined JORC- and SAMREC-compliant resource of 31.5 million pounds (“Mlb”) of uranium and 1.2 million ounces (“Moz”) of gold.

The New Beisa Uranium/Gold Project, to be known as the New Beisa Node, is a brownfields uranium and gold development located on the Beatrix 4 shaft property near Virginia in the Free State Goldfields, one of the highest-grade uranium-bearing regions in the world. The project is being acquired from Sibanye-Stillwater, which operated the Beatrix 4 shaft complex until 2022 and will have a significant shareholding in Neo Energy. The asset carries more than US$500 million in historical capital investment and benefits from existing surface infrastructure including a headgear and winding systems, a gold processing plant with 135,000 tonne-per-month milling capacity, primary ventilation, a tailings storage facility and all major utilities. Underground development is in place, with the Beisa Reef accessible from the existing shaft at depths of 300 to 1,000 metres. Measured and Indicated resources stand at 26.8Mlb of uranium at 1,100ppm and 1.2Moz of gold at 3.27 g/t (SAMREC Code, 2016). Initial annual production is targeted at approximately 810,000lbs uranium and 52,000 ounces of gold, at an all-in sustaining cost below US$30 per pound uranium equivalent after gold credits, with an estimated mine life of 17 years on current Measured and Indicated resources. The Beatrix Mining Right is being transferred to Neo Energy under Section 11 of the Mineral Resources and Petroleum Development Act; ministerial consent is required on or before 6 December 2026 with first production targeted for December 2027.

The Henkries Uranium Project, to be known as The Henkries Node, is a near-surface, palaeochannel-hosted uranium deposit in the Northern Cape Province. Mineralisation occurs in unconsolidated sands from surface to a maximum depth of eight metres, requiring no drilling or blasting. JORC compliant resources total 4.7Mlb of uranium at an average grade of 399ppm, with 25 kilometres of identified paleochannel remaining undrilled on the licence area. The process route — conventional acid leach to yellowcake — has been proven through an Anglo American pilot plant that processed more than 200 test pits at a cost of over US$30 million. A 2024 Feasibility Study for the Henkries project indicates annual production of approximately 260,000lbs U/yr of uranium at a cash cost of approximately US$40/lb, with an NPV (10%) of US$15.1 million and an IRR in excess of 15% at US$57.7/lb. Total initial capital requirement is approximately US$65 million.

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