13 July 2026

Yellow Cake plc ("Yellow Cake", the "Company" or "Group")

Transaction in Own Shares & Completion of Share Buyback Programme

Yellow Cake, a specialist Group operating in the uranium sector, holding physical uranium ("U₃O₈") for the long term and engaged in uranium-related commercial activities, announces that, during the period from 6 July 2026 to 10 July 2026, it purchased 257,976 ordinary shares of £0.01 each in the Company (the "Ordinary Shares") on the London Stock Exchange through Canaccord Genuity Limited. Such purchase was made in accordance with the terms of its share buyback programme, as announced on 15 June 2026 (the "Programme").

Following the purchases made during the period from 6 July 2026 to 10 July 2026, Yellow Cake announces that it successfully completed the Programme. 

Yellow Cake intends to hold the purchased Ordinary Shares in treasury. Following the purchase of the Ordinary Shares, the Company will have 257,243,467 Ordinary Shares in issue. Upon transfer of the purchased Ordinary Shares into treasury, the Company will hold 5,948,259 Ordinary Shares in treasury and the total number of Ordinary Shares carrying voting rights will be 251,295,208.

The above figure of 251,295,208 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Since the commencement of the Programme on 15 June 2026, the Company has purchased 1,363,976 Ordinary Shares at a volume weighted average price of 544.41 pence for an aggregate consideration of approximately US$10 million (excluding fees and taxes).

In accordance with Article 5(1)(b) of Regulation (EU) No. 596/2014 and Commission Delegated Regulation (EU) No. 2016/1052, as they form part of UK law, detailed information of the individual trades made by Canaccord Genuity Limited as part of the Programme is set out below.

Individual transactions:

ENQUIRIES:

ABOUT YELLOW CAKE

Yellow Cake is a London-quoted company, headquartered in Jersey, which offers exposure to the uranium spot price. This is achieved through its strategy of buying and holding physical triuranium octoxide ("U₃O₈"). It may also seek to add value through other uranium-related activities. Yellow Cake and its wholly owned subsidiary (together, the "Group") seek to generate returns for shareholders through the appreciation of the value of its holding of U₃O₈ and its other uranium-related activities in a rising uranium price environment. The business is differentiated from its peers by its ten-year Framework Agreement for the supply of U₃O₈ with Kazatomprom, the world's largest uranium producer. The Group currently holds 23.11 million pounds of U₃O₈, all of which is held in storage in Canada and France. 

FORWARD LOOKING STATEMENTS

Certain statements contained herein are forward looking statements and are based on current expectations, estimates and projections about the potential returns of the Group and the industry and markets in which the Group will operate, the Directors' beliefs and assumptions made by the Directors. Words such as "expects", "anticipates", "should", "intends", "plans", "believes", "seeks", "estimates", "projects", "pipeline", "aims", "may", "targets", "would", "could" and variations of such words and similar expressions are intended to identify such forward looking statements and expectations. These statements are not guarantees of future performance or the ability to identify and consummate investments and involve certain risks, uncertainties and assumptions that are difficult to predict, qualify or quantify. Therefore, actual outcomes and results may differ materially from what is expressed in such forward looking statements or expectations. Among the factors that could cause actual results to differ materially are: uranium price volatility, difficulty in sourcing opportunities to buy or sell U₃O₈, foreign exchange rates, changes in political and economic conditions, competition from other energy sources, nuclear accident, loss of key personnel or termination of the services agreement with 308 Services Limited, changes in the legal or regulatory environment, insolvency of counterparties to the Group's material contracts or breach of such material contracts by such counterparties. These forward-looking statements speak only as at the date of this announcement. The Group expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based unless required to do so by applicable law or the AIM Rules.