NexGen Energy Ltd. PROUD PARTNER Corporate Presentation July 2020
Forward Looking Statements Information Contained in this Presentation This presentation is a summary description of NexGen Energy Ltd. (“ NexGen ” or the “ Company ”) and its business and does not purport to be complete. This presentation is not, and in no circumstances is to be construed as a prospectus, advertisement or a public offering of securities. No securities regulatory authority or similar authority has reviewed or in any way passed upon the document or the merits of the Company’s securities and any representation to the contrary is an offence. Except where otherwise indicated, the information contained in this presentation has been prepared by NexGen and there is no representation or warranty by NexGen or any other person as to the accuracy or completeness of the information set forth herein. This presentation includes information on adjacent properties that was obtained from various publicly available sources referred to herein and the accuracy and completeness of such information has not been verified by NexGen. Except as otherwise stated, information included in this presentation is given as of the date hereof. The delivery of this presentation shall not imply that the information herein is correct as of any date after the date hereof. Forward-Looking Information The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, the completion of the technical report in support of the PEA. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen’s business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, the results of planned exploration activities are as anticipated, the price of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen’s planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, imprecision of mineral resource estimates, the appeal of alternate sources of energy and sustained low uranium prices, aboriginal title and consultation issues, exploration risks, reliance upon key management and other personnel, deficiencies in the Company’s title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and policy, competition for resources and financing, or other approvals, and other factors discussed or referred to in the Company’s Annual Information Form dated March 11, 2020 under “Risk Factors”. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws. 2
NexGen Overview
Arrow: A Disruptive Mineral Asset Low Cost (1) Long Life Large (2,3) Arrow 25.4 Surfac Shaft #1 Shaft #2 e (Production, (Exhaust Air) $50 Overburd Cigar Lake 15.3 Access) en Bedrock McArthur River 13.7 Inferred $40 Tortkuduk & Myunkum 7.8 Resources Cash Cost (US$/lb) Olympic Dam 5.2 Inferred Resources $30 Budenovskoye 2 5.2 PFS Mine Inkai 4.7 Plan Inferred Resources Inferred $20 SOMAIR 4.7 Resources South Inkai 4.4 Inferred Inferred $10 Resources Ranger 4.3 Resource s Budenovskoye 1, 3 & 4 4.3 - – 10.0 20.0 30.0 - 20 40 60 80 100 120 140 Production (mmlbs U 3 O 8 ) 2020 U 3 O 8 Production (mmlbs) Arrow at the bottom of Permit application for 24-year Arrow will be the World's largest industry cost curve operating life mine with low technical risk Source: SNL, World Nuclear Association and company disclosure (1) Represents 2020 uranium cost curve, adjusted for the inclusion of Arrow. Arrow data based on LOM average annual production of 25.4mmlbs and operating costs of C$5.81/lb converted to USD at 0.75 FX rate, as disclosed in November 2018 PFS (2) Represents Arrow LOM average production as disclosed in November 2018 PFS (3) Production shown on a 100% basis 4
Summary NexGen Energy Ltd. • Corporate office in Vancouver with primary operations head office in Saskatoon. • Founded in 2011 with objective of discovering and developing the World’s next generation uranium mine to fuel global clean energy initiatives. • Secured global financing from pre-eminent investor base while maintaining complete operational and supply autonomy. • Community focused programs to effect generational positive change. • Focused on becoming the long-term and dependable partner to global utilities. Arrow Deposit • Rook I is located in northwest Saskatchewan, approximately 155 km north of the town of La Loche, and 640 km northwest of Saskatoon. • Rook I is the 100%-NexGen owned flagship property which currently hosts 5 uranium discoveries over a 10 km strike length. • Arrow is a 100% land-based, basement-hosted and high-grade uranium deposit located within the Rook I Project discovered in February 2014. • Arrow is the largest to be developed high grade uranium deposit in the World where NexGen is permitting a dedicated mine and mill complex. 5
NexGen History 2014 2019 2016 2017 2018 2020 • NexGen announced • Appointed former • NexGen expanded • February 14, • NexGen • NexGen filing of 2 nd updated Premier of drill campaign and 2014 discovery announced filing announced Mineral Resource of 3 rd updated Saskatchewan, published largest of Arrow Deposit, US$30M strategic Estimate, The Pre- Brad Wall, to Board Maiden Mineral on Rook I Mineral Resource financing with Economic of Directors. Resource Estimate Property with first Estimate, the Queens Road Assessment on the in the Basin’s drill hole. Pre-Feasibility Capital, includes Arrow Deposit, • Commenced history with the Study on the voting rights. Rook I Project. Environmental Arrow Deposit. Arrow Deposit, Assessment for Rook I Project. • NexGen announced Rook 1 Project, • NexGen closed additional US$110M home of Arrow by US$60M strategic financing with CEF successful investment by CEF Holdings (Li Ka- acceptance of Holdings (Li Ka- Shing), includes Project Description. Shing), includes voting rights. voting rights. 6
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