Etango Uranium Project - June 2026

Bannerman Energy's Etango Uranium Project in Namibia is currently in early works construction, with activities tracking in line with budget and schedule, progress at June 2026 includes:

Early works construction activities tracking to overall budget and schedule:

• Contractor workforce on site exceeds 560 personnel and 1.1 million LTI-free hours achieved on the project to date.

• Bulk earthworks contract advancing in line with schedule with approx. 92% complete; focus remains the freshwater pond, wet plant terraces and heap leach pad.

• Production of heap leach drainage aggregate continues to deliver on-spec material, with approx. 29% of total requirement completed.

• Concrete construction activities continue across key dry plant infrastructure areas, with major processing facilities now beginning to take shape; total of 10,800m3 concrete has been cast, representing approx. 60% of the Phase 1 and 2A packages.
  

Detailed design and procurement activities on schedule:

• Civil and mechanical design for dry plant approx. 94% complete and aligned with schedule requirement for issue of construction drawings.

• Wet plant design also remains aligned with schedule requirement for issue of construction drawings later this year.
  

Long-term infrastructure and utilities supply activities progressing strongly:

• Permanent water supply agreement executed with NamWater.

• Phase 1 of permanent water supply pipeline installation now approx. 87% complete.