Etango Uranium Project - March 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 March 2026 includes:

Early works construction activities tracking to overall budget and schedule:

• Site contractor workforce now over 560 personnel and 500,000 LTI-free hours achieved on the project to date.

• Bulk earthworks contract progressing well and approx. 66.5% complete, major focus remains construction of heap leach pads and wet plant terraces.

• Blasting, crushing and screening of heap leach drainage aggregate advancing to schedule and on-spec with approx. 24% of total requirement completed.

• Total 5,509m3 of concrete cast as part of Phase 1 and Phase 2A concrete contracts at the primary crusher, stockpile tunnel and fine ore silo. This represents approx. 32% of the volume of concrete to be poured for these packages.
  

Detailed design and procurement activities advancing well:

• Civil and mechanical design for dry plant approx. 93% complete and aligned with schedule requirement for issue of construction drawings.

• Wet plant design currently focused on layout optimisation; progress also remains aligned with schedule requirement for issue of construction drawings later this year.

Long-term infrastructure and utilities supply activities progressing strongly:

• Phase 1 of permanent water supply pipeline installation advancing with approx. 70% complete.