Ann: DYL: Deep Yellow and Vimy Agree to a Proposed $658M Merger, page-4

HIGHLIGHTS  Deep Yellow and Vimy have agreed to a merger by a Scheme of Arrangement, under which Deep Yellow will acquire 100% of the Vimy Shares on issue  Vimy Shareholders will receive 0.294 Deep Yellow Shares for every Vimy Share held on the Scheme record date  The merger transaction implies 28.5¢2 per Vimy Share representing a premium of 35.3% to the 30-day VWAP and a 18.8% premium to the closing Vimy Share price on 25 March 2022 (being the last trading day for Vimy Shares and Deep Yellow Shares prior to this announcement)  Upon implementation of the Scheme, Deep Yellow shareholders will hold 53% of the Merged Group and Vimy Shareholders will hold 47%3  The Scheme is unanimously recommended by the Board of Vimy and each director of Vimy intends to vote all Vimy Shares they control in favour of the Scheme, in the absence of a Superior Proposal, and subject to an Independent Expert opining (and continuing to opine) that the Scheme is in the best interests of Vimy Shareholders4  The merger is expected to create a new global uranium player with significant scale, cash resources of $106 million5, one of the largest uranium Mineral Resource inventories globally (389Mlb6) and two advanced, world class assets in Tier-1 uranium mining jurisdictions  Deep Yellow and Vimy will host a joint investor call at 10AM AWST (1PM AEDT) today, 31 March 2022