Ann: Quarterly Cashflow Report, page-39

tutes,.. 2023 has been delivered,... From the April QTY,..Strong 1Q 2023 sales of 500,000 lbs including 300,000 lbs to US Department of Energy.

Uranium Sales
Peninsula completed a purchase option exercise and restructure with one of its long-standing utility
customers. The annual delivery volume of the option pounds was significantly reduced, allowing the total
volume to be delivered over a longer period. This is a welcome and favourable outcome as the option
pricing is structured below current spot price levels, as previously reported. In conjunction with the option
exercise and restructure, the utility agreed to a new contract consistent with current market pricing
involving delivery of additional uranium starting in 2028.