• Strong Honeymoon performance with record drummed production
• Honeymoon C1 cost reduced by 12% to $30/lb (US$20/lb)
• Balance sheet remains strong with $208M of cash and liquid assets

Boss Energy Ltd reported its Q2 FY26 Quarterly Activities Report, highlighting strong operational performance at the Honeymoon Uranium Project. Drummed production reached a record 456 klbs U3O8, up 18% from the prior quarter, driven by higher flow from new wellfields. The Honeymoon C1 cost declined 12% to $30/lb (US$20/lb), reflecting positive results from reagent optimization programs. The company revised its FY26 guidance, lowering C1 cost to $36-40/lb (US$24-26/lb) and AISC to $60-64/lb (US$40-42/lb). The balance sheet remained robust, with $208M in cash and liquid assets, including $53M in cash and 1.62 Mlbs of drummed inventory. Boss is progressing the Honeymoon Review and initiating a New Feasibility Study to assess a potential wide-spaced wellfield design, which could deliver lower costs and improved lixiviant tenors. The company also provided updates on its Alta Mesa Joint Venture and exploration activities.

FY26 production guidance remains at 1.6 Mlbs of drummed U3O8, with C1 cost guidance revised lower to $36-40/lb (US$24-26/lb) and AISC revised to $60-64/lb (US$40-42/lb). Total capital expenditure guidance increased to $60-66M (US$40-44M).

Boss is focused on delivering the New Feasibility Study for the Honeymoon Uranium Project, which has the potential to identify a pathway for lower operating costs and improved production profiles. The company will also continue to progress the development of its satellite deposits, Gould's Dam and Jason's Deposit, and exploration activities within its existing tenement area.