Curzon Offtake Restructure and Placement Completed

Aura Energy Limited (ASX: AEE, AIM: AURA) (“Aura” or “the Company”) is pleased to announce the completion of the previously announced restructure of the uranium offtake agreement with Curzon Uranium Ltd.¹ (“Curzon”) which materially increased the price receivable for planned uranium production at the flagship Tiris Uranium Project (the “Project”), while releasing significant value for the Project.

KEY POINTS:

• The restructured offtake agreement improves the Project NPV8 by US$22M to US$388M and increases the IRR by 2% to 36% compared with Front End Engineering Design (“FEED”) study economics delivered in February 2024²
• The final restructure agreement and new offtake agreement are on the same terms as previously announced1 to the market and were signed on 15/08/2024
• Consistent with its previous election, Curzon will receive the US$3.5M (A$5.4M) restructuring fee in 29,914,530 Aura shares priced at A$0.18 per share (“Restructuring Fee Shares”), expected to be issued on or around 18/08/2024
• Restructuring Fee Shares will be escrowed until first production from the Project
• Aura will make a private placement to Curzon of 29,914,530 Aura shares, valued at US$3.5M (A$5.4M) in aggregate (“Placement Shares”), expected to be issued on or around 18/08/24
• 50% of the Placement Shares will be escrowed until the earlier of 30 June 2025 or Final Investment Decision (“FID”) is made on the Project
• In addition to the previously disclosed terms for the Curzon placement¹, the parties have agreed that Aura will issue 5,982,906 unlisted options (“Options”) priced at A$0.20 per option and expiring 1 September 2025, to Curzon. The terms of the Options are set out in Annexure 1.
• In aggregate, Curzon will be issued 59,829,060 new shares in Aura and 5,982,906 Options. Following completion of the share issues, Curzon will hold approximately 7.2% of the undiluted issued shares in the Aura.
• With the additional funds, Aura is well funded to progress the Project through to FID by Q1 2025

Aura MD and CEO, Andrew Grove commented:

“We are pleased to conclude the value accretive offtake restructure and we welcome Curzon – a leading global trader in uranium – as a new significant long term Aura shareholder and partner for the development of the Tiris Uranium Project. Curzon’s deep market insights and extensive networks will be of significant benefit to the development and successful operation of the Tiris Uranium Mine and will therefore be of enormous benefit to all Aura shareholders and stakeholders.”

Application for Admission and Total Voting Rights

Application will be made to the London Stock Exchange for the 59,829,060 new shares to be admitted to trading (“Admission”). It is expected that Admission will become effective on or around 20 August 2024.

Following the issue of the 59,829,060 shares to Curzon, the total issued share capital of the Company will consist of 848,462,427 ordinary shares of no par value each ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury. Therefore, the total current voting rights in the Company following Admission will be 848,462,427 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

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