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The contract awards represent another important step in Deep Yellow's disciplined project execution strategy, ensuring critical construction capability is secured ahead of major development activities while maintaining flexibility as the Company progresses toward a Final Investment Decision (FID) anticipated in Q4 of 2026.
Highlights
- Two major civil and concrete construction contracts awarded for Tumas Project following a competitive tender process.
- Combined estimated contract value of approximately A$34 million(1) and continues Deep Yellow's disciplined de-risking of Tumas Project.
- Contracts awarded to 100% Namibian-owned contractors, reinforcing Deep Yellow's commitment to local content and supporting in-country capability.
- Work packages includeprocessing plant concrete, precast infrastructure and Runof-Mine retaining structures.
- Mobilisation scheduled for August 2026 with sequential handover to reduce future execution risk while preserving project development flexibility.
Commenting on the Tumas contract awards, Deep Yellow Managing Director and CEO Greg Field said:
"These awards represent another important milestone in our disciplined approach to project development. Our objective has always been to systematically remove execution risk, secure high-quality contractors and ensure the Project is positioned for efficient delivery as we advance toward FID towards the end of this year.
Civil and concrete works are fundamental to the successful delivery of any majorprocessing facility. Securing these capabilities now creates multiple construction work fronts, increasing execution flexibility and strengthening confidence in execution once FID is reached.
We are equally pleased that both contracts have beenawarded to highly capable Namibian companies. Developing Tumas in partnership with local industry is central to our strategy and reflects our commitment to delivering long-term value for Namibia alongside our shareholders."
Contract Awards
Following a competitive tender process, two contracts have been awarded covering the civil and concrete infrastructure required across the Tumas processing facilities.
The first contract has been awarded to Namibia Construction Pty Ltd. The estimated contract value is approximately A$18.5 million(2) and is on terms consistent for construction contracts of this nature. The scope of this contract includes reinforced concrete construction within the beneficiation, leach feed thickening and tailings transfer facilities, fabrication and installation of precast concrete elements across the processing plant and the design and construction of the reinforced earth retaining wall supporting the Run-of-Mine stockpile.
The second contract has been awarded to Nexus Building and Civils Contractors Pty Ltd. The estimated contract value is approximately A$15.5 million(3) and is on terms consistent for construction contracts of this nature. This contract includes construction of reinforced concrete foundations, plinths, slabs and associated embedded infrastructure throughout the balance of plant.
Both contracts have been awarded to well-established and highly regarded Namibian-owned contractors and are expected to be executed using predominantly Namibian workforces.
The awards reflect Deep Yellow's commitment to developing sustainable local capability and maximising in-country economic benefits from the Project.
Mobilisation is expected to commence in August 2026, with the civil and concrete works to be delivered sequentially. While these works do not alter the Project's critical path or the planned 24-month construction schedule following FID, they establish multiple concurrent work fronts that provide greater execution flexibility, reduce schedule risk and improve confidence in successful project delivery.
(1) Rounded to the nearest A$ million. The contracts are in NAD and converted to AUD based on the Bloomberg exchange rate as at 15 July 2026.
(2) Rounded to the nearest A$500,000. The contract is in NAD and converted to AUD based on the Bloomberg exchange rate as at 15 July 2026.
(3) Rounded to the nearest A$500,000. The contract is in NAD and converted to AUD based on the Bloomberg exchange rate as at 15 July 2026.
About Deep Yellow Limited:
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is successfully progressing a dual-pillar growth strategy to establish a globally diversified, leading uranium company producing 10+ Mlb pa. The Company's portfolio consists of two advanced projects in Tier-1 uranium mining jurisdictions - flagship Tumas in Namibia and Mulga Rock, Western Australia.
Deep Yellow's future growth is underpinned by its highly prospective exploration portfolio - Alligator River, Northern Territory and Omahola, Namibia with ongoing M&A focused on high quality assets should opportunities arise that best fit the Company's strategy. Led by a best-in-class team, who are proven uranium mine builders and operators, the Company is advancing its growth strategy at a time when the need for nuclear energy is becoming the only viable option in the mid-to-long-term to provide baseload power supply and achieve zero emission targets. Importantly, Deep Yellow is on track to becoming a reliable and long-term uranium producer, able to provide production optionality, security of supply and geographic diversity.
Source:
Deep Yellow Limited
Contact:
Investors:
Greg Field
Managing Director - CEO
+61 8 9286 6999
info@deepyellow.com.au
Media:
Peter Klinger
Director - Purple
+61 411 251 540
pklinger@purple.au
