Announcement PDF ASX:AGE Alligator Energy Ltd Delivering the Samphire Growth Strategy IMARC - Sydney 29 October 2026 2 Investor Presentation | ASX:AGE | alligatorenergy.com.au Disclaimers This presentation contains summary information about Alligator Energy Limited (Alligator, AGE or the Company) and its subsidiaries and their activities, current only at the date of this presentation. This presentation is for information purposes only. The information in the presentation is of a general nature only and does not purport to be complete. This presentation should be read in conjunction with Alligator’s most recent financial report and other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange (ASX), which are available at www.asx.com.au and on Alligator’s website at www.alligatorenergy.com.au. No investment or financial product advice The information contained in this presentation does not constitute investment advice or financial product advice (nor taxation or legal advice) and is not intended to be used as the basis for making an investment decision or as a recommendation to acquire securities in Alligator. The information contained in this presentation should not be relied upon as a recommendation or forecast by Alligator (including as to the performance of Alligator or its share price). Readers should obtain their own professional advice and carry out their own independent investigations and assessment of the information in this presentation (including any assumptions) before acting. This presentation has been prepared without taking into account any particular person’s objectives, financial situation or needs; does not purport to identify the nature of specific market or other associated risks with any investment in the Company and does not constitute any legal, taxation, investment or accounting advice. An investment in Alligator’s securities is subject to investment and other risks, known and unknown, some of which are beyond the control of Alligator, including loss of income and principal invested. The Company does not guarantee any particular rate of return or the performance of the Company, nor does it guarantee any particular tax treatment. Any investment decision should be based only on a person’s own due diligence, inquiry, assessment and professional advice. Not an offer This presentation is for information purposes and is not, and does not purport to be, a prospectus, product disclosure statement or any other offering document under Australian law or the law of any other jurisdiction. The information does not and will not constitute or form part of an offer, invitation, solicitation or recommendation in relation to the subscription, purchase or sale of securities in any jurisdiction. The distribution of this presentation in jurisdictions outside Australia may be restricted by law and you should observe any such restrictions. No warranty While care has been taken in preparing the information in this presentation, no representation or warranty, express or implied, is made as to the currency, accuracy, reliability, completeness or fairness of the information, opinions and conclusions contained in this presentation. The information in this presentation has been obtained from or based on sources believed by Alligator to be reliable. This includes references to test results and reports completed by external parties. Information in this presentation which is attributed to, or derived from, a third-party source has not been independently checked or verified by Alligator. No representation or warranty is made as to the accuracy, completeness or reliability of such information. To the maximum extent permitted by law, neither Alligator nor its related corporations, directors, officers, employees, advisers or agents, nor any other person, accepts any liability, including, without limitation, any liability arising from the use of this presentation or its contents or otherwise arising in connection with them, nor guarantees or makes any representations or warranties, express or implied, as to or takes responsibility for, the currency, accuracy, reliability, completeness or fairness of this presentation nor the information, opinions and conclusions contained in this presentation. 3 Investor Presentation | ASX:AGE | alligatorenergy.com.au Forward-Looking Statements This presentation contains or may contain certain forward-looking statements and comments about future events, that are based on Alligator’s beliefs, assumptions and expectations and on information currently available to the Board and management as at the date of this presentation. This applies equally to any forward-looking statements made orally during or in connection with this presentation. Often, but not always, forward-looking statements can be identified by the use of forward-looking words such as “may”, “will”, “expect”, “plan”, “believe”, “estimate”, “anticipate”, “outlook” and “guidance”, or similar expressions, and may include, without limitation, statements regarding plans, strategies and objectives of the Board and management, anticipated production and production potential, financial forecasts, product quality, estimates of future Mineral Resources and Ore Reserves, and the timing and outcome of drilling programs, Mineral Resource updates, the Feasibility Study, permitting and approvals, offtake and project financing. Such statements are only expectations or beliefs and are subject to inherent risks and uncertainties which could cause actual values, results, performance or achievements to differ materially from those expressed or implied in this presentation. Where Alligator expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and on a reasonable basis. No representation or warranty, express or implied, is made by Alligator that the matters stated in this presentation will in fact be achieved or prove to be correct. Except as required by law, Alligator undertakes no obligation to provide any additional or updated information or update any forward-looking statements, whether as a result of new information, future events, results or otherwise. A summary of key risks is set out in Appendix 3. Readers are cautioned against placing undue reliance on forward-looking statements. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of Alligator, its directors and management. These factors include, but are not limited to, difficulties in forecasting expected production quantities, the potential that any of Alligator’s projects may experience technical, geological, metallurgical and mechanical problems, changes in market prices and other risks not anticipated by Alligator, changes in exchange rate assumptions, changes in product pricing assumptions, major changes in mine plans and/or resources, changes in equipment life or capability, emergence of previously underestimated technical challenges, increased costs, demand for production inputs, drilling conditions and contractor availability, the timing and outcome of regulatory approvals, tenure and land access (including the Mullaquana Crown Lease option), the availability of funding on acceptable terms, and uranium price volatility. Past performance, including past exploration and Field Recovery Trial results, is not a reliable indicator of future performance. 4 Investor Presentation | ASX:AGE | alligatorenergy.com.au Corporate Overview A$25.4M Cash (@ 30 Sep 2026) Institutions 33% Directors & Executives 1% Retail & HNW 66% Shareholders(1) (1) Share register analysis at 1 Oct 2026; institutions counted among analysed holdings (2) Indicated and Inferred, AGE ASX Releases 6 May 2025 (Blackbush) and 19 Jun 2026 (Plumbush) 4.83B 318.1M A$0.031 Ordinary Shares Share Price (@ 23 Oct 2026) Listed and Unlisted Options A$149.8M Market Cap (@ 23 Oct 2026) (2) 5 Investor Presentation | ASX:AGE | alligatorenergy.com.au Board and Management Over a century of uranium experience across the Board and management team Board and Management Dr Andrea Marsland-Smith Managing Director & Chief Executive Officer PhD-qualified economic geologist with 30+ years’ experience with uranium. Close to 20 years with Heathgate Resources, including discovery to production of the Four Mile uranium mine. Former member of Heathgate’s Executive Management Team (Beverley and Four Mile ISR), with roles up to Head of Geology, Head of Regulatory & Compliance and Head of Operations. Previously Exploration Manager with Uranium Equities. Board of Directors Paul Dickson Non-Executive Chairman 35+ years in financial services, including stockbroking with Ord Minnett and corporate advisory. Chair of Axel REE; director of Verity Resources. Gregory Hall Non-Executive Director Mining engineer with 35+ years in senior roles, particularly uranium. Former MD & CEO of Alligator and founding MD & CEO of Toro Energy; operations at Olympic Dam and Ranger; uranium marketing with Rio Tinto. Fiona Nicholls Non-Executive Director 30+ years in resources and sustainability, including two decades in uranium. 12 years on Rio Tinto Energy executive committees; former director of Rössing Uranium. Daniel Lougher Non-Executive Director 42+ years in exploration, feasibility, development and operations, including 18 years in Africa. Former MD & CEO of Western Areas; director of Perseus Mining. Management Nick Jervis-Bardy Geoscience Lead Geophysicist and Alligator’s Competent Person (CP, MAusIMM) for Samphire and Big Lake. Leads the geology, geophysics and hydrogeology team, with 10+ years in geophysics, including ISR at Heathgate Resources. Azada Rudnicki Process & Operations Superintendent Chemical engineer (MAusIMM) with 10+ years in mining and processing, focused on ISR process design. Former Senior Chemist at Heathgate Resources. Blayney Morgan Interim Chief Financial Officer Chartered Accountant. 12 years as a Partner of SW, leading its Energy & Resources group, after Deloitte and BDO. Audit and transactions for natural resource companies globally, including a major African uranium developer/producer. Jeffrey Sterlson GM - Govt Relations & Comms Nearly 20 years in communications and government relations. Former adviser in Victoria’s Department of Premier and Cabinet and SA’s Department for Infrastructure and Transport, and First Nations Engagement Advisor with Lendlease. 6 Investor Presentation | ASX:AGE | alligatorenergy.com.au Samphire Uranium Project: Whyalla, South Australia Excellent location decreases risks (1) The three mines policy was discontinued by the Commonwealth in 1996 and is not a limit on Samphire being approved. Uranium mining in South Australia is permitted subject to approval under the Mining Act 1971 (SA), the Radiation Protection and Control Act 2021 (SA) and the Environment Protection and Biodiversity Conservation Act 1999 (Cth). AUSTRALIA >1/3 of the world’s known uranium resources • World’s 4th largest producer and A$1.2B of uranium exports in 2024. • Uranium mining currently permitted only in South Australia and the Northern Territory. • Three producing uranium mines in Australia(1). SOUTH AUSTRALIA c. 89% of Australia’s economic uranium resources • All three of Australia’s producing uranium mines are in South Australia, two of them in-situ recovery (ISR), the method behind more than 50% of world uranium production. • Proven approvals pathway; Samphire’s Field Recovery Trial Program for Environment Protection and Rehabilitation approved Aug 2025. • The State Government has expressed strong support for the project. LOCAL GOVERNMENT: WHYALLA c. 20 km south-west of Whyalla, population c. 21,000 per the 2021 ABS Census • Whyalla City Council is strongly supportive of the project, given the region’s economic challenges following the blast furnace closure, steelworks administration and sale process. • Local engineering and service providers; sulphuric acid (Port Pirie smelter) and other supplies available locally, lowering supply risk. Mineral Resources: Blackbush 18.0 Mlb U3O8 (Indicated and Inferred)(2) and Plumbush 12.0 Mlb U3O8 (Inferred)(3). See Appendices 1 and 2. (2) ASX Release 6 May 2025 - Increased Mineral Resource Estimate - Blackbush Deposit, https://alligatorenergy.com.au/announcements/6942606 (3) ASX Release 19 Jun 2026 - Samphire Resource Increases By 67%, https://alligatorenergy.com.au/announcements/7591585 EL 5926 7 Investor Presentation | ASX:AGE | alligatorenergy.com.au Delivering Australia’s Next Uranium Mine and Beyond Pathway to production and growing the business • Dec 2023: Scoping Study highlights robust economics • Aug 2025: Approval to conduct a Field Recovery Trial • Mar 2026: Pilot plant constructed on time and under budget, and operational • Jun 2026: ─ Field Recovery Trial: Pattern 1 results align with or exceed Scoping Study assumptions. Major derisking milestone ─ Resource increased by 67%, from 18 Mlb to 30 Mlb U3O8, with the inclusion of Plumbush ─ Secured an option to purchase the Mullaquana Crown Lease, containing future project extensions • Trial results feed into the Feasibility Study (FS) and Mining Lease Application, now underway • Jul-Dec 2026: Accelerated drilling program: ─ Increase Mineral Resource Estimate (MRE) for FS ─ Delineate southern extensions of Blackbush ─ Convert portions of Plumbush Inferred MRE to Indicated • Q2 2027: Updated Mineral Resource Estimate • Post-2026: ongoing exploration of the region outside of the Blackbush-Plumbush Corridor • Targeting production in 2030/2031 • Continue drilling to grow the MRE • Q4 2027: FS delivery • 2028-2029: Offtake and Project Financing milestones • Construction from 2H 2029: subject to approval of the Mining Lease and a Final Investment Decision (FID) • Continue to explore and assess potential large basin play at the Big Lake Project • Utilise highly experienced ISR team to assess logical opportunities to grow Recent Key Milestones Next Steps Production & Growth 8 Investor Presentation | ASX:AGE | alligatorenergy.com.au Samphire: Field Recovery Trial Results Excellent results from the trial, a key derisking event towards commercial ISR production(1) Well Pattern Pilot Plant Pattern 1: • Representative of the orebody targeted for initial development • Results align with or exceed Scoping Study assumptions • Revenue: ─ Industry benchmark of 70% uranium recovery over 70 pore volumes achieved ─ Grade (115 mg/L U3O8) and flow (up to 5 litres per second) • Cost: ─ Reagent consumption aligns with the highly favourable category (c. 20 kg/t) of the international ISR standards ─ Higher flow rate is an optimisation opportunity for the Feasibility Study (fewer wells, lower cost, same annual production rate) Pattern 2: • Orebody margin (lower grade/flow) not included in the Scoping Study or FS MRE • Recovery tracked the expected trend before the test was concluded; lower grade/flow zones could add to future mine planning if pricing supports them (1) AGE ASX Releases 5 May 2026 - Outstanding Results From First Well Test Pattern, https://alligatorenergy.com.au/announcements/7521138; and 28 Jul 2026 - Samphire Field Recovery Trial Successfully Completed, https://alligatorenergy.com.au/announcements/7653181 9 Investor Presentation | ASX:AGE | alligatorenergy.com.au 9 • The wellfield is the value driver of an ISR project • Drill spacing is critical: ─ Indicated Resources delineated on 25 m drill-hole spacing ─ This is closer spacing than the planned wellfield spacing of c. 30-35 m ─ Allows detailed understanding of orebody continuity to ensure reliable recoveries • Field Recovery Trial reduced key technical uncertainties: ─ c. 70% uranium recovery over c. 70 pore volumes, the ISR industry benchmark ─ ISR feasible in high and low flow/grade areas, with no plant or process change ─ Recovery, flow, reagent and processing data now feed into the Feasibility Study • Experienced ISR project delivery team Samphire: Focus on Continual Derisking Bringing hands-on ISR operating experience into feasibility planning 10 Investor Presentation | ASX:AGE | alligatorenergy.com.au Samphire: Resource Base and Upside Significant upside to increase the Mineral Resource from multiple areas Current Indicated and Inferred Resources Blackbush Mineral Resource Estimate of 18 Mlb U3O8 supports a start-up mining operation; Plumbush adds an additional Mineral Resource Estimate of 12 Mlb U3O8 (1) (1) AGE ASX Releases 6 May 2025 (Blackbush) and 19 Jun 2026 (Plumbush). Refer to Appendix 1 for the Mineral Resource summary by category. (2) ASX Release 7 Dec 2023 - Significant Exploration Target Range Established - Samphire, https://alligatorenergy.com.au/announcements/5456269 Project Total = 30 Mlb U3O8 (Indicated and Inferred) • Exploration Target(2) of 10-35 Mlb U3O8 (13-26 Mt at 332-922 ppm U3O8) across the Blackbush extensions and the North-eastern and Eastern Channels, excluding the Blackbush and Plumbush Mineral Resources The range shown excludes the Plumbush target area, now a Mineral Resource; see Table 4 of the Mineral Resource Statement at 30 June 2026 in the FY26 Annual Report. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource for the areas covered by the Exploration Target, and it is uncertain if further exploration will result in the estimation of a Mineral Resource in those areas. • The Plumbush target area has since been converted to a 12.0 Mlb U3O8 Inferred Mineral Resource(1) Security of tenure allows increased drilling to grow the resource base • Binding call option over the Mullaquana Crown Lease secures tenure and access across the Exploration Areas and unlocks the potential to increase the MRE further by targeting: ─ Southern strike extensions of Blackbush ─ The underexplored Blackbush-Plumbush Corridor ─ Plumbush infill for Inferred to Indicated conversion Mullaquana Crown Lease Moonabie Crown Lease 11 Investor Presentation | ASX:AGE | alligatorenergy.com.au Samphire: Resource Growth(1) Blackbush-Plumbush Corridor: confirmed channel continuity should increase the Mineral Resource (1) ASX Release 7 Oct 2026 - Drilling Extends Area of Mineralisation at Samphire, https://alligatorenergy.com.au/announcements/7774437 (2) The expected final number of drill holes has been revised from c. 300 to c. 250 due to challenging drilling conditions. (3) Released drill hole counts combine the 28 Jul 2026 and 7 Oct 2026 releases, from the first drill hole south of Blackbush on 4 Jul 2026. (4) ASX Release 28 Jul 2026 - Drilling Extends Uranium Mineralisation South of Blackbush, https://alligatorenergy.com.au/announcements/7653188 Intervals are downhole widths. eU3O8 grades are equivalent grades from calibrated downhole gamma logging, not chemical assays. Blackbush to Plumbush Corridor: 60 of 122 released drill holes(3) • Drilling has extended uranium mineralisation c. 1 km south of the southernmost mineralised hole • Builds on the 28 Jul 2026 results, which mapped economic uranium grades up to 600 m south of previous drilling(4) • Drilling confirms channel continuity through previously untested ground, expanding the prospective area between the two deposits and providing further evidence of the potential scale ─ BBRM26-575: 1.0 m at 0.13% (1,347 ppm) eU3O8 from 51.2 m (GT 1,374 m.ppm) ─ BBRM26-580: 3.2 m at 0.13% (1,286 ppm) eU3O8 from 61.0 m (GT 4,102 m.ppm) ─ BBRM26-587: 2.2 m at 0.23% (2,277 ppm) eU3O8 from 57.1 m (GT 4,964 m.ppm) ─ BBRM26-590: 5.2 m at 0.15% (1,498 ppm) eU3O8 from 64.7 m (GT 7,820 m.ppm) ─ BBRM26-592: 6.6 m at 0.12% (1,245 ppm) eU3O8 from 62.7 m (GT 8,214 m.ppm) Blackbush and Plumbush infill: improving resource quality • Blackbush infill: 108 holes since the last Mineral Resource Estimate, spacing reduced to 25 m x 25 m(4) • Plumbush infill: 62 of 122 released drill holes(3); results consistent with the Inferred Mineral Resource (historical data only), aiming to convert it to Indicated Samphire Growth Strategy: c. 250(2) holes for c. 22,000 m, Jul-Dec 2026 (released status at 7 Oct 2026) To go: drilling continues to Dec 2026 Released: just under half Since 4 Jul 2026: 122 holes for >12,500 m (60 Blackbush extension and Corridor, 62 Plumbush infill, including 3 sonic core) • Drilling is growing the resource: confirmed mineralisation now extends c. 1 km south of Blackbush, with c. 1 km of the Corridor to test to Plumbush. • Results feed the Q2 2027 Mineral Resource update; a larger Mineral Resource should support a longer mine life or higher production. Investor Presentation | ASX:AGE | alligatorenergy.com.au 12 12 WHY IT MATTERS • The Big Lake Project is geologically analogous to large ISR uranium fields associated with hydrocarbon basins, such as those in Kazakhstan • Same host sands as Beverley-Four Mile and Honeymoon • Potential for a significant new uranium district in a previously untested province WHAT’S BEEN DONE • 2026 program: 33 aircore holes for 4,112 m; larger roll-front system confirmed at Site 10, with intercepts including: ─ AC26-009 1.9 m at 320 ppm eU3O8 from 100.9 m ─ AC26-006 1.0 m at 180 ppm eU3O8 from 98.1 m ─ AC26-006 0.9 m at 190 ppm eU3O8 from 100.4 m Big Lake Project(1) Potential to unlock a new uranium province (1) ASX Release 24 Aug 2026 - Further Uranium Mineralisation Intersected at Big Lake, https://alligatorenergy.com.au/announcements/7697259 2026 intercepts are eU3O8 from downhole gamma logging, above a 100 ppm eU3O8 cut-off, as in the original release; most holes returned no significant intersections. Refer also ASX Release 23 Oct 2024 - Assay Results Confirm Uranium Discovery - Big Lake, https://alligatorenergy.com.au/announcements/6591977 Refer also ASX Release 27 Feb 2025 - Follow-up drilling commences at Big Lake Uranium discovery, https://alligatorenergy.com.au/announcements/6815568 Site 10 A-B cross-section showing roll-front morphology at the interpreted redox front. Uranium grades in AC26 holes are eU3O8 and in the AC24 hole U3O8, as in the original release. Big Lake Project 2026 aircore drilling program To go: final 33 holes Released: 33 holes for 4,112 m WHAT’S NEXT Results from the final 33 drill holes to be announced in November 2026 13 Investor Presentation | ASX:AGE | alligatorenergy.com.au Upcoming Plans and Milestones Regular news flow and key milestones to first production Q4 Q1 Q2 Q3 2026 2027 Updated MRE Feasibility Study Approvals incl. Environmental Q4 Q1 Q2 Q3 2H 1H 1H 2H 2H 1H Q4 2031 2032+ 2030 2029 2028 Samphire Drilling First Production Construction FID Project Financing Offtake Indicative only, as at 29 October 2026, in calendar years; the time axis is not to scale after 2028. Bars show timing windows, so consecutive steps may overlap. No decision to develop has been made; development is subject to a positive Feasibility Study, a Final Investment Decision, funding, a Mining Lease and other approvals, whose timing is outside Alligator’s control. See the Disclaimers, Forward-Looking Statements and Key Risks (slides 2, 3 and 17). Planned / underway Indicative Wellfield drilling News flow: CY 2026/early 2027 • Big Lake Project drill results final CY 2026 release (33 holes), Nov 2026 • Samphire drill results final CY 2026 release (c. 125 holes), early 2027 Two rigs operating on a continuous day-shift basis News flow: 2027 • Samphire drill results about quarterly (three planned) after the final 2026 release in early January, subject to drilling conditions • Updated Samphire MRE, including the Blackbush-Plumbush Corridor, by 30 June 2027 Mullaquana decision by 11 Mar 2028 Milestone (earliest timing, within window) Evaluation Approvals, financing and development Wellfields and production Project phase 14 Investor Presentation | ASX:AGE | alligatorenergy.com.au Investment Highlights Australia’s next uranium producer with multiple near-term catalysts Significant Tenure Secured in a Tier 1 Jurisdiction Binding call option over the Mullaquana Crown Lease unlocks the Plumbush deposit and southern Blackbush extensions for drilling Large position in the Cooper Basin Resource Base Upside Resource up 67% to 30 Mlb U3O8 Plumbush target converted to a Mineral Resource. A separate Exploration Target of 10- 35 Mlb U3O8 covers other areas of Samphire(1) Exploration Target: 13-26 Mt at 332-922 ppm U3O8, excluding the Plumbush target area, now a Mineral Resource; see Table 4 of the Mineral Resource Statement in the FY26 Annual Report. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource for the areas covered by the Exploration Target, and it is uncertain if further exploration will result in the estimation of a Mineral Resource in those areas. Accelerated Drilling Campaign Proven Team Over a century of uranium experience across the Board and management team, including hands-on ISR operating experience that derisks project delivery and execution Drilling underway to Dec 2026 to further grow the Mineral Resource for increased mine life, improved free cash flow and NPV (1) ASX Release 7 Dec 2023 - Significant Exploration Target Range Established - Samphire, https://alligatorenergy.com.au/announcements/5456269 15 Investor Presentation | ASX:AGE | alligatorenergy.com.au Appendix 1: Samphire Mineral Resource Summary(1) Tonnage (Mt) Grade (ppm U3O8) U3O8 metal (Mlb) Blackbush(2) Indicated 8.2 786 14.2 Inferred 3.9 443 3.8 Plumbush(3) Inferred 14.9 370 12.0 Total 30.0 (1) Mineral Resources as at 30 June 2026, on a 100% basis. Refer also to the Mineral Resource Statement in the FY26 Annual Report. Figures are rounded and totals may not sum. Blackbush is reported above a 250 ppm U3O8 cut-off. Plumbush is reported above a grade-thickness cut-off of 400 m.ppm and a 140 ppm eU3O8 grade cut-off, constrained to ISR-amenable facies. The two estimates are on different cut-off bases, so no combined average grade is reported. (2) ASX Release 6 May 2025 - Increased Mineral Resource Estimate - Blackbush Deposit, https://alligatorenergy.com.au/announcements/6942606 (3) ASX Release 19 Jun 2026 - Samphire Resource Increases By 67%, https://alligatorenergy.com.au/announcements/7591585 Refer to Appendix 2 for Competent Person statements. 16 Investor Presentation | ASX:AGE | alligatorenergy.com.au Appendix 2: Competent Person Statements The information in this presentation that relates to Exploration Data, Exploration Results and Exploration Targets for the Samphire Uranium Project near Whyalla, South Australia, and the Big Lake Uranium Project in the Cooper Basin, South Australia, is based on and fairly represents information compiled by Mr Nick Jervis-Bardy, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM No. 3088924). Mr Jervis-Bardy is employed full time by Alligator as Geoscience Lead and holds securities in Alligator. He has sufficient experience relevant to the style of mineralisation and type of deposit under consideration (including 5 years in ISR uranium mining operations and technical work), and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Mr Jervis-Bardy consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears. The information in this presentation that relates to the Blackbush and Plumbush Mineral Resource estimates was first reported in the ASX announcements of 6 May 2025 and 19 June 2026, together with the Competent Person statements of Mr Ingvar Kirchner (AMC Consultants) and Mr Oliver Willetts (SRK Consulting). Alligator confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements referred to in this presentation and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in those announcements continue to apply and have not materially changed. Alligator confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcements. 17 Investor Presentation | ASX:AGE | alligatorenergy.com.au Appendix 3: Key Risks This is a summary of key risks and is not exhaustive. Refer to Material Business Risks in the Directors’ Report of the FY26 Annual Report for a full description. Exploration risk Uranium exploration and development are high-risk undertakings. There is no assurance that exploration will result in an economic deposit, and actual costs may differ from estimates. Operational risk Weather, cost increases, equipment failure, unexpected geology, safety incidents and access to experienced ISR personnel could increase costs or delay activities. Access to funding Development will require further funding, which may not be available when needed or on acceptable terms. Changes to capital gains tax from 1 July 2027 may reduce demand for pre-production equities. Competitors New and incumbent uranium producers compete for offtake, funding, skilled people and services, and some may act on policy rather than commercial grounds. Regulatory risk New legislation or government requirements, including environmental regulation, may restrict or add cost to exploration and development. Reserves and resources Estimates are inherently uncertain and may change with new drilling. Mineral Resources are not Ore Reserves, and there is no assurance of conversion or that expected recoveries will be achieved. Over half of the 30.0 Mlb Mineral Resource (15.8 Mlb) is Inferred, the lowest confidence category. Field Recovery Trial results The trial tested two well patterns for a limited perio