92 Energy Pty. Ltd. entered into a binding heads of agreement to acquire Clover, Gemini and Tower uranium properties in Saskatchewan, Canada from IsoEnergy Ltd. (TSXV:ISO) for AUD 2.3 million on October 27, 2020. Pursuant to the agreement, 92 Energy will acquire properties in consideration for the issuance of common shares equivalent to 16.25% of the issued capital of 92 Energy following the IPO. The shares will be issued at a price of AUD 0.2 and it is anticipated that approximately 10.755 million common shares will be issued to IsoEnergy. Additional consideration to IsoEnergy includes milestone cash payments of AUD 0.1 million within 60 days of 92 Energy's IPO, and an additional AUD 0.1 million within 6 months of that date. IsoEnergy will retain a 2% NSR on the properties. As of August 11, 2021, IsoEnergy received it's first milestone payment of AUD 100 million on June 14, 2021, and an additional AUD 100 million milestone payment is receivable within 6 months from April 14, 2021. In addition, IsoEnergy will retain a 2% NSR on the Properties. Post-acquisition, IsoEnergy maintains a minimum ownership position of 5%. IsoEnergy will be entitled to nominate a member to 92 Energy's Board of Directors. Following the acquisition of the properties and the IPO, 92 Energy will be one of the few ASX listed mining companies with assets in the Athabasca Basin. The terms of the agreement and the transaction contemplated are subject to requisite regulatory approval including (a) the 92 Energy lodging the prospectus with ASIC and receiving at least the Minimum Subscription pursuant to the Offer; (b) ASX providing the 92 Energy with conditional approval for admission to the official list; and (c) both IsoEnergy and the 92 Energy receiving all necessary approvals (board, shareholder, and regulatory) required to complete the acquisition.

92 Energy Pty. Ltd. completed the acquisition of Clover, Gemini and Tower uranium properties in Saskatchewan, Canada from IsoEnergy Ltd. (TSXV:ISO) on April 6, 2021.