Neo Energy Metals plc / EPIC: NEO / Market: Main Market of the London Stock Exchange

12 December 2023

Neo Energy Metals plc

('Neo Energy' or 'the Company')

Allotment of Second Tranche Shares to Q Global Commodities

Neo Energy Metals plc, the near term, low-cost uranium developer, is pleased to announce that, in accordance with its Prospectus dated 29 September 2023, it has received the second tranche of funding of £1,050,000 from Q Global Commodities Limited ("Q Global"), and issued subject only to admission, 140,000,000 new Ordinary Shares of £0.0001 par each in the Company (the "Subscription (Second) Shares").

The Subscription (Second) Shares represent the second of six tranches subscribed for by Q Global's affiliate, AUO Commercial Brokerage LLC ("AUO"), bringing the total amount received to date from AUO to £1.5 million. Under the subscription agreement as set out in the Prospectus, a further 266,666,666 will be issued to AUO over the coming months, raising an additional £2 million.

The proceeds received in respect of the Subscription (Second) Shares are in addition to the subscription proceeds described in the Company's announcement dated 9 November 2023, concerning which the Company has issued 40,000,000 new Ordinary Shares of £0.0001 par each.

Funds raised will be used to complete an updated feasibility study and target an increase in Mineral Resources at the Company's Henkries Uranium Project ('Henkries' or 'the Project') in the Northern Cape of the Republic of South Africa.

Admission

Application has been made for the 140,000,000 Subscription (Second) Shares, together with the 40,000,000 ordinary shares that were the subject of the Company's announcement dated 9 November 2023 (together, the "Additional Shares"), to be admitted to trading on the Main Market of the London Stock Exchange on or around 15 November 2023 and will rank pari passu with the ordinary shares of the Company in issue.

Total Voting Rights

Following admission of the 180,000,000 Additional Shares, the Company's issued share capital will consist of 1,396,371,468 ordinary shares with voting rights. No ordinary shares are held in treasury at the date of this announcement and, therefore, following admission of the Additional Shares, the total number of ordinary shares in the Company with voting rights will be 1,396,371,468.

The above total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in the Company.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation, and the Directors of the Company are responsible for the release of this announcement.

ENDS