Mr. Philip Williams reports

ISOENERGY COMPLETES C$25 MILLION CONCURRENT PRIVATE PLACEMENT WITH NEXGEN ENERGY

IsoEnergy Ltd., further to its news release dated Jan. 20, 2026, and in connection with the completion of its bought deal financing, has also closed its non-brokered private placement pursuant to which the company issued 1,666,667 common shares of the company at a price of $15 per share to NexGen Energy Ltd. for aggregate gross proceeds of $25,000,005.

The proceeds from the concurrent private placement are expected to be used to finance the continued development and further exploration of the company's mineral properties, and for general corporate purposes.

The concurrent private placement was completed to enable NexGen to maintain its pro rata ownership interest in the company at approximately 30 per cent after giving effect to the offering. The shares issued pursuant to the concurrent private placement are subject to a statutory hold period of four months and one day following the closing of the concurrent private placement. No commission or other fee is payable in connection with the sale of shares pursuant to the concurrent private placement.

NexGen's participation in the concurrent private placement constitutes a related party transaction pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is exempt from the requirement to obtain a formal valuation or minority shareholder approval in connection with the concurrent private placement under MI 61-101 in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101 due to the fair market value of the concurrent private placement being below 25 per cent of the company's market capitalization for purposes of MI 61-101. The company was not able to file a material change report 21 days prior to the closing date of the concurrent private placement as a result of the closing date. The concurrent private placement was approved by the board of directors of the company with each of Mr. Curyer, Mr. Patricio and Mr. McFadden having disclosed his interest in the concurrent private placement and abstaining from voting in respect thereof. The company has not received, nor has it requested, a valuation of its securities or the subject matter of the concurrent private placement in the 24 months prior to the date hereof.

About IsoEnergy Ltd.

IsoEnergy is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the United States and Australia at varying stages of development, providing near-, medium- and long-term leverage to rising uranium prices. IsoEnergy is currently advancing its Larocque East project in Canada's Athabasca basin, which is home to the Hurricane deposit, boasting the world's highest-grade indicated uranium mineral resource. IsoEnergy also holds a portfolio of permitted past-producing, conventional uranium and vanadium mines in Utah with a toll milling arrangement in place with Energy Fuels. These mines are currently on standby, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.

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