Mr. Philip Williams reports

ISOENERGY COMPLETES ACQUISITION OF TORO ENERGY

IsoEnergy Ltd. has completed its previously announced acquisition of Toro Energy Ltd. by way of a scheme of arrangement under Australia's Corporations Act 2001 (Cth). Pursuant to the scheme, IsoEnergy has acquired all of the issued and outstanding ordinary shares of Toro that it does not already own. The scheme was implemented today following approval by Toro shareholders on June 9, 2026, and approval by the Federal Court of Australia on June 15, 2026. The scheme became effective on June 16, 2026.

Under the terms of the scheme, eligible participating Toro shareholders received 0.036 of a common share of IsoEnergy for each Toro share held on the scheme record date. As a result of the implementation of the scheme, IsoEnergy has issued approximately 4,359,568 ISO shares to former eligible Toro shareholders.

Philip Williams, chief executive officer and director of IsoEnergy, commented: "The completion of the Toro acquisition marks another important step in advancing IsoEnergy's strategy to build a globally diversified, development-ready uranium platform. The addition of the Wiluna uranium project expands and diversifies our development pipeline, complementing our flagship Hurricane project in the Athabasca basin. With growing support for nuclear energy and increasingly constructive policy and market conditions for uranium development in Australia, we believe this transaction positions IsoEnergy to benefit from multiple avenues of future growth. We are pleased to welcome Toro shareholders to IsoEnergy and look forward to advancing the combined portfolio."

Toro shares were suspended from trading on the Australian Securities Exchange (ASX) as at close of trading on June 16, 2026, and Toro is expected to be removed from the official list of the ASX on or about June 26, 2026.

For additional information on the transaction, please refer to IsoEnergy's news releases dated Oct. 12, 2025, and June 10, 2026.

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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