Disclaimer. Information Contained In This Presentation

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1 Arrow: A Rapidly Growing Uranium Discovery June 2015

2 Disclaimer 2 Information Contained In This Presentation This presentation is a summary description of NexGen Energy Ltd. ( NexGen or the Company ) and its business and does not purport to be complete. This presentation is not, and in no circumstances is it to be construed as, a prospectus, an advertisement, or a public offering of securities. No securities regulatory authority or similar authority has reviewed or in any way passed upon the document or the merits of the Company s securities and any representation to the contrary is an offence. Except where otherwise indicated, the information contained in this presentation has been prepared by NexGen and there is no representation or warranty by NexGen or any other person as to the accuracy or completeness of the information set forth herein. This presentation includes information on adjacent properties that was obtained from various publicly available sources referred to herein and the accuracy and completeness of such information has not been verified by NexGen. Except as otherwise stated, information included in this presentation is given as of the date hereof. Neither the delivery of this presentation nor any sale made under the terms described herein shall imply that the information herein is correct as of any date after the date hereof. All dollar amounts referenced herein, unless otherwise indicated, are expressed in Canadian dollars. Cautionary Note Regarding Forward-looking Information Statements contained in this presentation that are not current or historical factual statements may constitute forward-looking information within the meaning of applicable securities laws including statements with respect to the properties, a concurrent financing, our plans for exploration and development of our properties and our financial condition, operations and prospects. The forward-looking information reflects current expectations regarding future results, performance or achievements and speaks only as of the date of this presentation. When used in this presentation, forward-looking information can be identified by such words as may, will, expect, believe, plan, project, anticipate, intend, estimate and other similar terminology. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed in or implied by such information. Such risks, uncertainties and other factors include, but are not limited in any manner to those risks set forth in this presentation under the heading Risk Factors, including, the risk that no mineralization will be identified on the Radio and Rook I properties; the Company s dependence on third party financing; the Company s limited operating history; risks inherent in exploration activities; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including trade laws and policies; demand for nuclear power; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. The foregoing list of factors is not exhaustive. The forward-looking information contained in this presentation requires management to make certain assumptions including with respect to the financing and its ability to successfully develop its properties. Although management of the Company believes that the assumptions underlying, and the expectations reflected in, the forward-looking information are reasonable, significant risks and uncertainties are involved in such information. Management can give no assurances that its assumptions, estimates and expectations will prove to have been correct. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not or the times at or by which such performance or results will be achieved. Many factors that are beyond the Company s control could cause actual results to differ materially from the results discussed in the forwardlooking statements.

3 Uranium Market (Demand) A Story of Stable Demand Growth and Uncertain Supply 3 Nuclear Electricity Growth 930 GW needed by 2050 to support existing global decarbonisation mandates Will represent 17% of the global energy supply Equates to a 2.3 times increase in nuclear energy demand in just 35 years Uranium Demand Average demand growth estimated at 4% per year to 2024 Source: International Energy Agency (2015)

4 Uranium Market (Demand) Investment and Reactor Builds 4 1 Currently 437 nuclear reactors in operation globally As of April 2015, 65 nuclear reactors are under construction China: 26 currently, 23 under construction, 187 in planning/proposal phase China Nuclear Power Corp. looking to invest in Canada in the near future (Dec. 2014) Another 496 reactors are in the planning/proposal phase 2 1.) Graph: International Energy Agency (2015) 2.) World Nuclear Association (2015)

5 Uranium Market (Supply) Lack of Economic Deposits 5 In 2014 world uranium consumption was 155Mlbs while mine supply accounted for 147Mlbs +20Mlbs from HEU agreement 1 (now over) Estimated supply gap of nearly 100Mlbs per year 2 by of top 15 uranium mines are in unstable jurisdictions (Russia, Kazakhstan, Niger) End of HEU agreement in 2013 removed the equivalent of McArthur River s annual production from supply 1.) World Nuclear Association (2015) 2.) World Nuclear Association estimate of 97,450tU demand and 53,000 tu supply in 2030

6 The Athabasca Basin The Source of Future Supply 6 Global average resource grades 1 ~0.10% U3O8 Athabasca Basin mines produce at over 100X global average resource grade McArthur River produced 18.6Mlbs at 14.87% U3O8 in Remember: 1.00% U3O8 = g/t gold! 3 1.) World Nuclear Association (2015) 2.) Cameco Corp. 3.) Based on US$45/lb U & US$1,300/oz Au

7 Project Overview 7 Focus: High-tonnage, high-grade, technically superior assets in shallow sections of the Athabasca Basin Portfolio Characteristics Straddles the edge and inside of the Athabasca Basin Enables NexGen to find basement-hosted, unconformity-hosted and sandstone-hosted mineralization Hosts the land-based Arrow discovery

8 Arrow Discovery Rook I Project Location & Conductor Corridors 8 Most dominant land position in the Southwest Athabasca Basin Arrow discovered Feb 2014 with 1 st drill hole and hit 44 of 46 holes since Land-based discovery located straddling and inside the Athabasca Basin boundary Basement-hosted highgrade mineralization that grows all directions and at depth Rook I hosts all the known uranium bearing conductor corridors in the region

9 Successful Drilling at Arrow 44 of 46 Drill Holes Intersected High-grade Uranium Mineralization 9 NexGen s Drilling Methodology: 1. Wide step-outs 2. Angled Holes: 90% of holes drilled are angled 3. Efficient capital allocation: 8:1 $ in the ground to $ to G&A 4. Incredible hit rate: 96% of holes hit mineralization Results: Current Area of Mineralization: Length x width 515 m x 215 m Depth 100 m to 920 m

10 Arrow: A2 & A3 Shears Plan view of Arrow 10

11 A2: Continues to Expand 11 AR-15-44b (angled): 56.5m at 11.55% U3O8 including 20m at 20.68% U3O8 and 1.00m at 70% U3O8 Total composite GT (Grade X Thickness) of AR (angled): 57.0m at 2.31% U3O8, including 16.5m at 7.43% U3O8 AR (angled): 27.0m at 2.82% U3O8 AR-15-34b (angled): 70.0m at 2.2% U3O8 including 11.0m at 8.95% U3O8

12 A3: New High-grade Shear Developing 12 February 24, 2015 discovery of new high-grade mineralized shear zone; A3 AR (angled): 20.5m at 4.30% U3O8 AR (angled): 29.5m at 2.27% U3O8 AR-15-45b (angled): Longest total composite mineralization with 226m, including 9.80m off-scale radioactivity (>10,000 to 54,000cps) - Assays pending Holes to date in A3 shear show it to have significantly larger dimensions than A2

13 Arrow: A2 & A3 Cross-Section 2 High-grade shear zones now identified at Arrow Both A2 and A3 Zones remain open in every direction 13 NE extent of Arrow opened up with AR-15-40b (11.5m at 0.99% U3O8) A2 Dimensions: 88m strike length 340m vertical extent m true width A3 Dimensions: 73m strike length 420m vertical extent m true width

14 Athabasca Basin Setting 14

15 The Eagle Point Analogy 15 Eagle Point is an underground mine operated by Cameco 1 - Eagle Point current mineral reserves: 15.2Mlbs at 0.61% U3O annual production of 4.2Mlbs - Underground mine using longhole stoping in the competent basement rock - Eagle Point deposits are located on the eastern edge of the Athabasca Basin, and are part of the Rabbit Lake Uranium district which also includes the Rabbit Lake and Collins Bay deposits. 1 - Rabbit Lake District produced +198Mlbs of uranium concentrates since production began in ) Cameco Corp.

16 Dravite Breccia McArthur River & Arrow 16 Arrow: AR m Dravite associated (or proximal) to mineralization McArthur River: Dravite-Chlorite-filled Breccias associated with high-grade mineralization 1 1.) Cameco Corp.

17 Bow: New Discovery 3.7km NE of Arrow 17 BO-15-10: 2.5m total composite mineralization including 0.10m off-scale (>10,000cps to >10,200cps) 66m step-out to east of BO Now identified a 350m strike length of anomalous radioactivity at Bow

18 BO-15-10: Visible Pitchblende 18

19 Patterson Conductor Corridor 19 Multiple targets along 7kms of conductor corridor BO-15-10, -02 drilled into a gravity low anomaly with coincident VTEM conductor and radon in lake water anomaly with peak reading of 36.0pCi/L

20 On Land Gravity Low: Summer

21 Summer Drill Targeting Bow, Derkson 21 Multiple high priority targets based on the same geophysical signature as Arrow Land-based Regional summer drill program to further define Bow and drill first holes in Derkson conductor corridor

22 Eastern Athabasca Basin Portfolio 22 High Quality Portfolio: 1. Radio: located directly adjacent to and long strike of Roughrider, Rio Tinto acquired for $654M in February Thorburn Lake: 9 of 15 drill holes have intersected uranium mineralization. 3. Madison and 2Z Lake: contain shallow (<100m thick) sandstone-hosted uranium mineralization, and is along strike from U-mineralized conductors. Represent good potential for discovery of new basement-hosted uranium deposits.

23 NexGen Summary 23 Arrow, a world-class uranium discovery 44 of 46 holes hit mineralization (~96% hit rate) Aggressive and deliberate drilling methodology Area of mineralization 515 m x 215 m, vertical extent commencing from 100 m down to 920 m Two high-grade shear zones; A2 & A3 identified with broad intercepts of high-grade uranium encountered Expansion of A2 high-grade shear and discovery of A3 which looks significantly larger than A2 A brand new discovery made 3.7km northeast of Arrow called Bow Recently closed C$27.3M bought-deal financing Aggressive 5 rig, 25,000m summer 2015 program to start in early June

24 Arrow: Perspective on Size The Empire State Building next to Arrow 24 Arrow Total height: 820m (starting from 100m of surface) Empire State Building Total height: 443m (~54% of Arrow s height) Image made via Leapfrog software using latest drill data from Arrow zone. No NI has been published for the Arrow zone to date.

25 APPENDICIES 25

26 NexGen Outperforming Peers 26 * 3-month share price returns in Canadian Dollars as of June 12, 2015

27 Executive, Board & Technical Team 27 Executive Leigh Curyer Chief Executive Officer Garrett Ainsworth VP Exploration & Development Grace Marosits Chief Financial Officer Travis McPherson Corporate Development Manager Strong team with a successful track record in uranium exploration and development. Board Chris McFadden Chairman Richard Patricio Trevor Thiele Craig Parry Gerry Feldman James Currie Directors Technical Team Garrett Ainsworth VP Exploration & Development Adam Engdahl Project Manager - Saskatchewan Galen McNamara Project Manager - Geology Technical Advisory Andrew Browne former VP Exploration & Development Craig Parry Director

28 Capital Structure 28 1 Shares Issued & Outstanding 251,928,896 Warrants ($ $0.65) 20,839,796 Options ($ $0.46) 22,360,637 Fully Diluted 295,129,329 Cash 2 ~C$30M Ownership Management/Directors Tigers Realm Minerals & Associates Mega Uranium ~6% ~14% ~9% 1.) As of June 1, ) Company recently closed C$27.3M financing

29 The Éléonore Example 29 Putting Arrow s depth extent in context Goldcorp s Newest Mine: 1 Mine Plan 1,145m depth (starting at 55m 1 from surface) Average Gold Grade g/t Au (equivalent to 0.27% 2 U3O8) Development Capex 1 US$1.8 billion 1.) Goldcorp 2.) Based on US$45/lb U & US$1,300/oz Au

30 Arrow: No Freezing 30 Arrow is basement-hosted which means NO freezing would be required Unlike McArthur River and Cigar Lake which have 600 and 480m of sandstone on top of the ore bodies, respectively - Arrow only has 10-20m of sandstone within 80m of surface Cigar Lake is worldclass in size and grade, but faces significant challenges due to fact ore is sandstone-hosted and requires futuristic mining methods

31 31 Analyst Coverage Mike Kozak - Cormark Securities Inc. Rob Chang Cantor Fitzgerald Canada Andrew Mikitchook Edgecrest Capital David Talbot Dundee Capital Markets (416) BUY C$1.10 (416) BUY N/A (416) BUY C$0.85 (416) BUY N/A

32 Contact 32 Travis McPherson Corporate Development C: T: