Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Performance
• Social Performance
• Governance

Environmental Achievements

• Achieved the first known recovery of uranium-bearing solution via in-situ recovery (ISR) mining in Saskatchewan's Athabasca Basin.

Social Achievements

• Signed Exploration Agreements with Kineepik Métis Local #9 of Pinehouse Lake, Ya’thi Néné Lands and Resources Office, Athabasca Nations, and Athabasca Communities; and a Capacity Funding Agreement with Métis Nation - Saskatchewan.
• Identified as “best in class” in relation to engagement with communities by the Province of Saskatchewan.

Governance Achievements

• Training on ESG topics offered to Board of Directors members.
• Established standing committees including Audit Committee, Corporate Governance & Nominating Committee, Compensation Committee, Environment, Health, Safety & Sustainability Committee, and Technical Committee.

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI 102-56, SASB EM-MM-210b.1, CDP, GRI Comprehensive, GRI Core, GRI MM Supplement, ICMM, ISS ESG Governance Quality Score, ONYEN, SASB, SASB Modified, UN Global Compact

Certifications: Null

Third-party Assurance: Self-Declared

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Corporate governance
• Community engagement
• Workforce diversity
• Environmental and biodiversity assessments

Environmental Achievements

• Zero lost time injuries, zero recordable medical aids, and 16 first aid incidents in exploration and evaluation in 2023
• Two reportable environmental incidents with completed remediation and no detected environmental impact in 2023
• Closed Mines group worked 895,389 cumulative hours without a lost time injury in 2023
• Successful completion of the recovered solution management phase of the ISR FFT at Phoenix in 2023, with over 99.99% efficiency in recovering mineralized precipitates and treated effluent meeting permit conditions.

Social Achievements

• Adoption of an Indigenous Peoples Policy in 2021, outlining a commitment to reconciliation
• Significant progress in key areas of the Reconciliation Action Plan: Engagement, Empowerment, Environment, Employment, and Education
• Signing of a Shared Prosperity Agreement with English River First Nation in 2023
• 80% of operations staff for the Phoenix FFT self-identified as Indigenous in 2023

Governance Achievements

• Establishment of an Environment, Health, Safety & Sustainability Committee to oversee ESG matters
• Regular reporting to the Board on compliance and monitoring results
• Inclusion in the S&P/TSX Composite Index in 2021

Climate Goals & Targets

Environmental Challenges

• Capital-intensive nature of the mining industry and uncertainty of funding
• History and periods of negative cash flow
• Global financial conditions, including market volatility and global inflation
• Speculative nature of exploration and development projects
• Risks associated with obtaining licenses and other regulatory and policy risks
• Uncertainty regarding engagement with Canada’s First Nations and Métis
• Pandemic or other health-related disruptions
• Environmental, health, safety, and other regulatory compliance risks
• Imprecision of mineral reserve and resource estimates
• Fluctuations in global demand and changes in international trade restrictions
• Impact of uranium price volatility
• Uncertainty regarding public acceptance of nuclear energy and competition from other energy sources
• Risk of dilution from future equity financings
• Dependence on other operators of the Company’s projects
• Reliance on contractors, experts, and other third parties
• Devaluation of physical uranium held by the Company
• Reliance on uranium storage facilities
• Risk of failure to realize benefits from transactions
• Inability to exploit, expand, or replace mineral reserves and mineral resources
• Competition for properties
• Challenges to property title and/or contractual interests
• Failure to meet obligations to creditors
• Uncertainty as to reclamation and decommissioning liabilities and timing
• Potential for technological innovation rendering Denison’s products and services obsolete
• Liabilities inherent in mining operations and the adequacy of insurance coverage
• Containment management of waste materials
• Ensuring compliance with anti-bribery and anti-corruption laws
• Uncertainty regarding risks posed by climate change
• Reliance on information systems and risk of cyber-attacks
• Maintenance of key infrastructure and equipment
• Dependence on key personnel
• Potential conflicts of interest for directors
• Limitations of disclosure and internal controls
• Potential influence of Denison’s largest shareholder, KEPCO
• Disagreements or disputes with joint venture counterparties

Mitigation Strategies

• Joint ventures, equity financing, debt financing, or other means to secure funding
• Allocation of cash reserves and/or physical uranium holdings to fund negative cash flow
• Issuance of equity or debt securities, or asset sales to raise additional funds
• Rigorous technical de-risking program for projects
• Extensive engagement and consultation with Indigenous and non-Indigenous interested parties
• Development of an engagement plan to guide and structure engagement activities
• Implementation of practices to ensure employment opportunities, procure goods and services from local suppliers, support community activities, and solicit input into project designs
• Updated PDP and related decrease in financial assurances for MLJV and MWJV reclamation obligation
• Execution of exploration agreements with Indigenous groups
• Negotiation of impact-benefit type agreements with Indigenous groups
• Development of policies, procedures, and controls to maintain health and safety
• Significant financial and managerial resources to comply with environmental protection laws, regulations, and permitting requirements
• Regular monitoring programs to identify risks and ensure compliance
• Employee training on environmental, health, and safety compliance and sustainability best practices
• Regular reporting to the Board on compliance and monitoring results

Supply Chain Management

Responsible Procurement

• Significant portion of Saskatchewan evaluation and exploration expenditures with Indigenous or Northern Saskatchewan vendors

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: NI 43-101

Certifications: ISO 17025