IsoEnergy Ltd.

OUTSTANDING SHARE DATA

The authorized capital of IsoEnergy consists of an unlimited number of common shares. As of the date of this MD&A, there were 65,278,178 common shares, 5,495,950 stock options, and 145,833 RSUs outstanding, each stock option entitling the holder to purchase one common share of IsoEnergy and each RSU representing the right of the holder to receive one common share upon vesting.

During the nine months ended September 30, 2026, the Company issued 5,500,077 common shares for gross proceeds of $82,501,155 pursuant to the 2026 Financing and 2026 Concurrent Private Placement; issued 397,554 common shares on the exercise of stock options for proceeds of $4,873,599; issued 4,403,296 common shares pursuant to the Toro Energy acquisition valued at $64,067,957; issued 28,881 common shares for advisory services related to the Toro Energy acquisition valued at $400,002; issued 15,069 common shares to settle the remaining payable to acquire an option for the Larocque West Extension valued at $250,000; and issued 4,405 common shares valued at $70,216 for the payment of interest on the 2022 Debentures. The Company granted 1,502,250 stock options at an average exercise price of $13.37.

The 2022 Debentures issued to Queen’s Road Capital Investment Ltd. bear a 10% coupon rate and are convertible at $17.32 per share. The Company has US$4 million principal remaining outstanding of the 2022 Debentures which mature on December 6, 2027.

Stock options(1) outstanding as ofthe date of this MD&A, and the range of exercise prices thereof are set forth below:

As of the date of this MD&A, the Company has 145,833 RSUs(1) outstanding at a weighted average grant date fair value of $11.51.

(1)Certain of the stock options, RSUs, and per share amounts included above are presented on a post-Share Consolidation basis. Refer to the discussion on the Share Consolidation above in “About IsoEnergy”.