TSXV VLX Management Discussion and Analysis for Period Ending 30 September 2024

The following management discussion and analysis (“MD&A”) of Velox Energy Materials Inc. (formerly Currie Rose Resources Inc.) (“Velox” or “the Company”) provides a review of corporate developments, results of operations and financial position for the three and NINE months ended September 30, 2024 (“September 2024” or “Q2 2024”) and 2023 (“September 2023” or “Q2 2023”). This discussion is prepared as of November 25, 2024 and should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2023 and 2022 (“Audited 2023 Financial Statements”). Additional information relating to the Company, including the audited annual consolidated financial statements and MD&A for the years ended December 31, 2023 and 2022 (“Audited 2023 Financial Statements”) is available on Velox’s SEDAR profile at www.sedar.com and the Company’s website at www.veloxenergymaterials.com.au. The results reported in this MD&A have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are presented in Canadian dollars, which is the Company’s functional currency.