Uranium Energy (UEC) investor relations material

Strategic positioning and operations

• Vertically integrated across mining, processing, and conversion, with three key U.S. processing plants and a major Canadian project, Roughrider.

• Holds the largest licensed uranium production capacity in the U.S. at 12.1 million lbs U3O8.

• Recent launch of U.S. uranium refining and conversion to advance the nuclear fuel cycle.

• Three U.S. hub-and-spoke platforms established, with a fourth in Canada, targeting 4 million lbs annual production per hub.

• Strong balance sheet with $321 million in cash, inventory, and equities, and no debt.

Production, projects, and growth

• Achieved low-cost ISR production at $27 cash cost per pound, with all-in costs at $36.

• Burke Hollow in Texas is 90% complete, targeting December 2025 startup as the next ISR mine.

• Sweetwater acquisition in Wyoming creates a third U.S. hub, benefiting from expedited permitting under FAST-41.

• Roughrider in Canada expected to produce 6.8 million lbs/year, with pre-feasibility study underway and strong cash flow potential.

• Additional Canadian assets include Christie Lake and Horseshoe-Raven, with significant resources and strong JV partnerships.

Market dynamics and industry outlook

• Global uranium demand is projected to significantly outpace production, with a current gap of 51 million lbs, potentially reaching 1.75 billion lbs by 2045.

• 31 countries pledged to triple global nuclear capacity by 2050, with major tech companies seeking nuclear fuel.

• U.S. policy changes, including FAST-41, have accelerated permitting and supported domestic uranium production.

• Operates 100% unhedged, maximizing exposure to uranium price increases.

• ISR mining remains profitable at current prices, while hard rock mining requires much higher uranium prices to be viable.