Energy Fuels (EFR) AGM 2024 summary

Opening remarks and agenda

• Meeting held virtually to enable broad shareholder participation and engagement, with questions accepted throughout and a CEO presentation following formal business.

• Chair and executive team introduced, with meeting procedures and voting protocols explained, including electronic voting and quorum confirmation.

Financial performance review

• Q1 2024 net income was $3.6 million ($0.02 per share), with 300,000 pounds of uranium sold at a blended price of $84 per pound, generating over $14 million in gross profit.

• Working capital as of March 31 was $222 million, including nearly $200 million in cash and marketable securities, with no debt and strong liquidity.

• Guidance for 2024 includes processing 150,000–500,000 pounds of uranium through the mill, with expectations to ramp up uranium production to about 2 million pounds per year.

Board and executive committee updates

• Ten directors nominated and elected to serve until the next annual meeting, with all nominees receiving more votes for than withheld.

• KPMG LLP reappointed as auditors for the next year, with remuneration to be fixed by the board.