Energy Fuels (EFR) AGM 2025 summary

Opening remarks and agenda

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

• Chair and executive team introduced, with all board members present except one joining remotely.

Financial performance review

• Financial statements for the year ended December 31, 2024, and auditor's report were presented, with no questions raised.

• Over $200 million in liquidity at end of Q1, including $50 million in finished product inventory and no debt.

• Q1 loss attributed to development activities and decision not to sell uranium, with expectations of increased cash flow as uranium production ramps up.

• Inventory of finished and unfinished uranium between 2 million and 2.6 million pounds, positioning well for future contracts.

Board and executive committee updates

• Election of 11 directors proposed and carried, with all nominees receiving more votes for than withheld.

• No new director nominations were received within the required timeframe.