Energy Fuels (EFR) Corporate presentation summary

Strategic positioning and business overview

• Leading producer of uranium, rare earths, and critical minerals, supporting clean energy, electrification, and national defense.

• Vertically integrated platform spans mining, processing, metallization, alloying, and magnet manufacturing.

• Positioned to supply critical materials to high-growth sectors: automotive, nuclear, data centers, robotics, and defense.

• Building a diversified portfolio with assets in the U.S., Australia, Brazil, Madagascar, and allied nations.

• Acquisitions of ASM and VAC advance the mine-to-magnet rare earth strategy and global reach.

Growth strategy and expansion plans

• Fully funded, producing assets underpin growth, with government-backed expansions and significant government funding secured.

• Pending acquisitions of ASM and VAC to add rare earth refining, metals, alloys, and magnet manufacturing capabilities.

• White Mesa Mill expansion to process up to 60,000 tpa monazite, producing NdPr, Dy, and Tb oxides.

• Donald, Vara Mada, and Bahia projects to supply globally significant rare earth ore for processing.

• Sumter facility in the U.S. to scale permanent magnet production to 12,000 tpa, driving expected EBITDA growth.

Financial performance and funding

• Near- and medium-term growth projects majority funded by government sources, with additional funding requirements identified.

• Sumter facility expected to generate $400M+ run-rate EBITDA at full capacity.

• VAC's established magnet business reported $182.4M revenue and $28.6M adjusted EBITDA (excl. Sumter) in 2025.

• Reconciliation of net income to adjusted EBITDA provided, highlighting non-GAAP financial measures.